Satyam rebounds, ends up 3%

The scrip zoomed to a high of Rs 94 and finally ended at Rs 93, up 2.5% from the previous close. The counter clocked volumes of  30.16 million shares on the BSE as compared to the two-week daily average traded volume of 14.87 million shares .
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(Updated at 1423 hrs)

Mahindra Satyam has rebounded into the positive zone, and is now up 1.6% at Rs 92. The counter has seen hefty trades of around 23.65 million shares on the BSE.
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(Updated at 1134 hrs)

Shares of Mahindra Satyam continued its downslide for the fourth consecutive day, plunging 8% in the morning trade on the BSE, as investors dumped the stock on concerns that the losses suffered on fraud may stretch further.

After a weak opening on the Bombay Stock Exchange, the scrip tanked to a low of Rs 83.05, down 8.28% over its previous close.

Shares of Satyam have been on a downtrend for the past four sessions, losing nearly 21% from its valuation on Friday last when the scrip was quoting at Rs 104.55.

Marketmen said investors are booking profits in the stock amid the concerns over its financial health after the investigating agency CBI said on Tuesday that Satyam scam may stretch to a staggering Rs 14,000 crore, nearly double of what it was estimated to be earlier.

On the National Stock Exchange the scrip was heavily beaten and plunged 9.25% to Rs 82.35. Over 1.49 crore shares of Mahindra Satyam changed on both the bourses within minutes of opening of trade.

The Central Bureau of Investigation (CBI) has filed the second chargesheet in the multi-crore Satyam scam against its founder chairman B Ramalinga Raju and others, including the recently arrested internal auditor vs Prabhakar Gupta.

The scrip was later quoting at Rs 87.25, down 3.64% on the BSE.