MUMBAI: Mr A S Murty, the newly appointed Chief Executive Officer of beleaguered Satyam Computer, had sold 40,000 shares at an estimated Rs 90 lakh just before the IT firm's failed bid for the two Maytas companies in December.
As per regulatory disclosures made by Satyam to the stock exchanges, Mr Murty has sold 21,000 shares between December 12 and 15 and 19,000 more on December 16, the day Satyam made a failed $1.6 billion (Rs 8,000 crore) bid for the two firms promoted by t he kin of Satyam founder Mr Ramalinga Raju.
Calculated on the basis of average BSE closing share prices of Satyam between December 12 and 16, the sell value comes to over Rs 89.68 lakh. Satyam shares closed at Rs 220.75 on December 12, Rs 225.40 on December 15 and Rs 226.50 on December 16 on the BSE.
On December 17, Satyam withdrew the bid for the Maytas firms after facing strong investor dissent, which saw its ADRs listed on the NYSE plunging 80 per cent in a single day. The share sale assumes importance as Satyam scrips took a 30 per cent hamm ering on the bourses on December 17 and plunged to Rs 158.05.
Since then the scrip has been volatile on the bourses and is currently hovering around Rs 47 on the BSE. Based on yesterday's closing price of Satyam on the BSE the sell value of Mr Murty's shares comes to Rs 18.50 lakh, nearly a fifth of the valuation h e got in December. - PTI
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment