June 2011 quarter performance: Satyam Computer Services back on the growth track
Satyam Computer Services, which uses Mahindra Satyam as its brand identity, finally seems to be back on the growth track, suggests its June 2011 quarter performance. Some of the major lawsuits in the US courts, which were filed by its investors after its former promoter Ramalinga Raju announced unfair financial reporting practices in early 2009, are now behind the company
The new management has once again started showing traction in new projects with announcements of some major project wins in India and overseas.This has prompted the company to undertake expansion of its software development facilities. In addition, after an exodus of employees in the past, its attrition rate is also gradually returning to average industry levels.
These developments hint at the possibility of a sustainable growth rate in the coming quarters, which makes the stock attractive at current valuations. for more visit: Economic times
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