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Bonus denial dents Satyam Computer

DALAL STREET SPIKES

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Our Markets Bureau Mumbai
Last Updated : Feb 06 2013 | 6:37 PM IST
Satyam Computer ended 2.08 per cent lower after the company denied reports of issuing bonus shares.
 
According to market sources, punters punting at this counter in anticipation of bonus issue sold their holdings soon after the company's denial.
 
The stock in intra-day trades touched a low of Rs 322.10, before closing at Rs 327.20. The counter witnessed massive volumes of 56.82 lakh shares changing hands at the BSE.
 
Satyam was in the thick of action since heavyweight Infosys announced a 3:1 bonus on April 13 and had risen by 5.9 per cent to Rs 335.15 on huge buying in anticipation that it may announce bonus plans after two other IT majors Infosys and Wipro last week announced their intention to come out with a bonus issue.

 
 

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First Published: Apr 16 2004 | 12:00 AM IST

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