Mahindra Satyam may correct to Rs 80: SP Tulsian

Tulsian told CNBC-TV18, “I am not too positive on the Mahindra Satyam results because even if the financial performance comes in and with the announcements of the merger having already in place with Tech Mahindra I don’t think that there is any upside individually attached with Mahindra Satyam because with the swap ratio of two shares for every 17 shares to be issued ultimately the price discovery of Mahindra Satyam will happen based on the price of Tech Mahindra.”

He further added, “From hereon I am keeping- already we have seen a good run up in the share price of Tech Mahindra, even Mahindra Satyam has moved keeping a cap of about Rs 85-86 and maybe the post numbers also I don’t see it really moving beyond that and if any profit booking comes in that can make the share to correct to about maybe Rs 80 or so.”