Satyam Computer Services (SAY) shares are trading sharply higher after the Indian IT services company said it will announce audited results for both its March 2009 and March 2010 fiscal years on September 29. Bloomberg also notes that following the company’s announcement, Satyam could be absorbed by controlling investor Tech Mahindra.
The company hasn’t reported results since former Chairman Ramalinga Raju disclosed in January 2009 that he had over-stated the company’s assets by $1 billion. The scandal that followed eventually spurred the sale of control of the company to Tech Mahindra.
SAY is up 76 cents, or 13.7%, to $6.29.
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