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Friday, January 09, 2009

Satyam Computer Services dropped from key benchmark indices

Changes to take effect from Monday, 12 January 2009

Key benchmark indices - the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Wednesday, 7 January 2009, after market hours, removed Satyam Computer Services from their respective benchmark indices.

The BSE will replace Satyam Computer Services with drugmaker Sun Pharma in the BSE 30-share Sensex pack. GlaxoSmithkline Pharma will also replace Satyam in the BSE-100 index.

The NSE will drop Satyam from its S&P CNX Nifty 50-share index. Reliance Capital will replace Satyam in the main Nifty index, CNX 100 index, CNX 500 index and the CNX IT index.

The changed will take effect from Monday, 12 January 2009. Satyam shares on Wednesday, 7 January 2009, plunged nearly 78% on the bourses following the shocking disclosure of accounts fudging by its founder Ramalinga Raju, who then quit as chairman - leaving an uncertain future for the company and its 53,000 employees.

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