Market Regulator to examine Satyam

Mumbai, Dec 19: Market Regulator said on Friday, Dec 19 that third IT major, Satyam Computers' thwarted attempt to acquire two promoter companies would be examined. The compnay, which is planning to buy back shares to regain investor confidence, saw its scrip slide again in Friday, Dec 19 morning trade.

"We do not want to react quickly to the incident (the acquisition bid that triggered investor outrage), but we will study issues involved and then take a decision," Securities and Exchange Board of India (SEBI) Chairman C B Bhave told reporters.

The Satyam scrip fell about 3 per cent since its previous close and was trading around Rs.166, while Maytas Infra - one of the companies Satyam was planning to acquire - saw the free fall of its share value continuing, the scrip losing another 20 percent since Thursday's close.

The Maytas stock was trading at around Rs 248 during morning trade Friday, down Rs 62.10 since its previous close of Rs.310.65.

OneIndia News (With inputs from Agencies)