Nirmal Bang has maintained 'Buy' rating on Satyam Computer Services Ltd stock to achieve a target of Rs 65.

The interested day traders can buy the stock on dips. The strong support is placed in the region of 53.

The stock may see some resistance around Rs 58 levels, but after that it can even have more upward movement.

Shares of the company, on Monday (June 01), closed at Rs 56.65 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 544 and a low of Rs 11.50 on BSE. Current EPS and P/E of the stock stood at 21.32 & 2.92 respectively.

According to Nirmal Bang, the counter is showing strong resilience at lower level.

Satyam Computer Services has made announcement regarding the appointment of Venki Prathivadi as the new country manager for Satyam Australia and New Zealand.

Satyam has also named Vijay Prasad as principal advisor to the region.

Satyam Computer is ready to provide 40% of salary for six months to a majority of 10,000 excess personnel as a division package being arranged by the harassed IT firm.

The company's top management, in talks with its new owner Tech Mahindra, has made a list of approximately 10,000 employees, who have not been billed for more than
6-months now.

On May 25, Satyam said that it is expected to fire the majority of its non-billable employees working in the marketing, human-resource and administrative divisions.

The company's six board members, on May 14, met Prime Minister Dr. Manmohan Singh and Planning Commission deputy chairman Montek Singh Ahluwalia and apprised them regarding the actions taken to revitalize the IT giant.

The meetings with Mr. Singh and Mr. Ahluwalia took place just two days before the declaration of the results of the general elections for the 15th Lok Sabha.

Tech Mahindra`s arm, Ventrubay (P) got hold of up to 302.76 million shares (initial) or 31% of the share capital of Satyam for a consideration of $351 million (Rs
17,560,330,966).