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MARKET EYE-Kotak downgrades India's Satyam after Q3 earnings
February 1, 2013 / 5:43 AM / 5 years ago

MARKET EYE-Kotak downgrades India's Satyam after Q3 earnings

* Kotak Institutional Equities downgraded Satyam Computer
Services Ltd 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 0533 GMT.

 (manoj.dharra@thomsonreuters.com;
manoj.dharra.thomsonreuters.com@reuters.net)

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