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Shares in Mahindra Satyam ended 8.7 percent lower at 90.25 rupees on Thursday after the company reported a net loss for 2009 and 2010 after market hours the previous day.
For the year ended March 2010, Satyam posted a net loss of 1.25 billion rupees on revenue of 54.8 billion rupees. For fiscal 2009, it had a loss of 81.77 billion, wiping out most of the revenue of 88.13 billion rupees.
In another report, JPMorgan downgraded Mahindra Satyam to neutral from overweight as restated financials restored normalcy. Shares in Tech Mahindra ended 5.2 percent lower at 752 rupees.
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Mahindra Satyam on Wednesday reported net losses for FY2009 & FY2010, giving the first view of its financial state almost 2 years after it was hit by India’s biggest corporate fraud.
Shares in Satyam ended just 0.1 percent higher at 98.9 rupees ahead of results announcement.
The BSE Realty Index gained 2.7 percent on Friday and ended as the top sectoral gainer, with stocks such as DLF and Unitech posting smart gains.
DLF, India’s top listed firm, ended 5.2 percent higher at 365.65 rupees, while Unitech gained 3.14 percent. Sobha Developers topped the index with gains of 6.5 percent.
Bank stocks corrected on Thursday and the banking index ended down 1.2 percent, as the overall market slipped on profit booking.
SBI and ICICI Bank closed down 0.2 percent and 2.3 percent respectively. HDFC Bank and mortgage lender Housing Development Finance lost 0.6 percent.
The BSE FMCG Index closed 3.5 percent higher on Monday and topped the list of sectoral gainers with stocks such as ITC and Colgate posting smart gains.
ITC touched an intra-day high of 5.9 percent, its highest level in at least 20 years, helped by robust domestic consumption. The share closed 4.9 percent up.
Shares in Sensex heavyweight Reliance Industries rose over 2 percent in trade on news that was in talks with U.S.-based Chesapeake Energy to buy a stake in Eagle Ford shale gas project.
Reliance Industries closed 2.5 percent higher at 1026 rupees, having led the gainers list on the Sensex which ended at a fresh 32-month high at 19594.
The BSE Realty Index closed 1.2 percent higher on Thursday while the broader market remained volatile and closed 0.4 percent lower at 19417.
Shares that boosted the sectoral index were DLF (up 2.6 percent), Unitech (up 1.5 percent) and Ansal Properties (up 2.1 percent). However, Omaxe dropped over 2 percent.