• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• BL Club
• Smartbuy
• Books

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai, Dec. 31 Heavily beaten shares of Satyam Computer Services moved up by six per cent on Wednesday as the company’s management assured investors and its staff of corrective measures to salvage their badly damaged reputation for corporate governance after the promoters move to buy two family-owned companies using the cash reserves of the company.

While the three independent directors have quit Satyam board, the shares have moved up by over 25 per cent during the last four trading sessions.

Satyam touched its 52-week low of Rs 114.65 on December 24 on the BSE but closed at Rs 134.95. Since then, it has gained 26 per cent to close at Rs 170.

On Wednesday, Satyam shares moved up to Rs 170.15, registering a gain of 5.95 per cent on the BSE.

On the NSE, it closed 6.29 per cent up to close at Rs 170.80.

Over eight crore shares were traded on the NSE and BSE with a combined turnover of over Rs 1,371 crore.

Speculation are rife that there might be a change in the Satyam management when its board meets on January 10, with a Chief Executive Officer taking over the company’s day-to-day affairs and also that Mr Ramalinga Raju may make way for a new promoter group to steer the company.

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

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2009, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line