Mahindra Satyam rallies over 5% on Q3 nos

BSE 23 May 12 | 12:00 AM

71.85		0.15 (0.21%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: 500376

Face Value: N.A.

NSE 23 May 12 | 12:00 AM

71.85		-0.05 (-0.07%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: SATYAMCOMP

Performance
1 Week	:	Rs	69.30	(3.68%)
1 Month	:	Rs	76.25	(-5.77%)
1 Year	:	Rs	73.55	(-2.31%)

Mahindra Satyam rallies over 5% on Q3 nos

Press Trust of India / Mumbai 02 Feb 12 | 12:07 PM

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Shares of IT firm Mahindra Satyam today jumped over 5% in early trade on the company's robust third quarter earnings.

Helped by the smart results, shares of the company opened on a bullish note and gained further 4.78% to Rs 79.90 on the BSE.

Similar uptrend was seen on the National Stock Exchange, where the stock jumped 5.58% to an early high of Rs 80.40.

Mahindra Satyam yesterday reported five-fold rise in profit after tax to Rs 308 crore for the quarter ended December 31, helped by forex gains.

"Mahindra Satyam announced its 3QFY12 results, which were in-line with our expectations on the revenue front but were higher than ours as well as street's expectations on the operating and bottom-line fronts," Angel Broking said in a report.

However, later the scrip witnessed profit booking and was trading at Rs 77.40, up 1.51% from its previous close on the BSE at 1050 hrs.

The company made forex gain of Rs 66.39 crore on account of appreciating US dollar against the rupee.