A maturing market amid the mayhem
Sensex up 1.5 pct, Tech Mahindra jumps after winning Satyam bid
Tech Mahindra will pay $351 million for 31 percent preferential allotment of new shares in the firm.
Shares in Satyam closed 3.6 percent higher at 48.85 rupees. It was the top traded stock on BSE with volumes of over 56 million shares.
Tech Mahindra jumped 12.3 percent, whereas Larsen & Toubro, which has an about 12 pct stake in Satyam, closed 0.5 percent lower.
The other top Sensex stocks included Tata Motors (up 12 percent) and Tata Steel (8.3 percent).
The BSE Metal Index was the best performer amongst sectors, ending 5.5 pct up followed by the Banking index which ended 5 percent higher.
Investor sentiment seems to be improving by the day. Do you think the Satyam development will help the benchmark scale new heights in the days to come?