Satyam shares surge after earnings, Tech Mahindra up

SATYAM-SHARES-SURGE-AFTER-EARNINGS:Satyam shares surge after earnings, Tech Mahindra up

 

Reuters Market Eye - Satyam Computer Services jumps 8.7 percent, after hitting as high as 91.85 rupees, its highest since July 21, 2011.

Gains come after the software services exporter beat analyst estimates with a 56.4 percent rise in quarterly profit after it won new business and got a boost from currency effects.

"The company continued to deliver operational exuberance with healthy volume growth," said Ankita Somani, an analyst at Angel Broking in a note.

Satyam Computer Services Ltd , is in the process of merging with parent Tech Mahindra Ltd .

Tech Mahindra gains 6.6 percent.