Poor results? Mahindra Satyam tanks on BSE
Reacting sharply to the losses, the IT major started the day on weaker note and plunged 6.72% to hit an intra-day low of Rs 92.25 on BSE.
By PTI |
MUMBAI: Shares of Mahindra Satyam tumbled by nearly 7 per cent in early trade on the BSE today, a day after the company suffered a net loss of Rs 124.60 crore for the financial year ended March, 2010.
Mahindra Satyam, earlier known as Satyam Computer Services, had yesterday reported the financial results for two fiscals -- 2008-09 and 2009-10. It had reported a net loss of Rs 124.60 crore for the financial year ended March, 2010, while the same was Rs 8,176.8 crore in FY'09.
Reacting sharply to the losses, the IT major started the day on weaker note and plunged 6.72 per cent to hit an intra-day low of Rs 92.25 on the Bombay Stock Exchange.
The scrip had yesterday closed at Rs 98.90, reflecting a marginal gain of 0.1 per cent on the BSE.
The company's board has also approved the delisting of its shares from the New York Stock Exchange post its failure to comply with the US accounting norms.
On the National Stock Exchange, the scrip was trading lower by 5.91 per cent at Rs 93.10.
Besides, Infosys Technologies was trading up 0.13 per cent, while TCS was down 0.36 per cent and Wipro 0.35 per cent on the BSE.
The broader market barometer Sensex was quoting lower by 40.19 points at 19,916.15.
Mahindra Satyam, earlier known as Satyam Computer Services, had yesterday reported the financial results for two fiscals -- 2008-09 and 2009-10. It had reported a net loss of Rs 124.60 crore for the financial year ended March, 2010, while the same was Rs 8,176.8 crore in FY'09.
Reacting sharply to the losses, the IT major started the day on weaker note and plunged 6.72 per cent to hit an intra-day low of Rs 92.25 on the Bombay Stock Exchange.
The scrip had yesterday closed at Rs 98.90, reflecting a marginal gain of 0.1 per cent on the BSE.
The company's board has also approved the delisting of its shares from the New York Stock Exchange post its failure to comply with the US accounting norms.
On the National Stock Exchange, the scrip was trading lower by 5.91 per cent at Rs 93.10.
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Besides, Infosys Technologies was trading up 0.13 per cent, while TCS was down 0.36 per cent and Wipro 0.35 per cent on the BSE.
The broader market barometer Sensex was quoting lower by 40.19 points at 19,916.15.
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