Satyam stock hits upper circuit, again

For the third consecutive day, the Satyam stock hit the upper circuit. The company’s stock touched Rs 80.85 from its previous close of Rs 73.50.

The continuous spike in the share prices of the Hyderabad-based IT firm has made many markets experts suggest that Tech Mahindra — its new owner  — may have to take the preferential issue route to gain a controlling stake in the company.

“I don’t think Tech Mahindra will revise the open offer price. Why would they want to acquire 20 per cent of the stake for a higher price? There are other options. The company can look at a preferential allotment or even do a creeping acquisition over a year,” said Deven Choksey, MD, KR Choksey Securities.