Mahindra Satyam scales 52-week high

The company made the announcement during trading hours today, 15 January 2013.

Meanwhile, the BSE Sensex was up 91.71 points or 0.46% at 19,998.12.

On BSE, 7.77 lakh shares were traded in the counter as against average daily volume of 5.83 lakh shares in the past one quarter.

The stock hit a high of Rs 120.05 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 117.05 so far during the day. The stock had hit a 52-week low of Rs 64 on 27 January 2012.

The stock had outperformed the market over the past one month till 14 January 2013, surging 11.89% compared with the Sensex's 3.05% rise. The scrip had also outperformed the market in past one quarter, jumping 7.27% as against Sensex's 6.59% surge.

The large-cap IT company has equity capital of Rs 235.40 crore. Face value per share is Rs 2.

Mahindra Satyam today, 15 January 2013, signed a partnership agreement with TechMatrix Corporation, Japan. The partnership covering ASEAN region will jointly address strategic growth areas in the healthcare market and provide cloud-based healthcare solutions, Mahindra Satyam said in a statement. TechMatrix subsidiary, ICHIGO LLC, will provide its Teleradiology network infrastructure product line and NOBORI, its Cloud service for Medical and Healthcare information. Mahindra Satyam in-turn will host the cloud and mobile-based services in Singapore and Malaysia while providing direct sales and IT services to clients throughout ASEAN region.

As part of this partnership, Mahindra Satyam and TechMatrix will come together to invest in sales and marketing resources as-well-as software and hardware enhancement in this unique technology, Mahindra Satyam said.

Commenting on the development, Ram Ramachandran, Vice President and Business Head, ASEAN, Mahindra Satyam said: "The Ichigo Teleradiology network is ranked 1 in Japan and TechMatrix has been providing innovative healthcare solutions since 1998. Together we hold the vision that our combined experience and expertise can bring transformational solutions to healthcare within ASEAN".

Takashi Yuri, CEO, TechMatrix said, "In addition to the technological leadership and innovation that Mahindra Satyam has in telemedicine, healthcare and cloud services, we see natural synergies between our two organizations which we believe are critical to build a lasting partnership".

Mahindra Satyam's consolidated net profit fell 21.1% to Rs 277.93 crore on 3.11% growth in net sales to Rs 1938.36 crore in Q2 September 2012 over Q1 June 2012

Mahindra Satyam is a leading global business and information technology services company. The company's area of operations include enterprise solutions, supply chain management, client relationship management, business intelligence, business processess, engineering and product lifecycle management, and infrastructure services.

Powered by Capital Market - Live News