Shares of IT firm Mahindra Satyam today jumped over 5% in early trade on the company's robust third quarter earnings.
Helped by the smart results, shares of the company opened on a bullish note and gained further 4.78% to Rs 79.90 on the BSE.
Similar uptrend was seen on the National Stock Exchange, where the stock jumped 5.58% to an early high of Rs 80.40.
Mahindra Satyam yesterday reported five-fold rise in profit after tax to Rs 308 crore for the quarter ended December 31, helped by forex gains.
"Mahindra Satyam announced its 3QFY12 results, which were in-line with our expectations on the revenue front but were higher than ours as well as street's expectations on the operating and bottom-line fronts," Angel Broking said in a report.
However, later the scrip witnessed profit booking and was trading at Rs 77.40, up 1.51% from its previous close on the BSE at 1050 hrs.
The company made forex gain of Rs 66.39 crore on account of appreciating US dollar against the rupee.
