Stock market analyst Hitendra Vasudeo of stockmechanics.com has maintained ‘buy’ rating on Satyam Computers stock with an intraday target of 446.

According to Mr. Vasudeo, interested traders can purchase the stock above Rs 426 with a strict stop loss of Rs 414. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 451.

Shares of the company, on Monday (Aug 14), closed at Rs 419.10 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 663401. Current EPS & P/E ratio stood at 28.27 and 14.24 respectively. The share price has seen a 52-week high of Rs 544 and a low of Rs 305 on BSE.

The stock has good potential and it can still exhibit superb surge. It will achieve the target price as the company has healthy expansion plans and strong operating capabilities.

On Aug 13, Satyam’s compensation committee of directors allotted 35,420 equity shares under the company’s stock option plans.

Consequent to the above allotment, the company’s paid up share capital surged from 672,972,961 equity shares of Rs 2 each aggregating Rs 1,345,945,922 to 670,008,381 equity shares of Rs 2 each aggregating Rs 1,346,016,762.

Satyam Computer Services, on Aug 12, signed an agreement with RelWare, a leading developer of Web-based solutions for healthcare in order to implement, customize, train, and supply specialized services for RelWare`s OneRecord™ solution all over the world.

On Aug 8, the compensation committee of directors of Satyam Computer Services allotted 35,005 equity shares, under stock option plans of the company.

The company on Aug. 04, 2008 announced that it has partnered with ChangeBASE, the London-based maker of the AOK suite of compatibility products.

For the three months period ended June 2007, Satyam recorded a 48 percent growth in net profit, which stood at Rs 5759.10 million as against a profit of Rs 3891.40 million.

Net sales zoomed 43.65% to Rs 25,269 million for the same period, as against Rs 17,590.80 million for the quarter ended June 2007.

Other stocks from the same sector that looks good for short-term as well as long-term trading includes TCL, Infosys, HCL Tech and Wipro.