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Kotak downgrades Satyam Computer after Q3 earnings

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Kotak Institutional Equities downgraded Satyam Computer Services Ltd to "reduce" from "add", noting the October-December revenue growth which was "muted", given the impact from furloughs in the high-tech and manufacturing segments.

Kotak added Satyam shares, also called Mahindra Satyam ahead of a pending merger with Tech Mahindra, are trading at fair value after gaining over the past few quarters.

On Thursday, Satyam Computer reported a 20.6 per cent rise in the third-quarter profit before a one-off loss. Shares fell 1.88 per cent on the BSE, compared to 0.57 per cent decline in the broader 30-share Sensex.

Copyright @ Thomson Reuters 2013

Story first published on: February 01, 2013 15:36 (IST)

Tags: Kotak Institutional Equities, Satyam Computer Service Limited, Tech Mahindra, Satyam Shares

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