Dear, Government departments looks to be more comfertable with Satyam, as they are more cost coservative. UID being a very big project and Satyam being the front runner may get major share in it. GOOD.......

A report in BS dt March 20, 2010 (given below) has given details of the changes in indices to be effected shortly : Cipla will replace Sun Pharmaceuticals in Sensex from May 3, 2010. The sole pharmaceutical company featuring in the benchmark index will see the weightage of the sector decline marginally to 0.66% from 1% earlier in the Sensex. The index committee of the BSE in its meeting held on March 19 has decided to revise the composition of its indices. Sun Pharmaceuticals with Rs 35,131 crore market capitalisation is on top of the market cap ranking in pharmaceutical companies ahead of Cipla, which current market cap stands at Rs 26,781 crore. Sun Pharmaceutical was entered in the Sensex in place of Mahindra Satyam (formerly Satyam Computer Services) on January 12, 2010. The committee has also revised the composites of three broader indices – BSE-100, BSE-200 and BSE-500 index w.e.f March 29. Lupin, NHPC, Shriram Transport Finance Company and UltraTech Cement included in BSE-100 index in place of Asian Paints, Glaxosmithkline Pharmaceuticals, Bajaj Finserv and Mahanagar Telephone Nigam. The BSE-200 index replaces 16 companies and BSE-500 index has reshuffled 32 companies, the BSE said in its statement." MY COMMENTS : We also need to see what changes, if any,will come in NIFTY. We have to see how the trading pattern on BSE will undergo any change consequent on the above changes. Valuations also may undergo some changes consequently....

SM 1 Read in between lines oh Khurshid statement that stratagic investor to b found for MYTAS PROPERTIES.I think Satyam funds were diverted to MY PRO and not to mytinfra.Anyway results and clear ac will b ready be4 june deadline....

The current price movement in MS doesn`t indicate favorable financial results , anyways as we have already invested will remain invested for 1 year or so ....

SM 1 Asking for only 200-250 crs refund points (1)Accounts r ready.(2)Satyam infact earned profits in 2004-2008 but syphoned d money.(3)There was not that overbilling or overstating d profits as claimed by Raju.(4)If Raju statement that revenue and profits were that much then refund would hv been atleast 1000 crs and not 200-250 crs....

hi SM1, I totally agree with ou that unless the re-stated accounts are ready, MS can not approach MCA or FM for refund of Tax. My concern is the insiders would know the financial status by now but the stock remains unmoved except a move by a departmental head in the company buying 3000 shares in MS recently. I am of the view that in the long run MS looks a safe investment and I do not foresee any dangers of steep fall from the current level. I am also of the view company may declare the results anytime soon now!! Could you please share your view on these counts? Regards Naidu ...

Dear, Vol at Satyam is also getting trimmed these days....

Look at the latest news, Mahindra Satyam short listed to UID project. I think getting short listed in this project itself gives the idea about company`s current affairs.

Mahindra Satyam is also involved in other domestic projects..


see moneycontrol for full story.


...

Mah Satyam demands Rs 300 cr tax refund: Sources
Published on Fri, Mar 19, 2010 at 13:05 | Updated at Fri, Mar 19, 2010 at 13:08 | Source : CNBC-TV18


If Ramalingam Raju inflated his profits, he also paid more as taxes on those higher profits. Or so it now seems.

Sources tell CNBC-TV18 that Mahindra Satyam has now demanded a tax refund of Rs 300 crore which they claim was paid on the inflated balance sheet.

The Ministry of Corporate Affairs is learnt to be in discussions with the Finance Ministry over this matter. The Finance Ministry has however asked for the audited accounts before deciding on the tax refunds. The re-statement of accounts is likely to be completed by April end.


Mahindra Satyam was unavailable for comment.

In late 2008, Raju had shocked India Inc when he confessed to a scam to the tune of over Rs 5,000 crore. "No board member had any knowledge of the real situation. Accrued interest of Rs 376 crore in books is non-existent. Rs 1,230 crore was arranged to Satyam, but was not reflected in the books," he had said in his confession.
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Financial statement date is in line with our expectation....

