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Satyam still finds takers, people picking up the shares at the current rock bottom price

Even as many people in the city who own Satyam shares are feeling the heat, there are actually some who are picking up the shares at the current rock bottom price, in the hope that a bail-out will soon revive the company and eventually get them handsome profits.

“I bought 200 shares a couple of days ago, following the advice of a share broker. The share value was around Rs 40 and I think the company will be taken over by some other firm. Once the government puts the act together, a clear picture will evolve and the share value could go high,” opined chartered accountant Chandrashekara Yardi.

Ajay Laddha of Khantwala Securities Ltd confirmed that around 100 people approached him to buy Satyam shares on Friday, when it had touched the Rs 20 mark. “Most of them were senior people who have been into the share market for a long time. People are still buying Satyam shares, anticipating that once the government takes control everything will fall in order and the shares of the company will shoot up,” he explained.

“I bought shares of Satyam a couple of weeks back when the company back-footed from the plan to buy Maytas. I thought it was good bet since it was one of the country’s top IT companies and the share price had dipped to reach Rs 170. I was tempted to sell it when it touched Rs 800 but a power cut kept me away from trading online. Now I am stuck. I certainly don’t want to trade my shares for Rs 20. I am waiting and closely watching what happens after the government takes control,” said Augsto, who owns 400 Satyam shares.

Source / courtesy: Yahoo news