May currency futures trade weaker, OI increases by 0.99%
The partially convertible rupee is currently trading at 70.21, weaker compared to its Friday’s close at 69.92. The rupee opened at 70.1600 and touched day’s high of 70.2400 and low of 70.0950.
The May currency futures were trading at 70.3700 with a spread of 0.0025 and a volume of 644606. The contract opened weaker at 70.4975 compared to its previous closing of 70.0425. The open interest (OI) stood at 1,921,793 up by 0.99% compared to its previous close of 1,903,025.
The rupee had closed at 69.92 on Friday, while the reference rate stood at 69.9212.
HCL Technologies to merge four subsidiaries with itself
HCL Technologies has received approval for a scheme of amalgamation for the merger of its direct/step-down wholly-owned subsidiaries, viz. HCL Comnet, HCL Eagle, HCL Technologies Solutions and Concept2silicion Systems (Transferor Companies) with and into the company. The Board of Directors of the company in its meeting held on May 9, 2019, approved the same.
The Scheme has also been approved by the Board of Directors of the Transferor Companies in their respective meetings held on May 10, 2019. The Scheme is conditional upon and subject to necessary statutory and regulatory approvals under applicable laws, including the approval of the jurisdictional National Company Law Tribunal(s) in India.
HCL Technologies is a leading global IT services company that helps global enterprises re-imagine and transform their businesses through digital technology transformation.
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