Only four companies entered the second round of bidding. Larsen & Turbo, Tech Mahindra, Ross and Cognizant. Out of this Tech Mahindra quoted for 58 Rs per share whereas L&T bid for only 49 per share. The bidding process would have continued if one of the company quoted atleast 90% of the highest bid. This didnt happen and so the bid was awarded to Tech Mahindra.
The shares of both the companies Tech Mahindra (up by 12%) and Satyam (up by 7%) have seen huge volumes of trading today. If the IT companies fare well in the coming days then this may turn out to be a good deal for both the companies. So it is better to stay away from these two company shares as of now. Infosys is about to announce their Q4 results soon. So all eyes are set on that.
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