Mahindra Satyam inches up on plan to acquire firm in South Africa

         Mahindra Satyam is currently trading at Rs. 111.25, up by 0.10 points or 0.09% from its previous closing of Rs. 111.15 on the BSE.

         The scrip opened at Rs. 110.55 and has touched a high and low of Rs. 112.15 and Rs. 110.55 respectively. So far 101645 shares were traded on the counter.

         The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 131.20 on 28-Mar-2013 and a 52 week low of Rs. 66.25 on 17-May-2012.

         Last one week high and low of the scrip stood at Rs. 118.40 and Rs. 110.90 respectively. The current market cap of the company is Rs. 13138.95 crore.

         The promoters holding in the company stood at 42.63% while Institutions and Non-Institutions held 39.45% and 17.92% respectively.

         Mahindra Satyam is planning to acquire a company in South Africa. The IT company is increasing its presence in Africa, Latin America and Asia through acquisitions and partnerships. It has taken this decision, as Africa, Asia and Latin America are emerging as dependable markets for Indian IT companies.

        The entity had acquired a majority stake in Brazilian company Complex IT, a strong SAP consulting player in the region, in February this year. Other than tapping the domestic market in Brazil, it aims to position it as a global delivery centre for its customers in Latin America.

        Mahindra Satyam is a global business consulting and information technology services company leveraging deep industry and functional expertise, leading technology practices and a global delivery model to help businesses transform their processes and improve performance. [via]

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