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WHEN most technology stocks were dull at the stock market, Satyam Computer continued to remain firm on Tuesday. The run-up in the stock price was attributed by market players to the stake sale by the company in its subsidiary Satyam Infoway. It is understood that the stake sale in Satyam Infoway by Satyam Computer would be completed shortly. There were speculations earlier on the stake sale.

The market talk has it that a leading private sector company with interest in telecom and Internet is close to buying out the stake.

On these speculations, the share of Satyam Computer gained 2.32 per cent at Rs 255.85 on the BSE with volumes of 56.13 lakh shares. On the NSE, it closed at Rs 258, up 2.89 per cent with volumes of 1.34 crore shares. Volumes on Tuesday were higher than that on Monday.

Talk of unit sale lifts Indian Rayon

ADITYA Birla group Indian Rayon was up sharply on Tuesday along with heavy volumes. The stock ended 9.46 per cent higher at Rs 123.25 with volumes of 7.37 lakh shares on the BSE. On Monday, volumes were 3.92 lakh shares. On the NSE, the stock gained 8.94 per cent at Rs 123.60. Volumes surged to 10.91 lakh shares compared to 7.33 lakh shares witnessed on Monday. Increased interest in the stock is mainly on talks that company might hive off its insulators division. The division contributed around Rs 200 crore turnover in 2001-02.

Virendra Verma

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