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Mahindra Satyam surges on plan to set up infrastructure and support services

20 Apr 2012 Evaluate

Mahindra Satyam is currently trading at Rs. 78.70, up by 0.85 points or 1.09% from its previous closing of Rs. 77.85 on the BSE.

The scrip opened at Rs. 77.75 and has touched a high and low of Rs. 78.85 and Rs. 77.65 respectively. So far 74981 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. 80.00 and Rs. 77.50 respectively. The current market cap of the company is Rs. 9273.17 crore.

The promoters holding in the company stood at 42.64% while Institutions and Non-Institutions held 27.84% and 29.51% respectively. 

In a bid to set up infrastructure and support services for its clients over the next three years, Mahindra Satyam is planning to spend about $240 million globally. Of which 50 percent of the investment will be made in Asia Pacific, especially in Singapore, Malaysia and Indonesia.

The majority of the investments will go into creating infrastructure, training and development facilities and solutions either in engineering or mobility to create specific solutions for the markets.

Further, the company, which is in the midst of completing its merger with another group company Tech Mahindra, would also be opening an office in Vietnam's Ho Chi Minh City within a couple of months as it expands in the Asia Pacific region.

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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