Infosys is trading with a marginal gain of over 1% (Rs 20) at Rs 1,723 in early trades following the company's announcement to buy UK-based Axon.
The stock opened in red at Rs 1,695, but has recovered and touched a high of Rs 1,725. The counter has seen trades of of nearly two shares so far (1030 hrs).
Infosys Technologies yesterday said it will acquire UK-based and London Stock Exchange-listed Axon Group, a SAP consulting company, in an all-cash deal worth around Rs 3,300 crore ($753.1 million).
Interestingly, the Infosys ADR on the Nasdaq yesterday dropped 4% to $39.90 after the announcement.
