Satyam Computer Services slumped 3.27% to Rs 444.75 at 10:31 IST on BSE even as the company said it has formed an alliance with US based Sciformix Corporation to provide end to end management services in 'Pharmacovigilance'.
The company made this announcement after trading hours yesterday, 26 June 2007.
Meanwhile, the BSE Sensex was down 499.09 points, or 3.46%, to 13,922.73 on weak cues from global markets. US stocks plunged on Thursday, 26 June 2008, with the Dow Jones Industrial Average sliding about 360 points to a 21-month low as oil hit a record and Goldman Sachs urged investors to sell bank and automaker shares, escalating concern about the outlook for profits.
On BSE, 47,504 shares were traded in the counter. The scrip had an average daily volume of 8.05 lakh shares in the past one quarter.
The stock hit a high of Rs 451.40 and a low of Rs 439.80 so far during the day. The stock had a 52-week high of Rs 544 on 30 May 2008 and a 52-week low of Rs 305 on 22 January 2008.
The large-cap company had outperformed the market over the past one month till 26 June 2008, declining 10.61% compared to the Sensex’s decline of 12.73%. It had also outperformed the market in the past one quarter, gaining 12.57% compared to Sensex’s decline of 11.91%.
The IT firm has an equity capital of Rs 134.48 crore. Face value per share is Rs 2.
The current price of Rs 444.75 discounts its Q4 March 2008 annualised EPS of Rs 27.95, by a PE multiple of 15.91.
US based Sciformix Corporation headquartered in Westborough, MA provides drug safety data management, clinical data management, biostatistics and programming and medical writing services to pharmaceutical, biotechnology and life science companies globally.
In May 2008, Satyam Computer Services signed a pact with Siemens PLM Software to provide lifecycle management software and services to customers.
Satyam Computer Services’ net profit rose 6.22% to Rs 468.45 crore on 9.89% to Rs 2319.38 crore in Q4 March 2008 over Q3 December 2007.
Satyam Computer Services is a global business and information technology services company. It delivers consulting, systems integration and outsourcing solutions to clients.