Beleaguered firm Satyam Computer on Monday dipped nearly three per cent on the bourses even as the market settled in a positive territory with benchmark index Sensex gaining 3.04 per cent.
Shares of Satyam on Monday settled with a drop of 2.74 per cent at Rs 46.10 on the Bombay Stock Exchange. During the day the scrip remained volatile and tumbled touched an intra-day low of nearly six per cent to Rs 44.60.
"Momemtum is going down in the scrip after its expiry from the Futures and Options (F&O) segment. The initial euphoria of the scrip is gone as the investors are waiting for some buyback announcement or takeover offer," Ashika Stock Brokers Research Head Paras Bothra said.
On the National Stock Exchange, the scrip settled with a loss of 2.53 per cent at Rs 46.30.
Over 3.75 crore shares changed hands on the bourses.
The scrip has been on a downslide after the expiry of its January contract. The scrip which was trading at a high of Rs 54.05 on January 30 has since then lost nearly 15 per cent.
The two prime bourses had removed Satyam from the F&O segment on January 30 after the BSE and NSE removed the scrip from their benchmark indices - Sensex and Nifty, respectively.