Mahindra Satyam soars on huge volumes

The stock is outperforming by rising 14% compared to less than 1% gain in the benchmark index post Q4 results

Mahindra Satyam has soared 6% to Rs 76.20 on back of huge volumes on the bourses. A combined 4.5 million shares have already changed hands on the counter till noon deals, against an average sub 5 million shares that were traded daily in past two weeks on the NSE and BSE.

The stock is outperforming the market by rising 14% compared to less than 1% gain in the benchmark index, after the company has reported better-than-expected financial results for the quarter ended  March 2012.

The company’s profit after tax stood tall at Rs 534 crore, up 73.2% quarter-on-quarter (qoq), aided by one-time gain of Rs 109 crore and deferred tax asset of Rs 162 crore.

The company is back on its growth track after two years of metamorphosis undertaken by Tech Mahindra’s management post its acquisition in June 2009.

According to analyst at Angel Broking, “On the operating front, Satyam scaled up its margins from 8.8% in FY2011 to 16.0% in FY2012 on the back of factors such as rupee depreciation and rationalization of employee pyramid”.

image
Business Standard
177 22
Business Standard

Mahindra Satyam soars on huge volumes

The stock is outperforming by rising 14% compared to less than 1% gain in the benchmark index post Q4 results

SI Reporter  |  Mumbai 



Mahindra Satyam has soared 6% to Rs 76.20 on back of huge volumes on the bourses. A combined 4.5 million shares have already changed hands on the counter till noon deals, against an average sub 5 million shares that were traded daily in past two weeks on the NSE and BSE.

The stock is outperforming the market by rising 14% compared to less than 1% gain in the benchmark index, after the company has reported better-than-expected financial results for the quarter ended  March 2012.

The company’s profit after tax stood tall at Rs 534 crore, up 73.2% quarter-on-quarter (qoq), aided by one-time gain of Rs 109 crore and deferred tax asset of Rs 162 crore.

The company is back on its growth track after two years of metamorphosis undertaken by Tech Mahindra’s management post its acquisition in June 2009.

According to analyst at Angel Broking, “On the operating front, Satyam scaled up its margins from 8.8% in FY2011 to 16.0% in FY2012 on the back of factors such as rupee depreciation and rationalization of employee pyramid”.

RECOMMENDED FOR YOU

Mahindra Satyam soars on huge volumes

The stock is outperforming by rising 14% compared to less than 1% gain in the benchmark index post Q4 results

Mahindra Satyam has soared 6% to Rs 76.20 on back of huge volumes on the bourses. A combined 4.5 million shares have already changed hands on the counter till noon deals, against an average sub 5 million shares that were traded daily in past two weeks on the NSE and BSE.

Mahindra Satyam has soared 6% to Rs 76.20 on back of huge volumes on the bourses. A combined 4.5 million shares have already changed hands on the counter till noon deals, against an average sub 5 million shares that were traded daily in past two weeks on the NSE and BSE.

The stock is outperforming the market by rising 14% compared to less than 1% gain in the benchmark index, after the company has reported better-than-expected financial results for the quarter ended  March 2012.

The company’s profit after tax stood tall at Rs 534 crore, up 73.2% quarter-on-quarter (qoq), aided by one-time gain of Rs 109 crore and deferred tax asset of Rs 162 crore.

The company is back on its growth track after two years of metamorphosis undertaken by Tech Mahindra’s management post its acquisition in June 2009.

According to analyst at Angel Broking, “On the operating front, Satyam scaled up its margins from 8.8% in FY2011 to 16.0% in FY2012 on the back of factors such as rupee depreciation and rationalization of employee pyramid”.

image
Business Standard
177 22

LIVE MARKET

BSE

  ( %)

NSE

  ( %)

More News

  • Sensex zooms 440 points to end at fresh 52-week closing high Sensex zooms 440 points to end at fresh 52-week closing high
  • An employee checks a customers' feedback book next to a Bharti Airtel logo inside its shop in Kolkata Bharti Airtel hits over four-month low

STOCK WATCH

Company Price() Chg(%)
H T Media 88.30 12.41
Dr Lal Pathlabs 1004.05 8.85
G M D C 98.15 8.27
Oriental Bank 124.05 7.82
Yamini Invest 39.70 7.30
> More on BSE Gainers
Company Price() Chg(%)
Oriental Bank 124.00 7.92
G M D C 97.85 7.88
Jubilant Life 543.80 6.81
Radico Khaitan 103.05 6.73
Allahabad Bank 84.00 6.67
> More on NSE Gainers
Company Price() Chg(%)
R C F 47.10 -5.23
Welspun India 46.75 -4.10
Den Networks 80.90 -3.86
Trident 56.00 -3.45
Bharti Airtel 332.10 -2.82
> More on BSE Gainers
Company Price() Chg(%)
R C F 47.15 -5.23
Den Networks 80.90 -3.75
Welspun India 46.65 -3.72
Trident 55.90 -3.70
Whirlpool India 924.95 -3.16
> More on NSE Gainers
Widgets Magazine
Widgets Magazine
Widgets Magazine

Derivatives

Index
Instrument Type
Expiry Date
Option Type
Strike Price

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard