Satyam surges on agreement to settle case with Upaid

The stock ended at Rs 108, up 5% from its previous close. The counter witnessed trades of  12.53 million shares as compared to the two-week daily average traded volumes of 10.56 million shares.
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(Updated at 1034hrs)

Satyam has surged 6% after the company agreed to pay Rs 325 crore as a part of a settlement to UK-based Upaid, as the latter cliamed damages of 1 billion dollar for alleged forgery, fraud and breach of contract.

The scrip has opened at Rs 106 and zoomed to a high of Rs 112. The stock is now trading at Rs 109, up 6% from the previous close. The counter has clocked volumes of 4.60 million shares as compared to the two-week daily average traded volumes of 10.56 million shares on the BSE. The stock has zoomed 14% in a week's time.