Nestle deal fails to enthuse Satyam Computer

DALAL STREET SPIKES

Satyam Computer's three-year deal with Swiss food giant Nestle, failed to impress the markets as the overall breadth remained negative.

The stock after a brief rally in the morning trade ended negative with selling pressure witnessed across most tech counters.

Satyam after hitting the day's high of Rs 299, finally ended at Rs 292.80, down 0.41 per cent from its previous close. More than 64.12 lakh changed hands at this counter at the BSE.

According to analysts, the negative sentiment towards the entire tech sector led to Satyam counter slipping even after the company announced winning a three-year contract from Swiss food giant Nestle to provide SAP application support for Nestle's GLOBE business excellence program.