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Mahindra Satyam jumps 11 pct

September 3, 2010

MARKETS-SOUTHASIA-STOCKS/

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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