Oct. 25, 2009 (The Hindu Business Line) --
K.S. Badri Narayanan
Among the ADRs, Satyam (NYSE:SAY) Computer plummeted by 12.15 per cent. The company had received a letter from New York Stock Exchange that it would be included on the late filer’s list on October 22 following Satyam’s failure to file the annual report with the Securities and Exchange Commission by October 15. Satyam, meanwhile, said that the Company Law Board has extended time up to June 30, 2010, for filing of documents — including the financial statements for 2008 and 2009.
Infosys Technologies, whose promoter Mr N.R. Narayana Murthy offloaded 8 lakh shares to set up a venture capital fund, gained 2.14 per cent at $48.58. Wipro and Patni Computer also closed in positive territory.
Dr. Reddy’s Lab recovered sharply to $20.43 from its weekly low of $19.31 after the company announced a 107 per cent surge in net profit.
ICICI Bank and HDFC Bank (NYSE:HDB) tumbled in line with broad market.
