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Satyam to be replaced by Sun Pharma in Sensex, effective Jan. 12

This article was posted on Jan 8, 2009 and is filed under Stock News

NEW DELHI: The Bombay Stock Exchange will replace Satyam Computer Services with drugmaker Sun Pharma in the benchmark share index, effective Jan. 12, the spokesman for the exchange said on Thursday. National Stock Exchange said on Wednesday it would remove Satyam from its S&P CNX Nifty 50-share index from the same date.

The head of the Indian outsourcing firm resigned on Wednesday, disclosing profits had been falsely inflated for years, sending its shares crashing nearly 80 percent.

source: Economictimes

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