Satyam soars 12 p.c ahead of annual earnings

MUMBAI, INDIA: Shares of Satyam Computer Services, now renamed Mahindra Satyam, soared over 12 per cent on Wednesday, a week ahead of the disclosure of audited financial results for the past two fiscals.

Post the takeover of the scam-hit Satyam Computer Services, the Mahindra group had asked for more time to audit financial data during 2009-10 and the previous fiscal.

The data is to be declared on September 29.

At the Bombay Stock Exchange, the Satyam Computer Services scrip rose 12.33 percent to touch the intra-day high of Rs.107, compared to its previous close at Rs.95.25.

The stock of Tech Mahindra, the IT arm of Mahindra and Mahindra group, too was up 8 percent at Rs.786.15, having touched an intra-day high of Rs.786.30. It had closed Tuesday at Rs.727.95.