Monday, April 13, 2009

Tech mahindra bags Satyam

Tech Mahindra bags satyam for Rs.58 per share i.e 1750 crore. In my opinion, it is good for tech mahindra as they rely on single client business i.e British Telecom and it means risk diversification for the tech mahindra as a whole.

Some time back i predicted there may not be much cheer for shareholders as the bid price might not be in big premium to market price. Satyam moved up from Rs.40 levels to Rs.50 levels. It is likely to hover around Rs.45 to Rs.55 band until take over completion.

ET reported last week that Tech-M is withdrawing and they ended up having egg on their face ! Most of their recent scoop failed miserably and it is not good for their brand.

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