Satyam Computer spurts on Jordan deal

DALAL STREET SPIKES

Domestic IT company, Satyam witnessed smart gains in intra-day trades after the company announced about bagging $1 million overseas deal.

The stock, which was among the top gainers in the Sensex basket, slipped at the fag end of the session to end 0.01 per cent high at Rs 429.70. The counter witnessed increased activity with volumes accounting for more than 14.6 lakh shares on BSE.

Satyam announced that it has bagged a $1 million Oracle e-Business suite deal from Jordan's third largest GSM operator, Umniah Mobile Company (UMC). UMC is the first telecom operator in Jordan to adopt the third GSM business model in the Middle East.

The company will implement a CRM solution with a POS system for UMC's customer contact center, which will be integrated with Oracle financials, procurement & inventory modules in the back office.

These systems will be further integrated with UMC's mediation, provisioning, billing systems and IN (intelligent network). Market sources said, IT stocks are back in the reckoning and have witnessed smart gains on renewed buying by large funds.