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What: Shares of IT service provider iGate
So what: iGate shares nosedived 20% last week on news that it would pursue a majority stake in the considerably larger Patni Computer in India. Today's rally looks like a mixture of two things: optimism that iGate is leading the fight against juggernauts The Carlyle Group and Advent International to acquire a new revenue stream, and a possible technical rebound after last week's sharp sell-off.
Now what: iGate clearly feels that its best avenue to growth is to expand internationally, but plenty of question marks still remain, especially given how small the company is compared to competitors Infosys
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