The markets strengthened at present levels after a rally of more than 2.5% yesterday at 11:48 hours IST.

Markets bounced back after two days of dip.

Mahindra Satyam has assigned 19, 86, 58,498 shares to Venturbay Consultants Private Limited.

30.15lakh shares have been traded on BSE in the counter as opposed to a standard everyday volume of 1.49crore shares in the last single quarter.

Mahindra Satyam has received the CLB authorization to assign more than 19.86crore equity shares to Venturebay, a subordinate of Tech Mahindra.

Satyam’s shareowners have turned down the open bid offered by Tech Mahindra as only 4, 20,915 shares in the firm were tendered in the bid.

Reportedly, the government now seeks to cancel the appointment of six directors as the company is owned by a new proprietor.

The Centre is expected to move the Company Law Board this week for summoning up these directors to hand over efficiently the management to the latest proprietor of IT company, Tech Mahindra six months after the government outmoded Satyam Computer’s board and selected its candidates on it.

Tech Mahindra is expected to increase nearly Rs.1, 000crore through its projected QIP with a purpose of decreasing nearly valued at Rs.500 to Rs.1, 000crore of its remaining debt.

Presently, Satyam Computer Services trades at Rs.78.7 on each share, which is high with 1 point on the Sensex.