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

Read more on:    It | Mahindra Satyam | Tech Mahindra
Related News

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 ’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”.

Read more on:   
|
|

Read More

Agri Min proposes Rs 170/quintal hike in paddy MSP

In view of rising farm input costs, the Agriculture Ministry has proposed a Rs 170 per quintal increase in the minimum support price (MSP) of paddy ...

Quick Links

 

Market News

WB summer rice crop likely to be higher by 25% to 7.5 mn tonne

Nearly 68% of total population of West Bengal resides in rural areas, according to last census

Potato prices spurt on output damage

Unseasonal rainfalls, hailstorms hit the crop badly

Markets closed on account of election day in Mumbai

Markets will remain closed today on account of voting for the general elections in Mumbai constituencies

Sebi revises norms for liquidity enhancement schemes

Exchanges can provide trading incentives for three years

Slow start for VIX futures

High costs, lot size said to be impediments

Back to Top