Satyam at 80...........

Satyam hits upper circuit for second day
Our Bureau MUMBAI
THE prospect of fresh money flowing into Satyam Computer has further livened up interest in the stock. Already boosted by the company’s better-thanexpected revenues and profits, which were revealed for the first time on Tuesday since its accounting scam, the Satyam stock has hit the 10% upper circuit for the second straight session to close at Rs 73.50 on Wednesday. Investors are also enthused by the likelihood of the upcoming open offer not being successful, with the current stock price way ahead of the open offer price of Rs 58. A failed open offer will lead to Tech Mahindra exercising the option to subscribe to fresh shares of Satyam to raise its stake in the company to 43%, analysts said. While a successful open offer will result in money flowing to Satyam shareholders, issuing of fresh shares would result in the funds, set aside for the open offer, to flow directly into the company. “Tech Mahindra has infused Rs 1,760 crore for a 31% stake and would further infuse Rs 1,140 crore in case the open offer at Rs 58 (much below Satyam’s CMP) does not invoke a response,” said Vihang Naik, an analyst with Motilal Oswal Securities, in a report. Analysts believe that the likely cash infusion, coupled with reduction of staff costs, would put the company back on track. “Backed by the strong focus on cost re-alignment (in line with revenues), direct interest from senior management in the Mahindra group and experience in running Tech Mahindra, we expect Satyam to see a sharp turnaround in revenues and profits by end-2009/beginning 2010,” JP Morgan India’s report said.

MY Comments:
We were discussing on Satyam since it was below 18.I wrote here that Satyam is looking good to me.One day Shankar Sharma came out and said Satyam will become ZERO and I didn't accept his arguements and I gave reason for that as well that why Satyam can't become ZERO.
I wrote to buy Satyam at that time and now it is 80 means from 18 to 80...."teen" becomes "ty"....
I also wrote that Satyam can touch 150......that is where it is heading for......