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MUMBAI | Mon Apr 13, 2009 7:29am BST

MUMBAI (Reuters) - Shares in Indian IT services firm Tech Mahindra (TEML.BO), a bidder for fraud-hit Satyam Computer Services (SATY.BO), extended gains to be up nearly 25 percent on Monday after television reported a rival bidder had dropped out of the race.

At 11:50 a.m. (0620 GMT), Tech Mahindra shares were up 19.3 percent at 381.70 rupees, having risen as high as 400 rupees.

Earlier, CNBC-TV18 had reported Tech Mahindra submitted a bid for Satyam. Indian television channels reported that Larsen & Toubro (LART.BO) was out of the race for the outsourcing firm.

(Reporting by Ami Shah; Editing by John Mair)
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