Tech Mahindra wins the BID for Satyam Computers and the bid was for 58 rs , So they will paying 1757 crores for 31 percent holding from Satyam and they would be paying 2890 crore to acquire 51 percent stake in satyam .It heard that Larsen toubro bidded for only 49 rs.
Satyam fell down to Rs 48.85. A decent buy for Satyam is any level below Rs 40 with a medium term target of 60 or may be 65.
Satyam is a stock who's movement you cant predict. This stock is moving according to the news and rumors coming. Whats intresting this week. - $10 or Rs 500 laptop to be displayed on 3rd Feb. Subscribe for free Email Updates - Click here. Free SMS Updates subscribe - Click here
First LNT hikes its stake in Satyam and now I Gate solutions and even Hinduja Group are eying Satyam.
When the stock price was 20 - 24 people thought it would go further down but it moved up from there as it got new board of directors, its management changed.
Now if the stock falls below Rs 40 it can be a value buy as Satyam is suppose to get order worth 400 million $ according to ET.
More over its management may be restructured again in 3 months.
Where trading is concerned Satyam is having good movements along with high volumes but one needs to be cautious in doing so.
Short or Long ?
Comment.
US markets ended marginally positive. Subscribe for free Email Updates - Click here. Free SMS Updates subscribe - Click here
Europe ended a negative note.
Asia is bonded to open flat to negative.
Expect Indian Markets to follow the same trend.
Markets now looking highly oversold.
The target for the Sensex is 9200 and the resistance to the up move is at 9528-9708
Nifty: (2846) the target for the Nifty is at 2740 and the resistance to the up move is at 2870-2922
Satyam saga is yet not over.
Day Trading ideas -
Jet Airways
Buy above 192 for targets of 195 and 198
Sell below 182 for targets of 178 and 175
HDIL
Buy above 113 for targets of 117 and 120
Sell below 107 for targets of 103 and 100
Adlabs
Buy above 185 for targets of 188 and 192
Sell below 172 for targets of 169 and 165
Buy for short term
Rajesh Exports at 21 for targets of 25 with a SL of 19.40
Karuturi Global at 13.85 for targets of 18 with a SL of 11.50
Visit my new blog Squamble.
Happy Investing
Satyam saga is still going on. Inflation is cooling and IIP numbers come good.
We saw volatility last week.
The comming week I dont expect much of upside.
I am bullish on FMCG and Cement stocks and to some extent energy stocks such as NTPC and BHEL.
Stock to watch out this week.
NTPC
LNT
Punj Llyod
BHEL
Unitech
Suzlon
Written By -
Vinod Jethmalani.
Every eight years there is a scam in Indian Stock Markets it is true and is proved. In the year 1992 Harshad Mehta , in the year 2000 Ketan Parekh Scam and now we have Raju’s scam (Satyam).
Scam of 1992 - Harshad Mehta was an Indian stockbroker and is alleged to have e
ngineered the rise in the BSE stock exchange in the year 1992. Exploiting several loopholes in the banking system, Harshad and his associates siphoned off funds from inter-bank transactions and bought shares heavily at a premium across many segments, triggering a rise in the Sensex. When the scheme was exposed, the banks started demanding the money back, causing the collapse. He was later charged with 72 criminal offenses and more than 600 civil action suits were filed against him. He died in 2002 with many litigations still pending against him.
Scam of 2000 - Ketan Parekh was a Mumbai-based stock broker. He hails from a well-to-do Gujarati family involved in share trading, and Ketan was involved in the shares scam of 2000-2001 on the Indian Stock Market.Companies, when raising money from the stock market, rope in brokers to back them in raising the share pric
e. Ketan formed a network of brokers from smaller exchanges like the Allahabad Stock Exchange and the Calcutta Stock Exchange, and used benami, or share purchases, in the name of poor people living in the shanty towns of Mumbai. Ketan rose to fame at the same time as the worldwide dot-com boom (1999-2000) and he relied primarily on the shares of ten companies for his dealings (now known infamously as the K-10 scrips).
