India Cements may witness action on the bourses as it enhanced the FII limit from 24% to 40% and also approved the FCCB issue of $ 75 million.FIIs have 22.96% stake in India Cements as on the quarter ended 31 March 2006. The stock ended marginally higher at Rs 212 on Thursday.Infosys Technologies may see action as it announced its agreement with Citicorp International Finance Corporation to acquire its of 23% (worth $115.13 million) in Progeon.The consideration will be paid in cash and the transaction is expected to be completed by July 2006.Progeon is a majority-owned subsidiary of Infosys. It is a leading provider of Business Process Management (BPM) services to Global 1000 companies and is among the top 10 third-party BPOs in India according to the NASSCOM 2004-05 rankings. It has over 7,000 employees as of March 31, 2006.Infosys stock ended marginally lower at Rs 3277 on Thursday.
