HCL Infosystems climbs after Derive Investment buys 1.8% stake

NEW DELHI: HCL Infosystems shares saw another 7 per cent spurt in Thursday's trade continuing with the gains seen over the past two days after Derive Investments bought 1.8 per cent stake in the company through an open market transaction on Wednesday.

The investment company run by Radhakishan Damani bought the stake at an average price of Rs 49.38 apiece.

Derive Investment bought 2.86 million shares at Rs 48.90 per share on the NSE, while 1.16 million shares at Rs 49.85 per share on the BSE.

The stock was trading at Rs 55.55, up 7.45 per cent, and some 53,54,484 shares changed hands in the first hour of trade on Thursday. On Wedesday, the stock had rallied 10 per cent to Rs 56.90, extending its previous day's 20 per cent rally.