MUMBAI (Reuters) - Indian television channels reported Indian IT services firm Tech Mahindra was the winning bidder for fraud-hit Satyam Computer Services , with a bid of 58 rupees a share.
Earlier on Monday, Tech Mahindra shares extended gains to 25 percent after television reported a rival bidder had dropped out of the race.
At 12:02 p.m. (2:20 a.m. EDT), Tech Mahindra shares were up 14.1 percent at 365.15 rupees, having risen as high as 400 rupees.
(Reporting by Prashant Mehra; Editing by John Mair)