UK-based First State Investment Management has hiked its stake in Satyam Computer (now rebranded as Mahindra Satyam) to 5.02 per cent.

In a disclosure to the Bombay Stock Exchange, Satyam said the investment firm has bought 2.56 lakh shares or 0.02 per cent stake in the company yesterday through open market purchase.

Calculated on the basis of yesterday’s closing price of Satyam (Rs 109.50), the deal value comes to Rs 2.80 crore.

First State is part of the asset management business of the Commonwealth Bank of Australia.

First State Investment, which held 4.99 per cent stake in Mahindra Satyam, has increased its stake to 5.02 per cent pursuant to the said acquisition.

Shares of Satyam closed at Rs 108.60, down 0.82 per cent on the BSE.

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