HCL Infosystems chucks Lenovo interest report

MUMBAI, INDIA: Putting an end to the biggest rumor in Indian IT industry 'Lenovo to buy out HCL Infosystems' — the Noida based company in a clarification filed to Bombay Stock Exchange (BSE) said company is not aware of any such development.

Also read: If Lenovo acquires HCL Infosystems

''Company is not aware of any such development about promoter intending to sell stake in the Company and as a Company policy, we do not comment on market speculation,'' HCL Infosystems said in a filed clarification here on Tuesday.

Due to the media speculation, HCL Infosystems stocks rose over 20 per cent on BSE reaching a high value of Rs.43.80 on Tuesday's trading hours against previous day's close of Rs. 36.35.

In terms of company's equity, promoters are holding over 50 per cent while the remaining is public, which include FII with 27.60 per cent shares, 3.78 per cent shares with DII and others holding 17.85 per cent shares.