Satyam shares fall over 30 pct on chairman comments

Shares in Satyam Computer reversed gains to fall more than 30 percent after the chairman of the embattled Indian outsourcer resigned and said numbers in its September balance sheet were misstated.

The firm also said it has formed a taskforce to address the situation after plans to acquire family firm Maytas Infrastructure failed.

At 11:34 a.m., Satyam shares were down 50 percent at 70 rupees, while Maytas shares shed 5 percent to 159.05 rupees