Fraud-hit Satyam Computers Services is back into the group of top 100 companies in terms of market valuation, reported the PTI. The market capitalisation of the company grew to about Rs.7,800 crore following the disclosure of its profits that led to a sharp rally in its share price.
The IT giant faced a serious crisis in January following its founder Ramalinga Raju's disclosure about fraud and its share price tumbled to all time lows.
Tech Mahindra acquired a controlling stake in Satyam through a bidding process. Since then, the comapny's market valuation has increased to around Rs.8,799 crore, with its shares more than doubling to Rs.722 on June 12 compared to Rs.359.45 on April 13. However, analysts say that Satyam stock at the moment might be a high risk move as still uncertainties prevail about its future.