SATYAM COMPUTER stock price crashed another 14% on reports of Wipro’s denial to buy stake in the company.
Satyam computer’s share price has fallen nearly 40% since the company called off the deal to buy stake in the MAYTAS (owned by the promoter family) The stock has seen huge volumes since then and the investors and the trader have been selling the shares in market, if one has to go by the market rumors the stock may plunge to sub Rs.100 levels.
Fundamental analyst says the counter may have seen the steep fall and at current market price of 140 the stock seems to be attractive investment. But they also have a view that the stock price may rise only if there is any change in the satyam’s top management.
Analysts feel technically the stock has good support near Rs.140. below which the stock may see further fall
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IT Companies, maytas, satyam computer, stock price, support
Indian IT Firm WIPRO LTD, is reported to buy Citi’s India tech arm for USD 127 million for cash. Citi Tech Services is an India-based captive provider of IT services and solutions and its revenues were approximately USD 80 million in CY08. The agreement provides for delivery of at least USD 500 millon in service revenue over the period of the contract. The transaction is expected to be closed by March 2009.Citi’s Tech Head said Citi Tech Services has close to 1700 people with revenues close to USD 80 million this year. According to him, integration with Wipro will provide a larger suite of services and help drive productivity and scale.
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buy out, citi, tech arm, USD 500 millon, wipro
10-Apr-2008
IT People Ltd.
Core Projects Ltd.
C&C Construction Ltd.
11-Apr-2008
Spice Communication
Great Offshoure
15-Apr-2008
INFOSYS
16-Apr-2008
TCS
India Bulls Fin
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Core Projects, Core Projects Ltd, Infosysy, IT People Ltd, TCS
Mastek Ltd, has Reported its third quarter numbers. It has posted net profit of Rs 35 crore for the quarter ended March 2008 as against Rs 27.1 crore in previous quarter. Its revenues stood at Rs 239 crore versus Rs 211.7 crore.
The company also said it may do better in the next quater, market reports is that these number are strong as given the Dollar movement and the US slowdown.
The company share price moved up almost 30Rs on bse the movrement results were anounced.
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Mastek, profits, Q3 net profit
State owned BHEL which came out with the results on Thursday April 3, 2008. Has reported an q4 results below market expatiations
After the company announced the results the share price fell more than Rs 100 on stock exchanges.
But the market news is that the company has long order book and the fall in this quarter margins was due to provisioning of wages.
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India’s leading electronic and consumer goods company VEDEOCON is looking to buy out the Motorola’s mobile business.
As per the leading news papers and the business news channels in India the company has already has appointed words top three investment bankers to convey the companies interest to buy out the mobile business.
Vedeocon which operates the retails chain with more than 1000 outlets under NEXT brand and also started its GSM business with over 6000 core investment.
Right now the Indian mobile market need 120 million units a year and growing demand every day.
Motorola has the market share of around 14% in global headset market just behind SAMSUNG and Nokia
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investment, Mobile, motorola, videocon
Continuing their acquisition ride, TATA sons acquired Ford’s Land Rover and Jaguar brands.
Even the markets gave the thumbs down to stock price and the stock was down more than 10% and closed at 679. The company feels that it has made the right decision by buying out the Ford brands and that it will boost the companies performance in the long run.
This was be an all cash deal and TATA’s have paid $2.43b
Investors with long term view can invest in the stock.
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Acquisition, Ford, Jaguar, Land Rover, tata
Short selling allows a trader to sell shares even if they do not own them, in other words taking a “negative position”. One can do this when he expect the value of the shares may come down in the market.
Allowing him to sell shares at one price and then buy them back when the share price has come down. With a large enough move in the share price, the trader can purchase the shares, at lower level and close the potion.
One has to take care if the share price goes up the trader may lose as he has to cover the shares at higher level.
In India the most traders use this option for intraday trading.
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short selling