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Mahindra Satyam rises on entering into global services agreement with FuelQuest

Mahindra Satyam Ltd. (Amalgamated) | IT - Software | IT & ITES | BSE: 500376 | NSE: SATYAMCOMP

22 Feb 2012 Evaluate

Mahindra Satyam is currently trading at Rs. 73.80, up by 0.10 points or 0.14% from its previous closing of Rs. 73.70 on the BSE.

The scrip opened at Rs. 74.40 and has touched a high and low of Rs. 75.15 and Rs. 73.55 respectively. So far 842801 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 94.20 on 05-Jul-2011 and a 52 week low of Rs. 59.05 on 28-Feb-2011.

Last one week high and low of the scrip stood at Rs. 76.90 and Rs. 72.60 respectively. The current market cap of the company is Rs. 8684.70 crore.

The promoters holding in the company stood at 42.65% while Institutions and Non-Institutions held 21.28% and 30.12% respectively.

Mahindra Satyam, a leading global consulting and IT services provider, has entered into a global services agreement with FuelQuest, a leading on-demand software and services company for the downstream energy industry. The company has agreed to provide implementation and support services to FuelQuest as it scales its operations across India, Brazil, China, Russia, U.S.A and other target countries.

Mahindra Satyam is already engaged with FuelQuest and supports its growing pipeline of tax automation implementations as well as software support needs. Mahindra Satyam will augment FuelQuest’s team to provide additional onsite or remote implementation and support services with regards to international customers. To scale appropriately with FuelQuest, Mahindra Satyam will establish the FuelQuest Service Center within its delivery centre in India staffed with experienced software professionals dedicated to delivering world-class fuel management and tax automation services.

FuelQuest provides on-demand fuel management, tax automation, and compliance solutions for suppliers, distributors, buyers, and traders of petroleum products and other energy commodities. FuelQuest's solutions deliver operational and financial value to over 650 customers.

Mahindra Satyam is a leading global business and information technology services company that leverages deep industry and functional expertise, leading technology practices, and an advanced, global delivery model to help clients transform their highest-value business processes and improve their business performance.

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Peers

Company Name	CMP
TCS	2472.65
Infosys	1277.35
HCL Tech.	1429.90
Wipro	203.00
Tech Mahindra	1435.80
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Mahindra Satyam rises on entering into global services agreement with FuelQuest

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