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Kotak downgrades Satyam after Q3 earnings

Notes that Oct-Dec revenue growth was 'muted', given the impact from furloughs in high-tech, mfg segments

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Institutional Equities downgraded Ltd to "reduce" from "add", noting October-December revenue growth was "muted", given the impact from furloughs in the high-tech and manufacturing segments.

Kotak adds Satyam shares, also called Mahindra Satyam ahead of a pending merger with Tech Mahindra, are trading at fair value after gaining over the past few quarters.

On Thursday, Satyam Computer reported a 20.6% rise in third-quarter profit before a one-off loss.

Shares fall 1.8% as of 11.03 am.

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Wipro set for bigger role in aerospace business

Wipro Infrastructure Engineering, the hydraulics business of Wipro Limited, today said it was embarking on an expansion plan in the defence and ...

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