After plunging by almost 30%, the share price of HCL Infosystems recovered in mid-day trades on the BSE today as the company said it was explaining the implications of its agreement with Nokia.The share price recovered to Rs 183.40 at 1330 hrs from the day's low of Rs 154.84 and the previous close of Rs 258.05.Earlier, speaking to PTI, HCL Infosystems chairman and CEO Ajai Chowdhry said the company was explaining the implications of its agreement with Nokia to investors and analysts."We hope that normalcy would be restored soon as we are explaining to both investors and analysts that we have converted our short-term agreement with Nokia into a long-term deal. People have not understood the implications," he said.The broking community attributed the drop in the company's shares at the outset on 'confusion' that the revenue sharing between HCL Infosystems and Nokia might affect the former's bottomline, and triggered nervous selling.
