Buy Call: Satyam Computer Services; Maytas Deal called off

Satyam Computers Buy CallSatyam Computer Services is a good buy at current levels. The stock has lost over Rs 60 today and is currently trading at Rs 166. Investors can pick the stock at current levels as the fundamentals are strong. Citi rated the stock sell on basis of Corporate Governence issues and not on lower business. The company’s plan to get into other sectors has been condemned by various Institutional Investors.

Angel Broking has also recommended buy call for Satyam Computers in its research report issued on Wednesday. Stock market analysts at Angel Broking believe that this is a good opportunity to pick the stock at lower levels. The stock may offer decent returns in short term and the management has called off the deal.

After the deal was announced by Satyam Computers to buy stake in Maytas Infra, the stock witnessed sharp reaction in US Markets. Satyam ADR fell 55% during market hours, but recovered 56% during after hours trading.

HDFC Securities has given a Sell call for Satyam at current level (Rs 170) after the company announced Matyas Deal.

We strongly recommend that investors should consider investing in the company at current levels. The stock has potential to re-claim Rs 200 plus levels within few trading days.

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