Page 15 - Saankhya Labs News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Get latest articles and stories on Business at LatestLY. Tejas Networks (BSE: 540595) (NSE: TEJASNET) today announced that it has signed definitive agreements to acquire 64.40 percent of shares of Saankhya Labs Private Ltd. Bangalore ("Saankhya") for INR 283.94 Cr in cash. Business News | Tejas Networks Announces Acquisition of Saankhya Labs (P) Ltd. to Enhance Its Wireless Products Offering.

Equity market turned negative in afternoon session today. Sensex fell 137 points to 58,546 and Nifty lost 42 points to 17,456. Earlier, equity market opened higher amid mixed global cues.

To enhance its wireless products offering, Tata Group’s company Tejas Networks will acquire a 64.40% stake in the wireless solution company Bengaluru (Bangalore)-based Saankhya Labs for INR 2.84 billion (USD 38 million) in a cash trade.

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Tejas Networks share hit the upper circuit of 5 per cent in early trade today after the Tata Group firm said it would buy 64.40 per cent stake in wireless solutions company Saankhya Labs for Rs 283.94 crore in an all-cash deal. Tejas Networks share zoomed 5 per cent to Rs 424.90 against the previous close of Rs 404.70 on BSE. The stock has gained 11.46 per cent in the last three days. Tejas Networks stock opened 5 per cent higher today. The market cap of the firm rose to Rs 4,861 crore.