Thursday, January 24, 2008

Satyam Computer lists on Euronext

IT firm Satyam Computer Services Ltd today announced that it has listed its American Depositary Shares (ADSs) on Euronext Amsterdam, which is part of New York Stock Exchange Euronext.

The listing and trading of the ADSs on Euronext Amsterdam commenced on January 23, 2008 at 12.30 p.m. Satyam's ADSs are also listed on the NYSE, the company said in a filing to the Bombay Stock Exchange.

The listing makes Satyam the first company to be listed on each of the NYSE, Euronext Amsterdam and India's National Stock Exchange (NSE). NYSE owns a 5-per cent stake in the NSE.

Posted by crazyreader at 10:51 PM 0 comments

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BUY to ITC for target Rs 242

ITC for a target price of Rs 242, an upside of 14 per cent to the market price of Rs 213 considered by the brokerage.

ITC reported sales of Rs 3,460 crore in October-December quarter of 2007 as against the brokerage's estimate of Rs 3,580 crore. Profit after tax was Rs 830 crore against the estimated Rs 797 crore. Other income increased from Rs 69.8 crore to Rs 137.4 crore, led by higher yield on treasury investments in debt instruments.

Posted by crazyreader at 10:27 PM 0 comments

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