Stay away from Satyam: Raheja

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Stay away from Satyam: Raheja

Nitin Raheja, CIO of Rada Advisors is of the view that one can stay away from Satyam.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by Nitin Raheja See what other Experts & Brokerages are saying about Mahindra Satyam See messages about Mahindra Satyam Mahindra Satyam BSE | NSE 28/05/12 Are Mutual Funds betting on Mahindra Satyam?

Nitin Raheja , CIO of Rada Advisors is of the view that one can stay away from Satyam .

Raheja told CNBC-TV18, "It is all open-ended at this point. We really do not know anything more than what we really knew a few days ago in terms of what exactly is the profitability of the company, how the cash went out of the balance sheet, what is going to happen with customers. So, it is completely in a state of flux at this point. For Satyam, even some of the optimists who came in and took the price to Rs 30-34 have now started giving out. I would typically stay away from this counter." 

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.