Satyam continues to witness heavy selling pressure. The stock is now down over 28% at Rs 163.
At 1200 hrs, over two crore shares have changed hands at the counter as against two-week average traded volume of around seven lakh shares on the BSE.
Updated at 1002 hrs
Satyam has slumped over 25% in opening trades this morning on the Bombay Stock Exchange following the Maytas deal fiasco.
The company's board yesterday announced its plans to diversify into infrastructure by approving $1.6 billion investment in Maytas Infra and Maytas Properties.
However, the company today called off the deal following negative feedback from the investor community.
The stock tumbled to a low of Rs 157, and at 1000 hrs was trading at Rs 170 - down 25% on hefty volumes of around 20 lakh shares.
The ADR yesterday had plummeted nearly 55%, however, the ADR had recovered its entire lossses in after hours trades following the deal being called off.
