PTI

Mumbai, Jan 13: Beleaguered Satyam Computer on Tuesday continued to be one of the top traded stocks on the bourses, even as the scrip plunged over nine per cent, a day after the newly appointed board said its top priority is to restore confidence of customers, employees and investors.

Satyam scrip settled down 9.16 per cent at Rs 31.25 after touching an intra-day low of Rs 30.20 and a high of Rs 37 during the day on the Bombay Stock Exchange.

The high volatility in the stock attracted day-traders to reap gains from selling the stock at high price and buying it when it was at low levels.

Analysts said that the stock, which has been excluded from the Sensex, has now become an attractive counter for day-traders which is visible from the high trading volumes for the scrip on the exchanges.

Over 10 crore shares of Satyam changed hands at both the bourseson Tuesday.

The government today ordered investigation into the Satyam scandal by the Serious Fraud Investigation Office (SFIO), an entity that probes cases of economic offences of grave nature.

"The SFIO will submit its report in three months," Corporate Affairs Minister Prem Chand Gupta said.

Marketmen said government probe would bring back investors confidence in the stock in long term, but investors are worried as of now and want to exit from the stock.

Besides, Satyam's new boardon Monday decided to change top management, to seek advance from clients and explore all options, including merger, to salvage the firm, which is hit hard by Rs 7,800-crore scam and resultant liquidity crunch.

Similar movement was witnessed on the National Stock Exchange where Satyam settled down 9.74 per cent at Rs 31.05.