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POSTED BY ON September 25, 2010 10:49 am COMMENTS (4)
It is a very interesting situation with satyam stocks. It was hovering around 90s when our stock market surged to great levels. Now with the announcement of restatement dates, it peaked to 15% but coming down to previous levels due to recent announcement of delisting in NYSE.
Now few questions
Was the 15% surge a trap ?
Why was it delisted from stock market? Non compalince of proving 5 years quarterly data before the deadline?? Or too much scrutiny of restated accounts by NYSE?
Are the stock price being lowered due to merger with tech mahindra?
Above all, should i invest them in current levels?
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@sainath
today came across analysis of company’s recent results – http://www.moneylife.in/article/72/9567.html
have a look at it…..
Thanks for the reply guys! Much appreciated
sainath
A lot of time there is sudden surge out of insanity , due to some news or an event , later people realise that they have done wrong , and then prices are back to normak , this sayyam thing sounds like that only 🙂
Manish
I don’t think the 15% surge was trap, other IT stocks like Infy, TCS, Wipro, PCS also rallied in this bull run.
It was delisted due to non compliance of providing quarterly data and moreover those data were manipulated.
Stock price is not lowered due to merger with Tech Mahindra. Satyam have good clients and infact bidding for new project. Long term it has very good prospects, we can see 200 levels over 3-4 years of time.
It is risky to buy it at current levels, let it come to 80 levels and you can SIP into it.
Correction is on the cards, however it can reach 120 levels too before correcting.
Timing is crucial in stock markets.
Rakesh