Satyam Computer surges over 11 pc on BSE amid board meeting
Wednesday, May 27, 2009
IT firm Satyam Computer Services on Friday surged over 11 per cent on the Bombay Stock Exchange
amid the meeting of its board members on
Friday.
Shares of Satyam ended the day at Rs 53.65, up 11.54 per cent from its previous close. During the trade, the scrip had soared 17 per cent to touch its intra-day high of Rs 56.25.
Similar trend was seen on the National Stock Exchange, where the stock closed at Rs 53.55, up 11.33 per cent from its last close. During the intra-day trade, shares of Satyam had touched a high of Rs 56.40, up 17.25 per cent.
On volume front, over 15.46 crore shares changed hands on both the bourses.
Four nominee directors of Tech Mahindra (the new owner of Satyam Computer), including its Chief Executive Vineet Nayar, were today appointed on the board of Satyam Computer, with effect from June 1.
The other three nominee directors on behalf of Venturbay Consultants (an arm of Tech Mahindra), which acquired 31 per cent stake in the Hyderabad-based company in April, include C P Gurnani, Sanjay Kalra and Ulhas N Yargop, Satyam said in a filing to the Bombay Stock Exchange.
The appointment of the nominee directors comes pursuant to the completion of the share purchase agreement between Tech Mahindra and Satyam Computer Services, under which the new owner of the IT firm had completed the acquisition of a 31 per cent stake in the company for Rs 1,756 crore.
amid the meeting of its board members on
Friday.
Shares of Satyam ended the day at Rs 53.65, up 11.54 per cent from its previous close. During the trade, the scrip had soared 17 per cent to touch its intra-day high of Rs 56.25.
Similar trend was seen on the National Stock Exchange, where the stock closed at Rs 53.55, up 11.33 per cent from its last close. During the intra-day trade, shares of Satyam had touched a high of Rs 56.40, up 17.25 per cent.
On volume front, over 15.46 crore shares changed hands on both the bourses.
Four nominee directors of Tech Mahindra (the new owner of Satyam Computer), including its Chief Executive Vineet Nayar, were today appointed on the board of Satyam Computer, with effect from June 1.
The other three nominee directors on behalf of Venturbay Consultants (an arm of Tech Mahindra), which acquired 31 per cent stake in the Hyderabad-based company in April, include C P Gurnani, Sanjay Kalra and Ulhas N Yargop, Satyam said in a filing to the Bombay Stock Exchange.
The appointment of the nominee directors comes pursuant to the completion of the share purchase agreement between Tech Mahindra and Satyam Computer Services, under which the new owner of the IT firm had completed the acquisition of a 31 per cent stake in the company for Rs 1,756 crore.
Posted bySaini at 6:19 PM
Labels: Technology
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