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SATYAM COMPUTERS
CMP (Rs): 65.85 EPS (Rs.): 0.00 52 Week High : 120.90
MCap (Rs. Cr.): 7988 Book Value(Rs.): 19.52 52 Week Low : 59.00
Fundamental View :
Satyam posted bleak results in September 2010. EBIT margins came in just 2.5% in
Q2FY11 & have significantly deteriorated over FY10 margin of 4.4%.
The company reported Q2 ending headcount of 28,068 of which about 2500 are in
BPO. Utilization stood at 71% while attrition for quarter stood at 25%. The company
has 217 active customers as per new classification earnings.
The company has a current debt of Rs342mn & a cash balance of Rs 25.3bn against
Rs21.8bn at the end of Q2FY10, implying a cash generation of Rs3.5bn.
Outlook: The company is in process of reversing its initial losses after January 2009 hit.
Technical View:
In the daily charts the stock is below its 25 DMA which is at 68.09. The 14 day RSI is 43.11,
MACD on daily charts is 0.00. The stock is below its 200 DMA which is at 83.20.
Recommendations:
The stock has fallen 6% this week giving way to broader market decline and 64-65 levels are
immediate support. Below these levels it may retest the 52-week lows around 59 levels
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