Satyam shares surge 31% amid buyout talks, iGate expressing interest n acquiring parts of the company.
Saturday, January 24th, 2009
MUMBAI: Beleaguered IT major Satyam Computer today surged over 31% on country’s two main bourses, amid software company iGate expressing interest n acquiring parts of the company.
Shares of Satyam surged 31.25% to settle at Rs 38.85 on the BSE. During the trade the scrip had surged to a high of Rs 39.30, on the BSE.
Analysts said that the gain in Satyam scrip was mainly due to acquisition rumours doing rounds about the IT firm.
iGate CEO Phaneesh Murthy today said that the company was interested in initiating talks for a possible acquisition of some businesses of Satyam.
“We are interested in a dialogue with Satyam and currently are quite keen and comfortable to acquire selective portions of the business,” Murthy said.
On the National Stock Exchange, the scrip closed with a gain of Rs 38.85, up 31.25 per cent after touching an intra-day high of Rs 39.35 on the NSE.
Over 20.26 crore shares got traded on the NSE, while 11.14 crore shares changed hands on the BSE.
Satyam’s director Tarun Das had earlier said that the company had been approached by Indian and international IT companies and that the board would decide on it.
Murthy said that, “We have to wait for the new board at Satyam to evaluate all strategic options and based on that evaluation, set the direction for the company, before we disclose what our strategic plan is.” - Source: TOI