IT services major Infosys has hit a fresh 52-week high of Rs 1,146.50 apiece for the second consecutive day on the BSE, gaining over one percent. The company had on Monday announced completed the $42 million (Rs 309 crore) acquisition of US-based product design and development firm Kaleidoscope Innovation, in order to expand its engineering service offerings in medical devices, consumer and industrial markets across America.
Kaleidoscope designs microsurgical instruments, used in invasive surgery, drug delivery devices for ophthalmic therapies and user-centric wearables.
For nine straight days, the stock has been on a gaining spree, rising 13.74 percent. Earlier on Monday, the global software major also announced that it will acquire US-based analytics company Blue Acord iCi for up to $125 million. The company, in a regulatory filing, said that the move further strengthens its end-to-end customer experience offerings and demonstrates its continued commitment to help clients navigate their digital transformation journey. It noted that the cost of acquisition would be up to $125 million including management incentives and bonuses.
Meanwhile, IT stock HCL Technologies too hit a fresh 52-week high of Rs 885 apiece on BSE.
The Infosys stock price has now risen over 124 percent from March lows, the Financial Express reported. The HCL Tech stock too has rallied over 135 percent in nearly seven months.
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