www.expressindia.com - Weather | Horoscope | Stocks | RSS
expressindia web city
HomeBlogsCricketAstrology TendersClassifieds Reader Comments Hotels
Sign In / Register | Archive
Expressindia » Story

Markets cheer new Satyam CEO, stocks surge

Font Size

Agencies

Posted: Feb 06, 2009 at 1051 hrs IST

Mumbai Scam-hit Satyam Computer on Friday opened on a firm note on the Bombay Stock Exchange and surged nearly seven per cent after the company's board named A S Murty, one of the firm's own, as Chief Executive Officer and announced tying up Rs 600 crore loans to meet working capital needs.

Shares of the company touched an intra-day high of Rs 49.40, up 6.81 per cent from its previous close on the BSE. It was later quoting at Rs 47.60, up 2.92 per cent on the BSE.

Similarly, on the National Stock Exchange the scrip opened 6.56 per cent up to touch an intra-day high of Rs 49.50. Later it was trading at Rs 47.80, up 2.91 per cent.

A total of 43.44 lakh shares exchanged hands on the bourses.

Yesterday, Satyam board appointed Murty, as CEO and also roped in Homi Khusrokhan, a Tata group veteran, and chartered accountant Partho Datta, as special advisors to help the company in management and finance areas, respectively.

The company said that the special advisors, along with Boston Consulting Group, would assist the new CEO and the board in defining priorities and their execution.

According to the marketmen the stock will move northwards for a short while but nothing concrete can be said regarding this counter. One can see huge volumes trading on the bourses because the prices are currently at very low levels and there is a large number of day trading on this counter.

Discuss this story on expressindia forums
Post Comments
Name* Email ID*
Subject* Country*
Message*
Characters remaining
 
TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).
I agree to the terms of use.

Latest News

Business

Showbiz

Sports

Lining up to pawn the family gold

Question mark over Rushdie video chat

Pak parliament adopts resolution demanding Musharraf's arrest

Maharashtra ATS cracks 13/7, arrests 3

India steps up pressure on Norway for release of NRI children

PC, Montek dismiss reports of rift over ID project Aadhar

Upset over raid, UP health scam accused ‘shoots self’

More
© 2011 The Indian Express Limited. All rights reserved
Advertise With Us | Privacy Policy | Feedback | Express Group | Site Map