Karvy Stock Broking Limited has maintained ‘Buy’ rating on Satyam Computer stock with an intraday target of Rs 490.

According to Karvy, day traders can purchase the stock above Rs 482 with a strict stop loss of Rs 475. If the stock market remains on positive track, the next target for the day will be above Rs 500.

Shares of the company, on Monday (July 7), closed at Rs 481.95 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 409295. Current EPS and PE Ratio stood at 25.52 and 18.43 respectively. The share price has seen a 52-week high of Rs 544 and a low of Rs 305 on BSE.

The outlook for the stock is really very strong, and it is expected to rise on the back of huge volumes.

Satyam Computer Services has signed up a JV deal with Tyfone, a global provider of mobile financial services, for providing mobile financial services.

The JV deal will combine Satyam’s deep domain experience and system integration proficiency with Tyfone’s entire mobile financial services infrastructure and would provide institutions enhanced solutions and technology.

On July 4, the company’s board allotted 43,265 equity shares under stock option plans of the company.

Consequent to the above allotment, the paid up share capital of the company has gone up from 672,559,986 equity shares of Rs 2 each aggregating Rs 1,345,119,972.00 to 672,603,25, equity shares of Rs 2 each aggregating Rs 1,345,206,502.00.

Moreover, the company announced on Thursday the launch of SatyamStarPower.com, a web portal designed to showcase the creative talents of its employees worldwide.

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