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Mahindra Satyam shares jump on earnings

Software services exporter Mahindra Satyam jumped 11.7 percent to 64.65 rupees after the firm reported its third quarter net profit, which more than doubled from a quarter ago.

The company also said that it put a planned merger with its parent firm, Tech Mahindra, on hold.

Shares in Tech Mahindra ended 10.6 percent higher.

Do you think it is a good time to buy Mahindra Satyam’s shares?

Satyam jumps, decent gains for other IT stocks

Shares in Mahindra Satyam gained 6.1 percent on Tuesday to close at 106.05 rupees. IT stocks in general posted decent gains, boosting the BSE IT Index 0.4 percent.

Shares in Mahindra Satyam have notched good gains, rising over 8 percent this year. Its shares had hit a low of 11.5 rupees almost a year ago after the then chief, R Raju, had confessed that the company’s profits had been overstated for years.

Other stocks like Financial Technologies gained 4 percent while Aptech ended 2.5 percent higher. Wipro gained 1.6 percent and Infosys ended marginally in the green.

What’s your favourite bet in this sector currently?

IT space struggles but Satyam soars

Shares in Mahindra Satyam closed nearly 8 percent higher on Thursday, bucking the trend as the overall IT space remained weak.

The BSE IT index closed 1.4 percent lower, with stocks such as Infosys and TCS ending down over 1.5 percent. Outsourcers like Infosys which get most of their revenue in dollars, felt the heat as the rupee climbed to a near 13-month high.

Satyam shares closed at 116.6 rupees with volumes of over 12 million shares on the BSE, its highest single-day volume since Sept 2.

Satyam shares have generated huge returns for investors this year. It has swung from a low of 20.3 rupees on January 15, after Ramalinga Raju disclosed that the company’s profits had been falsely inflated for years, to 123.25 rupees on September 1, translating to a return of over 500 percent.

Would you invest in Satyam shares which is seeing a rally now?

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.

L&T which lost out in the race for a controlling race in Satyam is considering the exit route, but under current conditions of sale, bidders for the company are barred from selling their stake.

L&T’s stake in Satyam dropped from 12 percent to 6.9 percent (valued at nearly 9 billion rupees or $190 million) post sale of the outsourcer to Mahindra, according to Thomson Reuters data. Institutional investors hold 10.39 percent, insiders or stakeholders 50.18 percent and mutual funds about 8.45 percent.

Mumbai-based L&T, which operates in diverse industries such as software, shipbuilding and engineering, closed 0.31 percent lower at 1514.8 rupees.

Satyam shares have steadily firmed up after the January 7 low of 23.85 rupees and posted a record return of 168.21 percent for the period till August 4.

The year to date return of Satyam on the BSE Sensex was -37.03 percent, while the standard deviation was a whopping 29.64 percent.

Sensex slips 55 points in choppy trade

Investors today booked profits in a market that had touched a 10-month high on Wednesday, bringing the benchmark down by 55 points.

The Sensex closed at 15,411 after recovering over 150 points from the day’s low. The index was led lower by losses in Infosys, ONGC and SBI.

Info-tech stocks stood out for their bad run, with the sectoral index shedding 2.5 percent. Infosys Technologies and Wipro lost 2.8 and 2.1 percent respectively.

Outsourcer Satyam however bucked the trend, closing at 80.8 after hitting the 10 percent upper circuit for the third day in a row (Satyam – Full Coverage).

Gains were seen in the metal index. JSW Steel was up nearly 9 percent, while Hindalco ended 8 percent higher.

ACC, Maruti Suzuki, Mahindra & Mahindra and Colgate touched their 1-year highs today.

With several investors still sitting on huge profits made over the past few months, do you think profit-booking will derail the recent rally?

Sensex extends gains, up 14 pct over 5 sessions

The stock market ended 1.1 percent higher on Friday at 13,887, on account of buying by some funds, taking its gains for the week to 14 percent.

The election result has helped in restoring battered investor confidence.

Heavyweight stocks like Reliance Industries, ICICI Bank and L&T led the benchmark rise.

The BSE Small-cap index gained over 3 percent as some small-cap stocks rallied. NIIT gained 23 percent, Zandu Pharma rose 20 percent and NDTV gained 16.95 percent.

In sectors, the capital goods index notched up gains of nearly 3 percent, whereas the Bankex ended 1.8 percent higher.

Karnataka Bank was the top bankex performer with gains of 14.1 percent, followed by ICICI, which rose 4.5 percent.

Shares in Satyam surged by over 10 percent to close at 53.65 rupees.

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.

Shares in Satyam slipped over 5 percent. The Company Law Board today approved the takeover of the firm by Tech Mahindra.

Realty stocks took a beating with the index ending down over 9 percent. Unitech, one of India’s top listed realty firm, ended down 9.7 pct at 43.3 rupees after hitting an intra-day high of 56.15. It was also the top traded counter on BSE.

All sectoral indices, except the FMCG index, closed in the negative.

With general elections kicking off in the country today, do you think political uncertainty will weigh on investor sentiments?

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.

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.

Sensex gains 1.8 pct, Satyam surges

The stock market traded firm today and extended gains by 1.8 percent after an extended weekend.

The Sensex closed 186 points higher at 10,534.8, as strong Asian markets helped boost investor sentiments.

HDFC, L&T and Reliance Communications led the benchmark. Mahindra & Mahindra was the top index gainer, closing 14.2 percent higher.

Among sectors, the BSE Consumer Durables Index led with gains of 5.8 percent, followed by the capital goods index which was up 3.75 percent. All indices, barring the FMCG index, closed in positive territory.

It was a good day for Satyam shareholders, as the scrip surged over 13 percent to close at 45.15 rupees. It was also the top traded stock on the BSE with volumes of over 28 million shares.

There seems to be an improvement in market sentiment – it was the fourth straight session of gains for the benchmark. Do you think the rally is sustainable? Is 11,000 achievable this week?

Sensex ends 4.8 pct lower; below 10,000

The Sensex started the week on a negative note, closing 4.8 percent lower after a 12 percent rally last week.

The benchmark index ended at 9,568, having struggled throughout trade as investors booked profits. It had dropped over 5 percent just before close.

The fall was led by financial stocks such as ICICI Bank, HDFC and SBI.

Top among the Sensex losers were ICICI Bank, Tata Steel and JP Associates, all dropping over 12 percent.

Most sectoral indices succumbed to selling pressure and ended in negative territory. The banking index ended down 8.5 percent, while the metal and realty indices slipped over 7 percent each.

Satyam Computer slipped over 8 percent and was one of the top traded counters on the BSE.

Most stocks floundered as they tried to sustain the momentum gained in the previous sessions. Do you think we are again headed towards the 8,000 levels in weeks to come?