Birla Sun Life mutual dumps Satyam

Birla Sun Life mutual dumps Satyam
Comment E-mail Print Share
First Published: Fri, Jan 09 2009. 11 43 AM IST
Updated: Fri, Jan 09 2009. 11 43 AM IST
Mumbai: “The Indian mutual fund venture of Canadian insurer Sun Life Financial has dumped Satyam Computer Services in the last three days,” chief investment officer A. Balasubramanian said.
At December-end, the fund house held 1.7 million shares worth Rs291 million of the embattled firm, which fell more than 70% today, continuing a slump it saw on Wednesday after it reported falsely inflating profits for many years.
Indian mutual fund industry collectively owned 3.92% of the software exporter across 135 schemes at the end of November, data from fund tracker ICRA Online showed.
Comment E-mail Print Share
First Published: Fri, Jan 09 2009. 11 43 AM IST