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| Satyam ends at upper circuit for third day |
| BS Reporter/ PTI / Mumbai Jun 11, 2009, 16:04 IST |
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Satyam ended at its 10% upper circuit of Rs 80.85. Tech Mhaindra, however, could not hold its gains and ended with a loss of 1.5% at Rs 774. Over 1.21 milion shares of Tech Mahindra were traded on the BSE today.
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(Updated at 1008 hrs)
Satyam Computer hit the upper limit for the third consecutive session today on the Bombay Stock Exchange after the scam-tainted firm came out with better-than-expected results.
After opening firm on bourses, shares of Satyam hit the upper circuit at Rs 80.85 on the BSE, up 10 per cent over the previous close.
Satyam's new owner Tech Mahindra rose 3.45 per cent at Rs 812 on the BSE and later traded at Rs 787.10, up 0.26 per cent.
On the National Stock Exchange, Tech Mahindra surged 4.58 per cent to touch a high of Rs 818.70.
On Tuesday, Satyam reported a net profit of Rs 160.50 crore for the October-December 2008 — a period that saw the beginning of Satyam's fall from grace — and a total income of Rs 2,327.21 crore.
Satyam was at its nadir in January with a measly profit of Rs 4 crore before showing signs of revival by recording a Rs 52 crore profit in February. This was despite losing about two dozen clients.
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