Satyam Computers, software services major on Wednesday lost as much as Rs 10,000 crore in market capitalization in a single trading session and the scrip declined to hit an all-time low level. The company had a market capitalization of Rs 12,067.98 crore on Tuesday while by the end of the trading session on Wednesday its market Cap stood at Rs 2,691.88 crore. The scrip fell by as much as 83 per cent to witness an intra day low of Rs 30.70 and finally managed to close with a fall of 77.69 per cent at Rs 39.95 on the BSE.
Satyam Computers fell drastically after the management revealed some malpractices in accounting methods.
On the other hand, on the National Stock Exchange, the scrip also dipped to a low of Rs 41.05, down 77.06 per cent from its previous close. The scrip had witnessed the intraday low of Rs 30.80, down 82.78 per cent over last closing.
Satyam stock holds a 1.56 per cent weight in Sensex. Following the same, the benchmark index also declined over 749 points or over seven per cent on the BSE. Ramalinga Raju, on Jan 7 resigned as Satyam''s chairman after admitting to financial wrong doings in the company''s balance sheet.
Satyam Computers fell drastically after the management revealed some malpractices in accounting methods.
On the other hand, on the National Stock Exchange, the scrip also dipped to a low of Rs 41.05, down 77.06 per cent from its previous close. The scrip had witnessed the intraday low of Rs 30.80, down 82.78 per cent over last closing.
Satyam stock holds a 1.56 per cent weight in Sensex. Following the same, the benchmark index also declined over 749 points or over seven per cent on the BSE. Ramalinga Raju, on Jan 7 resigned as Satyam''s chairman after admitting to financial wrong doings in the company''s balance sheet.
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