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Mahindra Satyam surges 15% on bourses

This article was posted on Aug 10, 2011 and is filed under Market News

Shares of IT company Mahindra Satyam surged by 15% in early trade on the bourses today after the company clocked a Rs 225 crore profit for the June quarter.

After a robust opening, the stock spurted by 15% to touch an early peak of Rs 81.80 on the NSE. A similar trend was witnessed on the BSE, where the stock shot up by 12% to an early high of Rs 79.80.

The surge in the stock market was in line with the bullish trend in the broader market, which has been reeling under heavy selling pressure for the past few days.

The BSE benchmark Sensex index opened nearly 400 points higher, snapping a six-session losing streak, and was later trading at 17,104, up 245.71 points. Source: Business Standard

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