New Delhi, Jan 08: India's premier bourses, the Bombay
Stock Exchange and the National Stock Exchange, today said
there was no move to suspend trading of Satyam's shares as of
now even though the company has been removed from Sensex and
Nifty from January 12.
"The issue (of suspending the trading shares of Satyam)
has not been discussed so far. There is no such plans as of
now," the BSE spokesperson told agencies.
NSE also said it did plan to suspend trading in Satyam
shares.
However, BSE today decided to remove Satyam Computer from
its Sensex, BSE-100 index, BSE-200 index and BSE-500 index
from January 12.
Satyam would be replaced by Sun Pharma in Sensex.
GlaxoSmithkline Pharmaceuticals will replace Satyam in the
BSE-100 index, BSE said.
NSE had yesterday removed Satyam from its benchmark index
Nifty following the revelations of the company's founder-
Chairman B Ramalinga Raju that the firm's balance sheet was
manipulated with inflated numbers.
Following this, Satyam would also be removed from various
other indices like CNX 100, S&P CNX 500, CNX IT and the CNX
Services sector index, NSE said.
However, a special team of Securities and Exchange Board
of India (Sebi), headed by its Southern Region General Manager
A Sunil Kumar today began its investigation in to the Satyam
fraud at the IT major's headquarters in Hyderabad.
Bureau Report
First Published: Thursday, January 08, 2009, 00:00