Mahindra Satyam shares surge after earnings, Tech Mahindra up

Aug 03, 2012 |

Reuters

mumbai

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Mahindra Satyam jumps 8.7 per cent after hitting as high as Rs 91.85, its highest since July 21, 2011.

Gains come after the software services exporter beat analyst estimates with a 56.4 per cent rise in quarterly profit after it won new business and got a boost from currency effects.

"The company continued to deliver operational exuberance with healthy volume growth," said Ankita Somani, an analyst at Angel Broking in a note.

Mahindra Satyam, is in the process of merging with parent Tech Mahindra Ltd.

Tech Mahindra gains 6.6 per cent.

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