Business

MUMBAI, Jan 9 – Shares in India’s Satyam Computer Services <SATY.BO> slumped more than 70 percent early on Friday and dragged the main index down more than 2 percent.

Satyam, which had plunged nearly 80 percent on Wednesday after the outsourcer said it falsely inflated profits for many years, dropped as much as 71.2 percent to 11.50 rupees when trading resumed after a holiday on Thursday.

At 9:56 a.m. (0426 GMT), the 30-share BSE index <.BSESN> was down 2.42 percent, or 232.16 points, at 9,354.72, with 27 of its components in the red.

The 50-share NSE index <.NSEI> was down 1.6 percent at 2,873.60.