Satyam up on CLB nod

DALAL STREET SPIKES

Shares of Satyam Computer Services rose 3.62 per cent to Rs 73 after the company got the CLB nod for preferential allotment to Tech Mahindra (TechM). Following a poor response from public shareholders — with only 0.04 per cent shares tendered in the open offer — TechM will add 1.99 million shares through preferential allotment.

Tech Mahindra had acquired 31 per cent in Satyam in April. The stock made an intraday high of Rs 74.5 and a low of Rs 70.1. A total of 1.15 crore shares were traded on Thursday (two-week average trading volumes of 85.8 lakh shares).