Read it carefully, if MS is asking for tax refund , means financial restatement is ready..

Khurshid asks Finance Ministry not to tax Satyam`s inflated income


17 Mar 2010, 1715 hrs IST, PTI


Topics:Pranab Mukherjee Salman Khurshid Ramalinga Raju Finance Ministry Satyam Computer Services
NEW DELHI: Corporate Affairs Minister Salman Khurshid has asked the Finance Ministry not to tax Satyam Computer Services (now Mahindra Satyam) on Top gainers & losers
the basis of income provided by its founder B Ramalinga Raju. ( Watch )

"We have written to Finance Minister Pranab Mukherjee... knowing that the income disclosed (by Satyam founder Ramalinga Raju) were not reliable, not honest, how can the department rely on it and say we don`t care whether it is real income or stated income, we will tax it," Khurshid said here.

Mahindra Satyam has reportedly requested Khurshid to take up the issue of taxation with the Finance Ministry as it would be unjust to tax income that was never there.

"I think, it is a conundrum that needs to be corrected and I hope that the finance minister will have the time to look at it and consider it," the Minister said.

In January last year, Raju had admitted to fudging the company`s accounts to the tune of Rs 10,000 crore and inflating profits.

The company had also paid tax on fake income on bank deposits that didn`t exist.

In October last year, the Company Law Board had extended the timeline for Mahindra Satyam to finalise its accounts to June 30, 2010.

After the scam was unearthed, the government had taken over the reins of the company and later sold it to Tech Mahindra. ...

My Point was that it will never happen, the kind of Management Mahindra Satyam has, it will never fall to someone dreams level.

The only move is expepected which is up....

Yes, if Mahindra`s also cook the book and make another 14000 cr scam....

Tech Mahindra is expected to go down .. Lets see how it benifit Mahindra Satyam..

If we see Tech Mahindra going down and Mahindra Satyam going up.. then message to all should be clear.....

TechM slips as top execs offload shares

The sale of 3.5 lakh Tech Mahindra shares by its managing director Vineet Nayyar on March 2 made it to the headlines after it was disclosed that the shares were donated to a charitable institution. But, the sale of 4.8 lakh shares over the next few days by another top Tech Mahindra official, CEO Sanjay Kalra, went unnoticed. These moves, which have not triggered any major panic in the stock yet, have happened as its subsidiary Satyam Computer prepares to publish its balance sheet for the first time since the accounting fraud broke out. Tech Mahindra holds 42.68% in Satyam through a SPV. Some operators are creating short positions in Tech Mahindra and Satyam Computers, as they expect some disappointments when Satyam publishes the balance sheet.

news of 12th March- ET...

Going to 25 will never happen, Its already running at its lowest price range, i.e 30-36. The only expected move is to go up.

If one is interested then buy else dont.. There is no need to fight for nothing.....

M&M top brass goes into huddle to devise strategy
By Sharang Limaye, Yassir A Pitalwala Feb 22 2010 , Hyderabad/Mumbai

The Mahindra Blue Chip conference, a high profile two-day meet of top executives from various arms of Mahindra & Mahindra (M&M), got under way at Mahindra Satyam’s Infocity campus on Monday. The conference is an annual event, which sees top honchos analyse the group’s performance over the past 12 months and chalk out strategies for the next year.

“I will be outlining the agenda for the group in the present year at the event,” Anand Mahindra, vice-chairman and managing director M&M, had told Financial Chronicle over the weekend. “This time, unlike most years, the conference is being held after the annual budgets of various business divisions such as infrastructure, automotive, farm equipment, information technology, two-wheelers and financial services have already been finalised. Normally, we have the budgets finalised after the conference, which sets the tone for our business plan,” said a top M&M official, who requested anonymity.

The conference was originally scheduled to be held on December 17, but was put off when political trouble over the Telangana issue threatened to disrupt the event. Also, there was a death in the Mahindra family, laeading to postponement.

