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Wednesday, January 14, 2009

Satyam Computer hardens on buzz Vivek Paul may be roped in as CEO

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Meanwhile, the BSE Sensex was up 200.33 points, or 2.2%, to 9,270.64.

On BSE, 22.06 lakh shares were traded in the counter. The stock had an average daily volume of 84.96 lakh shares in the past one quarter.

The stock hit a high of Rs 34 and a low of Rs 31.50 so far during the day. The stock hit a 52-week high of Rs 544 on 30 May 2008 and a 52-week low of Rs 11.50 on 9 January 2009.

Satyam Computer Services fell 9.16% to Rs 31.25 on 13 January 2009 as a quick-fix solutions is unlikely to rescue the firm hit by an estimated Rs 7,000 crore accounting fraud. Satyam stock had galloped 44.66% to Rs 34.55 on Monday, 12 January 2009, on hopes a newly constituted three-member board, appointed by the government, would help salvage the company's clients and staff. Earlier, the stock plunged 86.68% to Rs 23.85 on 9 January 2009 from Rs 179.10 on 6 January 2009 after its founder and former chairman B Ramalinga Raju during trading hours on Wednesday, 7 January 2009, admitted to a nearly Rs 7000-crore financial fraud.

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