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Sathyam may be removed from Sensex,Nifty

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Satyam Computers may be removed from the Sensex and Nifty following the revelation of manipulation in the company’s accounts, analysts said.

Rajiv Mehta, senior analyst with India Infoline, a large brokerage house said his firm has immediately stopped covering Satyam and many other brokerage houses are also expected to do the same. There will not be any investor interest in the company anyway. The company may be removed from Sensex and Nifty, he said.

With the fall in its stock prices, Satyam has lost its weightage in the Sensex considerably over the recent past and currently has weightage of only 1.56 as of (Tuesday). While in Nifty, the weightage is only 0.63 per cent.

January 7, 2009 Posted by | news | , , , , , , , , | Leave a comment