Tuesday, December 23, 2008

News Flash: Satyam Computer Services

I read this on www.sharekhan.com but they have got the news feed from Reuters. The flash is that Satyam Computer Services or Sify Technologies on the NYSE has been banned from business with the World Bank.

http://sharekhan.com/News/DetailedStory.aspx?NewsID=2789330c-3e08-4b9e-8846-d6cbba4e9b41

The piece states that this had nothing to do with the current fiasco at Satyam but it only goes on to show what a problematic company it could be. I have seen people asking at various mailing lists on stocks whether it would be a good time to buy Satyam as all the negatives have been built into the current price. I would not advice anyone to buy Satyam.

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