Mahindra Satyam rose 1% to Rs 91.45 at 14:00 IST on bargain hunting after the company's top official told media that customer attrition has stopped and the firm is not resorting to price cuts to bag new deals.Meanwhile, the BSE Sensex was down 126.81 points, or 0.74%, to 17072.14.On BSE, 2.17 crore shares were traded in the counter as against an average daily volume of 78.23 lakh shares in the past one quarter.The stock hit a high of Rs 93.80 and a low of Rs 83.05 so far during the day. The stock had hit a 52-week high of Rs 251 on 1 December 2008 and a 52-week low of Rs 11.50 on 9 January 2009.The stock had underperformed the market over the past one month till 25 November 2009, falling 18.24% as compared to the Sensex's 2.31% rise. It underperformed the market in past one quarter, sliding 16.12% as against 9.63% increase in the Sensex.The large-cap software company has an equity capital of Rs 235.13 crore. Face value per share is Rs 2.Mahindra Satyam's president, global operations, Atul Kunwar was quoted by the media as saying on Wednesday, 25 November 2009, that Mahindra Satyam has added about 36 clients since July and currently has about 420 customers. It has renewed over 50 deals in the last three months.Mr Kunwar said the company is working on reviving contracts with customers who left in the wake of the scandal, and is in talks with the World Bank to lift an eight-year ban imposed last December.The company, which is looking at expanding its board with independent directors, is not seeing any payment delays, he said.The stock slumped 10.92% to Rs 90.55 on Wednesday, 25 November 2009, after the Central Bureau of Investigation (CBI) found evidence of an additional Rs 4739 crore corporate fraud in the company, perpetrated by its founder R Ramalinga Raju and his associates.
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