BSE de-lists Satyam, Sun Pharma replaces scrip on Sensex

January 8th, 2009 MUMBAI - Indian equities markets continued their downward slide Friday morning, with a key index falling 0.34 percent over its previous close. The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was down 0.34 percent or 32.37 points Friday and was trading at 9,544.51 points about 15 minutes into trade.

January 6th, 2009 MUMBAI - Indian equities markets tumbled Wednesday after Satyam Computers chairman B. Ramalinga Raju admitted to having juggled with the firm's balance sheet to the tune of Rs.40 billion ($823 million).

January 6th, 2009 MUMBAI - The Indian equities markets dropped sharply after Satyam chairman and co-founder B. Ramalinga Raju revealed that the company was involved in a fraud of about Rs.40 billion ($823 million) over several years.

January 7th, 2009 MUMBAI - Scam-tainted Satyam Computer has been de-listed by the Bombay Stock Exchange (BSE) with effect from Jan 12, the BSE said in a statement Thursday. It has been replaced by Sun Pharmaceutical Industries on the BSE's benchmark index, the Sensex, while GlaxoSmithkline Pharmaceutical nudged it out on the BSE-100 index.

January 6th, 2009 MUMBAI - Indian equities markets plunged in afternoon trade Wednesday after IT major Satyam Computer's co-founder and chairman B. Ramalinga Raju resigned after confessing to a Rs.40-billion ($823 million) fraud that had been going on for years.

January 4th, 2009 MUMBAI - The pounding of Satyam Computers scrip continued Monday with the stock losing 6 percent in the day's trade amid concerns that the recent Maytas deal fiasco could hit the company's new business prospects. At closing bell, the scrip price had crashed Rs.10.65 or 6 percent to end the day's trade at Rs.166.90 with over 11 million shares changing hands.

January 9th, 2009 MUMBAI - Indian equities markets, which had rallied last week and the first two days of trading this week, took a beating since Wednesday after the Satyam fraud blew up, dampening investor confidence and pushing a key index to close Friday 5.54 percent lower over last week's close. The fall from grace of B.

January 27th, 2009 HYDERABAD - Leading pharmaceutical company Dr. Reddy's Laboratories has denied that the land it got on the outskirts of Hyderabad after acquiring Satyam Institute of E-business Ltd was assigned land or the state land meant for poor.

January 8th, 2009 HYDERABAD - India's market regulator Friday summoned B. Ramalinga Raju, disgraced founder of Satyam Computer, to appear before it Saturday as it began a probe into his Rs.70-billion (Rs.7,000-crore) accounting fraud, even as the Andhra Pradesh police began an enquiry.

January 8th, 2009 MUMBAI - Indian equities markets closed in the red as investors resorted to heavy selling amid negative sentiments following the Satyam scandal, with a key index closing 1.88 percent lower than its previous close Wednesday. The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) shut shop 1.88 percent or 180.41 points down at 9,406.47 points after opening lower than Wednesday's close of 9,586.88 points.

January 26th, 2009 NEW DELHI - Engineering and infrastructure major Larsen and Toubro (L&T) Tuesday said it might further raise its stake in the scam-tainted Satyam Computers. 'Overall, we are only trying to improve our situation,' company chairman A.M.

January 15th, 2009 MUMBAI - Indian equities were ruling firm after opening in the green Friday following positive cues from global markets, though IT bellwether Tata Consultancy Services took a hit following lower-than-expected third quarter results. After opening at 9,125.65 points, against the previous day's close at 9,046.74 points, the sensitive index (Sensex) of the Bombay Stock Exchange (BSE) rose to 9,242.51 points soon after.

January 6th, 2009 HYDERABAD - In a development that shook India's corporate and financial worlds Wednesday, co-founder and chairman of Satyam Computers B. Ramalinga Raju resigned after confessing to a Rs.40 billion (Rs.4,000 crore or $823 million) fraud that had been going on for years.

January 8th, 2009 HYDERABAD/NEW DELHI - Disgraced founder of Satyam Computer Services B. Ramalinga Raju Friday night surrendered before the Andhra Pradesh police and was arrested, three days after admitting to the country's biggest financial fraud of Rs.70 billion (Rs.7,000 crore).

January 8th, 2009 NEW DELHI/HYDERABAD - The central government Friday sacked Satyam Computers' directors and announced it will appoint 10 new directors within seven days to run the company tottering on the brink of collapse after its founder B. Ramalinga Raju rocked corporate India by confessing to the country's biggest financial fraud of Rs.70 billion (RS.7,000 crore).