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Mahindra Satyam jumps 11 pct

September 3, 2010


Shares in Mahindra Satyam ended 10.6 percent higher at 91.40 rupees after gaining over 11 percent in trade on Friday after the outsourcer won a multi-million dollar deal from a large health insurer a day earlier.

Earlier last month, a court in Hyderabad granted bail to the former chairman and founder of outsourcer Satyam Computer Services, subsequently renamed Mahindra Satyam, in a case of accounting fraud that turned out to be India’s biggest corporate scandal.

Shares in the company have so far disappointed investors, slipping over 6 percent so far this year.

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