Mahindra Satyam gains 2% on share purchase by ADAG

Mahindra Satyam is trading higher by 2% at Rs 71.95 after Anil Dhirubhai Ambani Group (ADAG) bought 13 million shares of the IT firm for total consideration of Rs 87 crore through bulk deals on Monday.

Reliance Capital Trustee Company, a subsidiary of ADAG's Reliance Capital Ltd, purchased 12.96 million shares at an average market price Rs 67.50 per share via bulk deal, according to data available on stock exchanges. However, the sellers of the shares could not be ascertained.

As many as 4.77 million shares have already changed hands on the counter on morning deals, against an average around 7 million shares that were traded daily in past two weeks on the NSE and BSE.