HOV Services hits upper circuit

HOV Services is locked on the 5% upper circuit at Rs.83.25; it opened at Rs.82.80 and then immediately hit the circuit.

The stock is up after the company informed the stock exchange today morning that it’s wholly owned subsidiary in USA, SourceHOV has appointed Morgan Stanley to explore various strategic options. The news is that PE majors, Apax Partners, Carlyle Group and Baring Asia are said to be the bidders to acquire the business process outsourcing company SourceHOV.