Satyam scam magnitude of Rs. 14,000 cr: CBI

The stock price of Satyam got hammered today, falling close to 12% intraday, before closing 10% down at Rs. 90.55. Large volumes on the counter were seen on tremendous short selling, as the stock tumbled below the Rs. 90 level it had found as support. This happened as CBI filed the second chargesheet yesterday against R. Raju. As against the initial estimate of Rs. 7,800 cr, the new estimates come at an almost double figure of Rs. 14,000 cr- according to Economic Times.

With the stock falling, the management of Satyam came out announcing that audited figures for Satyam would be made available in the next 6 months.
Uploaded at 11/25/2009 08:20:00 PM
by Chinmay
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