Satyam Stock Price Crashed to Rs 60 With Raju Resigns

Satyam Latest News Ramalinga Raju Resigns Satyam Shares Hit Low of 58. Sad part on Indian co-operate governance. Raju of Satyam resigns, shocking India Inc with the biggest fraud in recent times.
With yesterday news about merger with Tech Mahindra Satyam shares went up by 7%.
Satyam Computer Services founder chairman B. Ramalinga Raju resigned from the IT major's board after admitting a fraud to the tune of Rs 5,040 crore in the balance sheet of the company. reports sify
In a notification to the stock exchanges, the Hyderabad-based IT firm said Ramalinga Raju and Managing Director Rama Raju had resigned early Wednesday and that the Securities and Exchanges Board of India (SEBI) had been informed.
"This is an event of horrifying magnitude and has happened for the first time. So I am sure there are many lessons to be learned," C.B. Bhave, chairman of Securities and Exchange Board of India, told television channel CNBC TV 18. satyam, satyam computers, satyam auditors, livemint, satyam chairman resigns
Read on Ramalinga Raju's letter to Board

Satyam stock price Update:
Chairman B. Ramalinga Raju’s admission that Satyam Computer Services Ltd’s Balance Sheet was completely fabricated got the stock
crashing down by 66.5 per cent to Rs 60 from Wednesday’s high of Rs 188.70.

The share hit a low of Rs 58, as details of the extent of fraud perpetrated by the promoters shook the stock market and cast a grim cloud over the corporate practices of companies.
Satyam Was in news with layoff, and today it seems like end of Satyam news stories. Another black day in Indian share market.
This make trouble for IT stocks and big question on India Inc.