Finally Satyam back to track with…
Scam-hitSatyam Computer has entered again the elite club of the top 100 companies interms of market valuation a status it had lost after being hit by the country'sbiggest corporate fraud.
Following a sharp rally seen in its share price last week on the back ofdisclosure about its profits, Satyam's market capitalisation has grown to aboutRs 7,800 crore, placing it among the 100 most-valued firms in the country.
The company had moved out of this league soon after the disclosure about thefraud on January 7 -- the day when its founder and then Chairman B RamalingaRaju admitted to multi- year financial fraud at the company.
Two days later on January 9 when the company's share price and market valuationhit their all-time lows at Rs 6.30 a share and about Rs 600 crore, respectivelySatyam did not figure even among the 300 most-valued firms.
In contrast, Satyam was placed as the country's 34th most-valued firm with amarket capitalisation of over Rs 15,000 crore on December 16 just before Rajuunsuccessfully tried to acquire two firms promoted by his family in his bid toconceal the financial fraud at the company.
While it is still to recover about half of its lost value due to the scam, the shareshave grown back to Rs 80-level --representing a 13-times surged from its low.
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