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from Money on the markets:
Tech Mahindra, Mahindra Satyam gain on Mahindra-Cisco deal
Shares of Mahindra group firm Tech Mahindra jumped 9.26 percent to 739 rupees, while outsourcer Mahindra Satyam rose 3.7 percent to 64.90 rupees after an agreement between Mahindra group and Cisco Systems was announced.
Mahindra group is partnering with U.S. telecom equipment maker Cisco Systems to provide a range of services including cloud computing.
For the year, Tech Mahindra has fallen over 25 percent while Mahindra Satyam rose over 20 percent.
Do you think there will be more upside for Mahindra Satyam after the Cisco alliance?
from Money on the markets:
Tech Mahindra drops after results
Shares of Tech Mahindra fell sharply on the first day of trade after the company declared a drop in Q2 profits after market hours on Tuesday.
Tech Mahindra said second-quarter net profit fell more than 10 percent as the IT services firm booked a charge related to its shareholding in Mahindra Satyam.
from Money on the markets:
Satyam gains in choppy market
Shares of Mahindra Satyam rose in an otherwise lacklustre market today, ending 5.41 percent higher at 112.95 rupees.
During market hours on Wednesday, Larsen & Toubro Ltd sought permission from market regulators to sell its stake in outsourcer Mahindra Satyam Ltd, according to a company spokesman.
from Money on the markets:
Profit-taking halts 8-day Sensex rally
The Sensex broke a long positive run today and closed below 11,000 as investors booked profits in a market that had gained over 18 percent in the eight-session rally. The benchmark close at 10947, registering a drop of almost 3 percent
The fall was led by heavyweights like Reliance Industries, which slipped 4.8 percent, L&T, which was down 5.3 percent, and ONGC, which fell 4.8 percent.
from Money on the markets:
Sensex up 1.5 pct, Tech Mahindra jumps after winning Satyam bid
A rally in global markets today saw the BSE Sensex swing from being briefly negative in early deals to over 11,000 in the last hour of trade, before closing 1.5 percent up at 10,967.
The big news of the day was Tech Mahindra winning the bid for fraud-hit Satyam Computer.
from India Insight:
Dark horse Tech Mahindra wins race to acquire Satyam
Tech Mahindra, part of Indian business group Mahindra & Mahindra, won the race to acquire Satyam Computer Services on Monday, in a deal that'll help the mid-sized outsourcer gain in size and also lift clarity on Satyam's fate.
In a race that saw only a handful of bidders, Tech Mahindra beat rivals such as engineering conglomerate Larsen & Toubro and U.S.-listed Cognizant Technologies. Tech Mahindra agreed to buy a 31 percent stake in Satyam at 58 rupees, a 23 percent premium to Satyam’s last closing price.
from DealZone:
Another deal in healthcare: what’s the magic pill?
As dealmakers everywhere struggle to get deals done, the healthcare industry seals yet another one.
Express Scripts has agreed to buy health insurer WellPoint's prescription business for $4.68 billion in a significant expansion for the U.S. pharmacy beenfit manager. The deal will be a concoction of cash and up to $1.4 billion in common stock, and will generate more than $1 billion of incremental EBITDA.
