Satyam Computer Services can hope for revival as three new Directors have been announced by the Indian government. Deepak Parekh, Kiran Karnik and C. Achuthan have been appointed to Satyam Computer’s board. The members of board have a tough job ahead. In order to retain client confidence, offer security to employees and control the bad rumors about the company, lot has to be done in the days to come.
Government officers has seized all documentary and official records from Satyam's office at Hyderabad and taken the administrative control of its management.
Union Minister of Corporate Affairs, Prem Chand Gupta said, "The procedure of seizure was on till five in the morning. The eight officers, who have been sent to Hyderabad, will be called inspectors on behalf of the government. They will carry out inspection under [section] 209A of the Companies Act."
Independent Director Mangalam Srinivasan announced her resignation from the board after the company called-off the Maytas Deal. Srinivasan had voted in favor of acquisition of Maytas Infra. Technical Analysts and Industry experts had questioned the role of Independent directors in the decision of Satyam promoters to acquire Maytas Infra.
Satyam Computer lost nearly 30% during early trading session. In domestic market, the stock touched a 52-week low of Rs 151 on NSE and a 52-week low of Rs 156.85 on BSE. Till 11.50 pm IST, 4.8 crore shares on NSE and 1.8 crore shares on BSE exchanged hands. The stock closed yesterday at Rs 226.55 on NSE. Average trading volume on NSE is 48 lakh during the past two weeks.
Satyam Computer Services is a good buy at current levels. The stock has lost over Rs 60 today and is currently trading at Rs 166. Investors can pick the stock at current levels as the fundamentals are strong. Citi rated the stock sell on basis of Corporate Governence issues and not on lower business. The company’s plan to get into other sectors has been condemned by various Institutional Investors.
Country's fourth largest software exporter Satyam Computer Services has informed that it has secured a SAP implementation contract from Oman-based Khimji Ramdas LLC, one of the largest business conglomerates in Oman.
Under the terms of the agreement, Satyam will execute several SAP business solutions in areas such as Finance and Controlling, Treasury Management, Materials Management, Sales and Distribution, Project Systems, Customer Service, HR Payroll, HR Administration Merchandising and Assortment planning, GM SAP Point of Sale and DSD module for VAN sales.
Satyam Computer Services can hope for revival as three new Directors have been announced by the Indian government. Deepak Parekh, Kiran Karnik and C. Achuthan have been appointed to Satyam Computer’s board. The members of board have a tough job ahead. In order to retain client confidence, offer security to employees and control the bad rumors about the company, lot has to be done in the days to come.
Government officers has seized all documentary and official records from Satyam's office at Hyderabad and taken the administrative control of its management. 
Independent Director Mangalam Srinivasan announced her resignation from the board after the company called-off the Maytas Deal. Srinivasan had voted in favor of acquisition of Maytas Infra. Technical Analysts and Industry experts had questioned the role of Independent directors in the decision of Satyam promoters to acquire Maytas Infra.
Satyam Computer lost nearly 30% during early trading session. In domestic market, the stock touched a 52-week low of Rs 151 on NSE and a 52-week low of Rs 156.85 on BSE. Till 11.50 pm IST, 4.8 crore shares on NSE and 1.8 crore shares on BSE exchanged hands. The stock closed yesterday at Rs 226.55 on NSE. Average trading volume on NSE is 48 lakh during the past two weeks.
Satyam Computer Services is a good buy at current levels. The stock has lost over Rs 60 today and is currently trading at Rs 166. Investors can pick the stock at current levels as the fundamentals are strong. Citi rated the stock sell on basis of Corporate Governence issues and not on lower business. The company’s plan to get into other sectors has been condemned by various Institutional Investors.
