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Satyam hit 10% circuit when company announce it’s earning today.The stock is locked at Rs66.85.The company posted a standalone profit of Rs181 crore
on revenue of Rs2290 crore in December quarter.According to the statements to the Bombay Stock Exchange company has a bank balance of Rs 373 crore on March 31.The company claims a profit of Rs 4 crore on the revenue of Rs 681 crore in January and net profit of Rs 52 crore on the revenue of Rs 676 crore in February.
In early January company was in troubled water when it’s former owner Ramalinga Raju accepted the company and of course Countries one of the biggest fraud.After this drama Tech Mahindra won auction of Satyam at Rs 2890 crore.Larsen & Tubro which also has stack in Satyam gained 6.25 per cent.Obviously company is doing well now.
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