Mahindra Satyam surges 8% on beating Q4 profit estimatesPosted on Saturday, May 19, 2012 - 15:27 pm
Mahindra Satyam , a part of Mahindra group, rose as much as 7.8% intraday to hit a high of Rs 72 on Friday as the company reported a better than expected growth of 73.38% quarter-on-quarter in its consolidated net profit of Rs 534 crore for the fourth quarter of FY12 due to one time gain of Rs 109 crore during the quarter. Analysts on average had expected net profit at Rs 220 crore.
At 14:40 hours IST, the share was trading at Rs 69.85, up 4.57%. Market capitalisation of the company stands at Rs 8,219.93 crore.
Trading volumes too increased 237% to 15,73,895 equity shares as compared to its 5-day average of 4,67,352 shares.
In the previous trading session, the share closed down 3.61% or Rs 2.50 at Rs 66.80.