While TCS and HCL Tech remain the favourites of most analysts, the latter believe there could be more pain left for Infosys' stock.
While most analysts had valued Reliance Capital's stake in Reliance Life Insurance at Rs. 285 per share, or about Rs. 7,000 crore, this deal values it at Rs. 468 per share of Reliance Capital, which is a huge premium.
While iGate leaps into the $1-billion club, the combined entity will have a larger offering, better pricing power and scope to improve margins. Nasdaq-listed software firm iGate's acquisition of Patni Computer Systems was received positively by the market. On a day when the Sensex was down 2.4 per cent, the Patni scrip closed 0.8 per cent higher at Rs 463.85.
Already having a deal with GlaxoSmithKline for marketing its products in various emerging markets, Dr Reddy's Laboratories had this week inked an agreement to buy the latter's oral penicillin manufacturing facility at Tennessee in the United States.
Rising competition and costs are likely to keep profitability of brokerage firms under pressure, leading to consolidation.
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