Mahindra Satyam soars 12 percent ahead of annual earnings in two years

Mumbai, Sep 22 (Calcutta Tube) Shares of Satyam Computer Services, now renamed Mahindra Satyam, soared over 12 percent Wednesday, a week ahead of the disclosure of audited financial results for the past two fiscals.

Post the takeover of the scam-hit Satyam Computer Services, the Mahindra group had asked for more time to audit financial data during 2009-10 and the previous fiscal.

The data is to be declared Sep 29.

At the Bombay Stock Exchange, the Satyam Computer Services scrip rose 12.33 percent to touch the intra-day high of Rs.107, compared to its previous close at Rs.95.25.

The stock of Tech Mahindra, the IT arm of Mahindra and Mahindra group, too was up 8 percent at Rs.786.15, having touched an intra-day high of Rs.786.30. It had closed Tuesday at Rs.727.95.

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