Ketan Parekh was arrested on December 2, 2002 in Kolkata.
Scam of 08 – 09 - Satyam's Scam (Its too fresh to forget) – Raju Ramalinga affirmed in a letter to the board that neither he nor the managing director had benefited financially from the inflated revenues. He claimed that none of the board members had any knowledge of the situation in which the company was placed. He noted t
hat Satyam's balance sheet as of the September 30, 2008, carried inflated figures for cash and bank balances of INR 5,040 crore (as against INR 5,361 crore reflected in the books). It carried an accrued interest of INR 376
crore which was non-existent. An understated liability of INR 1,230 crore on account of funds was arranged by himself. An overstated debtors' position of INR 490 crore (as against INR 2,651 crore in the books).
Should we be prepared for the next scam after eight years?
I just hope we don’t have any more scams.
SEBI will now be more cautious.
Satyam’s fraud was the reason the market tank yesterday. Satyams ADR opened down 91%.
US markets ended lower on an average of 3%. Europe also ended lower.
Asia has opened negative.
India is bond to open negative. The trend in NIFTY is broken and one can see markets giving up gains.
I see a minor correction in NIFTY.
Now a support for Sensex is 8900 and resistance for up move at 10150.
And support for NIFTY is at 2740 and resistance for up move at 3125.
Day trading ideas.
IFCI
Buy above 22.10 for targets of 22.90 and 23.50
Sell below 20.50 for targets of 19.80 and 19.10
Infosys tech.
Buy above 1197 for targets of 1209 and 1218
Sell below 1171 for targets of 1165 and 1160
Unitech
Buy above 37.50 for targets of 38.20 and 39.25
Sell below 34.10 for targets of 33.50 and 32.60
DLF
Buy above 242 for targets of 246 and 251
Sell below 231 for targets of 228 and 225
Happy Investing!
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Satyam - If we divide the word it comes as Satya which means Truth. But what is true in Satyam. Every thing is a lie. Raju is now a big fraud one can say.
Satyam Computers Chairman Ramalinga Raju resigned from Satyam Board and indicated huge scam in Satyam Books. Ramalinga Raju may be arrested along with some other rogues.
The scrip has made a low of 50 Rs. And is down over 71%.
Satyam is dragging down the markets. Sensex down over 600 points.
What is your take for this fraud by Raju ?
Voice your option by commenting here. Comment.
Satyam is a big fraud now every one knows. In fact I should say Raju is a big fraud.
Satyam Computer Services Ltd. Chairman Ramalinga Raju resigned after announcing the company had falsified accounts and assets, sending shares of the Indian software-services provider tumbling in Mumbai.
Satyam had 50.4 billion rupees ($1.04 billion) of “inflated” cash on its balance sheet at the end of Sept. 30, the Hyderabad-based company said in a release today. Raju, 53, unsuccessfully tried to sell two companies last month to Satyam in the “last attempt to fill the fictitious assets with real ones,” Hyderabad-based Satyam said in a statement sent to the Bombay Stock Exchange, citing the chairman.
Satyam shares tumbled a record 37 percent as of 11:34 a.m. in Mumbai trading. Raju, the founder and chairman, on Dec. 16 announced a $1.6 billion takeover of the two companies owned by his family, only to drop the deal hours later after stockholders protested. Separately, the World Bank Dec. 23 declared India’s fourth-biggest software-services provider ineligible for contracts for eight years, alleging ‘improper” benefits were given to the bank’s employees.
Raju scrapped the planned acquisition of Maytas Properties Ltd. and Maytas Infra Ltd., less than 12 hours after announcing it. Investors dumped the stock, causing a 31 percent slide, amid questions over Satyam’s decision to spend cash to buy unrelated businesses during the economic slump.- Bloomberg.
