Share markets continue to fall, Satyam scrip loses almost all value

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 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. The scrip closed at Rs.39.95 Wednesday after a 77.69 percent freefall after the company's founder-chairman B.

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 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 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.

March 6th, 2009 MUMBAI - Hyderabad-based Satyam Computer Services has secured the nod from the India's markets regulator to sell 51-percent majority stake by way of a global auction to put the software bellwether, hit by a $1.43-bilion fraud, back on rails. The Securities and Exchange Board of India (SEB) gave its permission to Satyam to facilitate a global competitive bidding process so as to sell the majority stake to an investor, the company said in a regulatory filing Friday.

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 20th, 2009 MUMBAI - India's markets watchdog Wednesday decided to tighten the disclosure norms for company promoters who pledge their shares with lenders, finding lapses during investigations into the Rs.70-billion scam in Satyam Computer Services. 'The founders must disclose shares with lenders,' C.B.

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 6th, 2009 HYDERABAD - The New York Stock Exchange Wednesday halted trading in the stock of beleaguered Satyam Computer Services prior to the opening of the market at 9.30 a.m. US eastern time, the NYSE said in a statement.

March 9th, 2009 HYDERABAD - Fraud-hit Satyam Computer Services Monday said it had started the process to sell 51-percent majority stake in the company by way of a global auction after India's market regulator gave it the go-ahead last week to do so. 'Commencing today (Monday), all interested bidders should register their interest in participating in the bidding process,' the company said in a regulatory filing.

September 30th, 2009 MUMBAI - Anil Ambani-led Reliance Communications Wednesday said it has entered into a strategic alliance with Microsoft to offer Windows Mobile solution on its wireless networks. As per the agreement, Microsoft will offer solutions like push email support, chat, photo-sharing, content back-up and other applications to Reliance customers.

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.

April 20th, 2009 HYDERABAD - Tech Mahindra, the new owner of scam-hit Satyam Computer Services, will announce an 'open offer' Tuesday to obtain an additional 20 percent stake in the software major, Satyam chairman Kiran Karnik said here Monday. Tech Mahindra, which deposited Rs.2,910 crore (Rs.29.1 billion) in an escrow account Monday for a 31 percent stake in Satyam, will see its total holding increase to 51 percent after the open offer.