Satyam bags WB’s $10m deal?

CHENNAI: Bucking a downward trend, Satyam counter closed in black on Friday on talks that it had bagged a multi-million dollar deal from the World Bank. It continued to climb for the second session yesterday, lapping up gains of 4.43 per cent to trade at Rs 223.90 at the BSE. The counter topped the Sensex gainers in morning trades. So far, almost 58 lakh shares of the company have been traded at both the exchanges combined.

Last week Reuters had reported that the World Bank is in talks with Satyam Computer Services to award a $10-million contract for offshore software development and support. We are in the final stages of discussions," Mohamed Muhsin, vice-president and chief information officer of the World Bank.

Nasdaq listed Satyam, on Monday, informed the signing of global alliance with US based Ansys Incorporation to accelerate product innovation, time to market and quality.

Source: IRIS