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| Satyam dips 4% on merger talks; HCL, MindTree gain |
| Press Trust of India / Mumbai Jan 05, 2009, 11:52 IST |
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IT major Satyam Computer today dipped as much as 4% on the bourses amid reports that its management and institutional investors are exploring a merger with another software company.
The scrip of the company opened on a firm note at Rs 180 on the Bombay Stock Exchange but soon lost ground and saw an intra-day low of Rs 170.10, a decline of 4.19% from its last close.
According to media reports, Satyam is reportedly in talks with Delhi-based HCL Technologies and Bangalore-based MindTree.
On the National Stock Exchange, Satyam Computer opened at Rs 178 but pared early gains and touched an intra-day low of Rs 170.10, a dip of 4% from its previous closing price.
Nearly 50.50 lakh Satyam shares changed hands on the NSE and 21.87 lakh shares got traded on the BSE.
Meanwhile, stocks of HCL Technologies and MindTree were trading in the positive zone.
HCL Technologies, which is reported to be the front-runner, saw an intra-day high of Rs 126.90, up 3.88% from its last close on the BSE. The stock was later quoted at Rs 125.15, up 2.46%.
Besides, MindTree also surged as much as 5.08% on the BSE and touched a high of Rs 248.90. The scrip was later trading at Rs 240, up 1.33%.
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