More than 400 executives from the level of general manager and above from the United States, Australia, Europe and India are in Hyderabad for the event. The agenda would include budget presentations for next year’s growth strategies and plans that would be implemented, a person close to the development told Financial Chronicle. A top Mahindra group official said, “Today several sector-level presentations took place until late evening. Tomorrow, Anand will share his outline for the year.”

The motto for last year’s conference was `reboot, reinvent and reignite` keeping in mind the debilitating economic conditions prevalent at that time. Suitable changes would be made for this year’s theme as the global markets have witnessed a minor turnaround since the dark days of late 2008.

“The conference being held in Hyderabad, even after it was cancelled once, shows how important Mahindra Satyam is to the Mahindra group from a future perspective. It also shows the group’s commitment to integrating the company into the overall scheme of things,” the person said.

However, Mahindra Sat­yam employees will not be playing a major role during the event other than providing logistical support.

When contacted by FC, Roma Balwani, vice-president and head of corporate communications at M&M, refused to share the details of the conference, stating that the event was “an internal conference and hence, details could not be shared.”

The $6.3 billion Mahindra group expects an addition of about $1 billion to the group’s top line after the restatement of Satyam’s results is complete. The latter has time till June 2010 to submit its restated results.

Last year, M&M’s IT arm Tech Mahindra had acquired a 31 per cent stake in Satyam for Rs 1,756 crore. After the acquisition, there had been a reshuffle in the top ranks of IT company, with old M&M stalwarts CP Gurnani and Vineet Nayyar taking over as CEO and chairman, respectively....

I agree with you, we should focus on good things and ignore all bad ones..

As far as NHPC is concern, I have also invested in it with long term view. My plan is to gradually increase my holding and than keep it for next 2 years. After 2 year one thing is sure that hut will remain intact and if its converted into dream house than well and good....

Mahindra Satyam in race for GM $10bn contract. It might get biggest pie in it. If this happens then it will be a game changer..

----
IT firms brace for $10bn GM contracts

Mumbai: General Motors` proposed IT restructuring is likely to throw up a $10 billion opportunity for Indian IT firms, some of which are already amongst the suppliers to the US auto major.


In 2006, General Motors (GM) had put its $15 billion IT projects for bids.

"As the firm has been in the middle of a restructuring process after the management has been taken over by the government, the size of the IT contract would be lesser this time round. But it would still be over $10 billion," said an executive of a firm that provides IT services to GM, requesting not to be named.

Among the high-priority projects at GM is a companywide rollout of Windows 7 operating system that is about to start in March 2010 for some 100,000 PCs.

The firm is also aiming to roll out a virtual PC on a USB for each employee through which employees would be able to work from home while remaining in the company`s private network.

"We are among some of the existing IT suppliers to GM. We are upbeat on the new IT projects under discussion at GM. It may be on design, applications, migration from earlier operating system to new ones etc," said Atul Kunwar, head of operations for Mahindra Satyam in Europe, Asia Pacific, the West Asia, Africa and India.

At GM, 70% of applications run on the Windows environment and, according to people familiar with GM`s IT projects, "a big project to move its SAP application to Windows environment will soon be taken up".

Meanwhile, Infosys Technologies, which recently announced its focus on high-end auto engineering work such as design, is also learnt to be in discussions with GM. "We are extremely happy with the kind of discussions that GM is engaging us in. You know the talks are of the level of `can you drive efficiency to our customers`, rather than `how many more people would you engage to finish the project` types. We are focusing on new deliverables such as spend reduction, value generation etc, which are largely outcome based. They actually appreciate our questioning of many `holy cows` in GM IT," said an Infosys executive who did not wish to be named.

The executive added that various deals are at various stages of closing.

GM, which has outsourced 90% of its IT work to firms such as HP/EDS, IBM, Capgemini, Wipro Technologies and Mahindra Satyam amongst others, is embarking on vendor consolidation exercises as well.
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