Experts say people realise there is no bailout, so they are dumping Satyam.
Mumbai: The BSE Sensex fell 4 per cent early on Thursday, tracking the falling global markets and a deepening banking crisis in the United States, while Satyam Computer tumbled as much as 30 per cent on a newspaper report there was no plan for a government bailout.
Fraud-hit Satyam is a financially viable company and there is no plan for a government bailout, the Times of India newspaper said on Thursday, quoting a newly appointed director.
"People are realising there is no bailout package. So people who have bought it before are dumping it," said Arun Kejriwal, director Kris Research.
By 0438 GMT, the main 30-share BSE index was down 4.05 per cent at 8,990.95 points. Satyam was down 19 per cent at 24.25 rupees, off an early low of 20.55.
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