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

  ( %)

Widgets Magazine

More News

STOCK WATCH

Company Price() Chg(%)
Sharda Cropchem 348.65 20.00
Rattanindia Pow. 11.17 14.10
Larsen & Toubro 1472.60 14.04
Lycos Internet 17.60 13.18
DCM Shriram 193.70 12.29
> More on BSE Gainers
Company Price() Chg(%)
Sharda Cropchem 348.45 19.99
Larsen & Toubro 1474.15 14.13
Rattanindia Pow. 11.15 13.78
DCM Shriram 193.10 12.23
Dynamatic Tech. 2285.85 8.69
> More on NSE Gainers
Company Price() Chg(%)
T.V. Today Netw. 308.55 -6.97
Cummins India 808.00 -6.19
JP Associates 5.63 -5.85
Piramal Enterp. 1348.05 -5.26
Vardhman Textile 870.00 -3.78
> More on BSE Gainers
Company Price() Chg(%)
T.V. Today Netw. 308.65 -7.03
JP Associates 5.60 -6.67
Cummins India 807.65 -6.29
Aditya Bir. Fas. 137.80 -6.03
Piramal Enterp. 1351.10 -5.07
> More on NSE Gainers
Widgets Magazine
Widgets Magazine
Widgets Magazine

Derivatives

Index
Instrument Type
Expiry Date
Option Type
Strike Price

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