Notes that Oct-Dec revenue growth was 'muted', given the impact from furloughs in high-tech, mfg segments
Kotak Institutional Equities downgraded Satyam Computer Services 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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