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Mahindra Satyam Tech Mahindra to create formidable entity; markets cheer
Despite the markets tanking today, both the stocks were up dramatically on expectations that the new entity would be a formidable one. The Mahindra Satyam stocks was up 3.5%, following yesterday's sharp rally of more than 6%, while Tech Mahindra gained 5.68%.
Reports reveals that the company is likely to see a staggering 75,000 employees generating revenues in excess of Rs 12,000 crores in revenues.
The company has some prestigious stakeholders including British Telecom which is expected to see its equity stake dip around the 10% mark in the merged entity.
Ever since the Ramalainga Raju episode, the erstwhile Satyam Computers has gained rapid ground under the Mahindra banner to regain lost ground and resurrect itself virtually from the dead.
The merged entity is now expected to create the fifth largest IT company in the country and will vie for an increasing market share in the global market space.
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