 Hold Satyam, target of Rs 212: Emkay GlobalPublished on Tue, Dec 30, 2008 at 09:55 | Source : Moneycontrol.com Updated at Tue, Dec 30, 2008 at 09:58 137127 Investors following Mahindra Satyam. Share this News with them.
Emkay Global Financial Services has recommended a hold rating on Satyam Computer Services with a target price of Rs 212 in its December 29, 2008 research report. "Satyam has postponed the board meeting scheduled for 29 Dec'08 to consider a share buyback to 10th Jan'09 citing lack of decorum. We highlight that Satyam's promoter's stake at 8.6% was already low and with media reports talking of a further reduction in promoters' stake, it might be easier for a takeover to go ahead. We believe that the appointment of a financial consultant rather than a consulting organization as an advisor to recommend possible actions could also increase the chances of a financial/strategic investor stepping in. (though believe it might take some time for this to happen) We believe that this should help Satyam's stock to stall the fall as well as provide a floor to it (at Friday's close of Rs 135, Satyam traded at a FY09 EV/EBITDA of 1.5x). Hold, target price of Rs 212," says Emkay Global Financial Services' research report. Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. To read the full report click on the attachment...... Attachments : Satyam Co_Update_291208.pdf
PREVIOUS STORY More on Moneycontrol
Headlines
 06:15 PM
 07:47 PM
 08:36 PM
Video of the day
Slideshows
Trending NewsBusiness News
|
News DLF Says Macro Environment Unfavourable W/High Comm & Labour Inflation  The latest earning numbers FIRST on CNBC-TV18
Videos
Interviews
 Feb 10 2012, 15:43 | Source: CNBC-TV18  Feb 10 2012, 15:35 | Source: CNBC-TV18  Subscribe to Moneycontrol Newsletters |
|||||||
