Mahindra Satyam Ltd has surged more than 12 per cent in today’s trading session, a week prior to the revelation of audited financial outcomes for the last two financial years (2008-09) & (2009-10).

Post the buy out of Satyam Computer Services, the Mahindra group had demanded extra time to review financial data in the last financial year (2009-10) and the last fiscal.

The company’s board meeting will take place on the coming Wednesday (29th September).

Mahindra Satyam will re-state accounts in Hyderabad.

At the Bombay Stock Exchange (BSE), the shares of the company surged 12.33% to hit an intra-day peak of Rs 107 as against its last closure at Rs 95.25 on Tuesday (September 21).

The results declaration assumes importance as it would offer up an apparent image of the financial condition of the corrupted company, which was hit by the Rs 7,126-crore fraud during January last year.

Mahindra Satyam is likely to declare a roadmap for the amalgamation and incorporation with Tech Mahindra and expected shift of main offices from Hyderabad.