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Satyam fraud report by ICAI on July 9

Posted on: June 28th 2009 in Stock News.

The high-powered committee set up by the Institute of Chartered Accountants of India (ICAI) to look into the multi-crore fraud at erstwhile Satyam Computer will submit its report on July 9.”We will submit the report to the Ministry of Corporate Affairs on July 9 after we finalise th…

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Gurnani is Mahindra Satyam CEO; Kalra heads Tech Mah

Posted on: June 23rd 2009 in Stock News.

C P Gurnani was today appointed CEO of Mahindra Satyam — the new brand identity of Satyam Computer Services — while Sanjay Kalra was made CEO of Tech Mahindra. Besides, S Durga Shankar was appointed as the Chief Financial Officer (CFO) of Mahindra Satyam while Vineet Nayyar takes over…

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Satyam hits 10% upper circuit for the third day

Posted on: June 11th 2009 in Stock News.

Satyam Computers for the third consecutive day has hit the 10% upper circuit . The stock opened at Rs 80.5 and got locked there. Around 786,676 shares have been traded on the BSE today.In the Indian ADRs also,Satyam Computers surged a massive 36% to $4.94 source: Business-Standard …

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Satyam faces claims worth Rs 10,000 cr

Posted on: June 10th 2009 in Stock News.

New Delhi: Euphoria over the Rs 181 crore net profit in October-December 2008 notwithstanding, Satyam is still not out of the woods as it faces legal and other claims that could put a burden of up to Rs 10,000 crore on it. These include claims worth about Rs 400 crore related to four over…

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Satyam hits upper circuit, Tech Mahindra gains 17%

Posted on: June 9th 2009 in Stock News.

Satyam has hit the 10% upper limit after the company announced its earnings today. The stock is locked at Rs 66.85. The counter has seen trades of around 11.72 million shares so far on the BSE, with pening buy orders for nearly 1.50 million shares. According to a release issued by Satyam…

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