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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)
