Satyam up 15% on commencement of investor selection process

Satyam Computer Services surged as much as 15 per cent on the bourses in early trade amid the company saying that it has started the process to select an investor by inviting expression of interest from bidders.

Satyam Computer Services on Monday surged as much as 15 per cent on the bourses in early trade amid the company saying that it has started the process to select an investor by inviting expression of interest from bidders.

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On the Bombay Stock Exchange, the scrip jumped 15.20 per cent to touch an intra-day high of Rs 48.50 and on National Stock Exchange it soared 13.67 per cent to witness a high of Rs 39.90.

Satyam’s stock, which opened on a weak note, gained momentum and bounced back immediately after the said news.

On the volume front, good movement was seen as over 1.12 crore shares got traded on the BSE and over 2.15 crore shares exchanged hands on the NSE.

Satyam was later trading at Rs 47, up 11.64 per cent on the BSE and at Rs 46.90, up 11.27 per cent on the NSE.