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Satyam hits upper limit for third straight day

Satyam hits upper limit for third straight day
PTI
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First Published: Thu, Jun 11 2009. 10 48 AM IST
Updated: Thu, Jun 11 2009. 10 48 AM IST
Mumbai: Satyam Computer hit the upper limit for the third consecutive straight session on Thursday on the Bombay Stock Exchange after the scam-tainted firm came out with better-than expected results.
After opening firm on bourses, shares of Satyam hit the upper circuit at Rs80.85 on the BSE, up 10% over the previous close.
Read full coverage of Satyam fiasco
Satyam’s new owner Tech Mahindra rose 3.45% at Rs812 on the BSE and later traded at Rs 787.10, up 0.26%.
On the National Stock Exchange, Tech Mahindra surged 4.58% to touch a high of Rs818.70.
On Tuesday, Satyam reported a net profit of Rs160.50 crore for the October-December 2008 - a period that saw the beginning of Satyam’s fall from grace - and a total income of Rs2,327.21 crore.
Satyam was at its nadir in January with a measly profit of Rs 4 crore before showing signs of revival by recording a Rs52 crore profit in February. This was despite losing about two dozen clients.
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First Published: Thu, Jun 11 2009. 10 48 AM IST
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