Reuters Market Eye - Kotak Institutional Equities downgraded Satyam Computer Services Ltd(SATY.NS) to "reduce" from "add", noting October-December revenue growth was "muted", given the impact from furloughs in the high-tech and manufacturing segments.
Kotak adds 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 percent rise in third-quarter profit before a one-off loss.
Shares fall 1.8 percent as of 11.03 a.m.
(Reporting by Manoj Dharra)
Trending On Reuters
Top India News
Prime Minister Narendra Modi has asked for a drastic cutback of an ambitious health care plan after cost estimates came in at $18.5 billion over five years, several government sources said, delaying a promise made in his election manifesto. Full Article
Iran, powers close in on 2-3 page nuclear deal; success uncertain - officials Full Article