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Satyam Computer Services gets a new brand, Mahindra Satyam accompanied by the Mahindra flagship logo. It is not clear if the company will change its name too, as nothing is mentioned in the press release. Branding exercises can appear hyped and meaningless to some but at times, the symbolism can be quite revealing.
Anand Mahindra, vice-chairman and managing director of Kotak Mahindra Bank has told the bank that he does not wish to continue as the promoter of the bank. The board has also approved his request to cease as a promoter. He will continue to be on the board as a non-executive director. Normally, one would wonder why this happened. But in this case, Kotak Mahindra Bank has said that Mr Mahindra’s stake –3.68% including entities controlled by him- will now be reclassified as non-promoter holding.