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Mahindra Satyam gains on plans to acquire European company

29 Mar 2012 Evaluate

Mahindra Satyam is currently trading at Rs. 76.85, up by 0.15 points or 0.20% from its previous closing of Rs. 76.70 on the BSE.

The scrip opened at Rs. 78.00 and has touched a high and low of Rs. 78.00 and Rs. 75.70 respectively. So far 163652 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. 62.10 on 26-Aug-2011.

Last one week high and low of the scrip stood at Rs. 82.55 and Rs. 74.80 respectively. The current market cap of the company is Rs. 9020.16 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, which is being bought out by Tech Mahindra, is in talks to acquire a company in Europe to strengthen the services it provides to the aerospace industry and the company for this is expected to spend $150 million. Buying a service provider to the aerospace industry will help the company to cut dependence on telecommunications customers.

Earlier this month, the diversified Mahindra Group announced the long-awaited merger of Mahindra Satyam with its another technology arm Tech Mahindra in an all-share deal that would create India's fifth largest software firm with an estimated annual revenue of about $2.4 billion. However, after the merger with Tech Mahindra is completed this year, 80 percent of the company’s employees would cater to Australian 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.

Peers
Company Name CMP
TCS 2577.10
Infosys 1318.90
HCL Tech. 1450.70
Wipro 210.20
Tech Mahindra 1490.90
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