Satyam Computers ADS Makes A Mark On NYSE

Hyderabad, Nov 13: | Updated: Nov 14 2003, 05:30am hrs
Sustainable long-term relationship with most of the customers, according to Satyam Computer, is the reason for the companys sustained growth and consequent performance on the bourses.

Since its listing on the New York Stock Exchange on May 15, 2001, the American Depositary Shares (ADS) of the IT major Satyam Computer Services Ltd (SCSL) has appreciated more than 100 per cent to $20.15.

The market capitalisation of the company has also substantially increased to $2.3 billion currently from $1.2 billion at the beginning of this fiscal.

To mark the occasion, Satyam Computer chairman Mr Ramalinga Raju was given a rare honour to ring the closing bell of the NYSE, where over 60 chief information officers and senior vice-presidents of Satyams Fortune 500 customers participated, to show solidarity with the IT major, Satyam Computer said on Thursday.

Addressing the gathering in the boardroom, Mr Raju said that nearly 75 per cent of Satyams business comes from the US.

Satyam has built a long-term sustainable relationship with most customers and looks forward to strengthening them further and building new ones.

For which, Satyam will continue to deliver higher value solutions to all the customers.