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Mahindra Satyam shines on getting nod to merge with Tech Mahindra

11 Jun 2012 Evaluate

Mahindra Satyam is currently trading at Rs. 77.60, up by 0.90 points or 1.17% from its previous closing of Rs. 76.70 on the BSE.

The scrip opened at Rs. 77.50 and has touched a high and low of Rs. 79.25 and Rs. 77.20 respectively. So far 97004 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. 79.25 and Rs. 72.25 respectively. The current market cap of the company is Rs. 9161.58 crore.

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

Mahindra Satyam has received its shareholders approval for merger of the firm with its parent company Tech Mahindra. The company received the approval for the same at the respective extraordinary general meeting (EGM) of the two companies held earlier this week and the EGM was convened as per the orders of Andhra Pradesh High Court.

Earlier, the company received the approval of Competition watchdog CCI for the same while; both the companies’ boards had proposed a swap ratio of 2:17. This means for every 17 shares held in Mahindra Satyam, shareholders will get two shares in Tech Mahindra. Following the merger, the merged entity will be the India’s fifth largest software company with annual revenue of about $2.4 billion.

Mahindra Satyam is a global business consulting and information technology service company leveraging deep industry and functional expertise, leading technology practices and a global delivery model to help business transform their process and improve performance.

Peers
Company Name CMP
TCS 2570.00
Infosys 1312.00
HCL Tech. 1448.25
Wipro 209.70
Tech Mahindra 1483.20
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