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In reaction to the proposed deal, the ADR of Satyam Computer in the New York Stock Exchange tumbled by over 50 per cent. At 8.45 pm IST, the ADR plummeted by about 54 per cent to trade around $6.15 against the previous day’s close of $12.05. Traded volumes also jumped almost 10 fold.

It is learnt that Templeton, an investor, is against the deal.

In the conference call the company had with analysts, a Templeton representative said: “We do think that returning money to the shareholder was a better option.”

On the BSE, the stock ended on flat note at Rs 226.5 against the previous day close of Rs 225.40.

More Stories on : Software | Stocks | Satyam Computer Services Ltd

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