April 6, 2018 / 6:18 AM / 4 months ago

BUZZ-Indian IT firm HCL Tech's C3i Solutions deal to boost revenue growth in FY19 - Morgan Stanley

** Morgan Stanley says IT firm HCL Technologies Ltd’s C3i Solutions acquisition to complement HCLT’s outsourcing business and enhance its offerings in life sciences and consumer packaged goods

** HCLT on Thursday agreed to buy life sciences and consumer services provider C3i Solutions from U.S.-based Merck & Co Inc for $60 mln

** MS expects the acquisition to contribute 2.5 pct of HCLT’s total revenues in FY19

** Deal to not have any material impact on earnings or the stock price - MS

** Stock, which had gained about 8 pct this year as of Thursday’s close, trades flat in morning trade

** MS rates HCLT stock at “overweight” with price target of 1,060 rupees

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