Satish,

Let's see: mass of the Moon ~ 7x10^22 kg, roughly half a light second away

Mass of a really large satellite (ISS) ~ 5x10^6 kg roughly 4x10^6 m away

The magnitude of a tide will be proportional to the mass of the orbiting object, and to first order, proportional to the square of the distance.

For the Moon, M/(r^2) is roughly 3x10^9

For the ISS, M/(r^2) is roughly 0.0000003

So the ISS raises a tide that is around sixteen orders of magnitude weaker than that of the Moon.

In addition to the answer by James Garry, consider also that if the distribution of the entire satellite fleet is symmetrical (or roughly symmetrical), then there won't be tidal effects.

Tides are deformation of a linearly moving rotating body with respect to its assumed average shape. Any external force on a linearly moving rotating body causes the body to bulge in both directions along the direction of external force. Therefore, if the satellite is large enough to cause ample central force on a rotating planetary body, it will create its own pair of tides. See: Article Tides