Traders may disappoint if open offer rules change in Satyam

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Here is a verbatim transcript of Udayan Mukherjee's comments on CNBC-TV18. Also watch the accompanying video.

Increasingly it appears that they will have a fairly short duration open offer average for Satyam which appears to be the case and logically that should be the case too.

There are two ways to look at it. If you are looking at it in the long-term investor's eyes then you say now a deal will go through. At Rs 35-40 average price there would be a lot of people who would like to make that open offer and to that extent Satyam might be taken over by another company. And the chances of salvaging something from wreck improve a little bit if you are a medium-term investor in the stock.

If you are a trader you will be disappointed saying that I was buying at Rs 40-50 because I thought there would be Rs 100 as open offer price but now the open offer price may be no more than Rs 35-40, so that near-term arbitrage play gets disappointed a little bit and to that extent traders might withdraw their fingers from their stock a little bit.

Getting a little alarmed about the aggression with which Mr BK Modi is bidding for it because that from a longer-term investor's point of view would be the worst case scenario for Satyam. You would any day want L&T to take over the reigns or any other technology company. But investor getting into the stock saying things like KL Chugh will be the CEO etc with his checkered past and history, it's send a little bit of shiver down your spine. I hope that doesn't happen and somebody a little bit more sensible or from a strategic perspective gets the reigns of Satyam.