Mahindra Satyam dips by nearly 6 percent after Q4 results

Monday, 23 May 2011, 19:30 IST
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Mumbai: Shares of Mahindra Satyam slumped by nearly 6 percent in morning trade on the bourses after the company reported a net loss of Rs 327 crore for the quarter ended March 31, 2011. Following the results, the scrip of the IT firm fell by 5.79 per cent to touch a low of Rs 72.30 on the BSE, while on the NSE, it tanked by 5.98 per cent to hit an early low of Rs 72.30. "The numbers are below-the-market expectations and that is the reason the stock is trading under pressure," Ashika Stock Brokers Research Head Paras Bothra said. On the volume front, over one crore shares of the company changed hands on the bourses within the first two hours of trade.
Source: PTI