The banking turmoil in the US and UK is gnawing away at the growth of Indian IT firms. Yet, domestic IT firms are expected to make at least six to eight more acquistions, similar to the bid for Axon by Infosys Technologies and HCL Technologies, over the next 12 months as they try to shore up their top lines in a bid to meet their revenue guidance.
For instance, more than half of the 11 IT companies that provide full-year revenue guidance run the risk of missing their numbers (in dollars) this year, according to Credit Suisse analysts. Their new estimates are now at the lower end of guidance for Infosys and Satyam and below guidance for MindTree. Among the large caps, they say that HCL Tech provides the highest downside, followed by Wipro and Satyam and TCS. Since economists believe the bottom is still a couple of quarters away, it could lead to an elongated period of slowdown for these firms.
Another significant trend is the move of Indian IT firms to rise up the value chain — to compete with the likes of IBM, Accenture and HP (EDS) — with these buyouts, which give them "complementary skills, added capability besides business transformation (when IT becomes a critical part of the business model) capabilities".
Source:
BPO Watch
Showing posts with label Satyam. Show all posts
Showing posts with label Satyam. Show all posts
Monday, September 29, 2008
Saturday, September 27, 2008
Satyam top brass go on stock-selling spree
Even while assuring its employees and stakeholders that all's well at Satyam Computer Services, despite the US economy slowing down and the various hurdles Indian IT companies are facing, senior management executives of the NYSE-listed IT firm are on a stock-selling spree.
About half a dozen top executives of the company have offloaded over 1.5 lakh shares in the last few days.
Interestingly, Satyam's Chief Financial Officer, Srinivas Vadlamani, too, is among those top executives who have bundled out their shares. Apart from Vadlamani, the sellers include T. Hari, the company's global head of marketing communications, K. Sriram (part of consulting team), Manish Mehta (head of SAP practice), Kiran Cavale (head of business intelligence and data warehousing, and Venkat Kumar Raju. The list of sellers also includes Vinod Dham, who is on the board of directors of the company.
Source:
Sify
About half a dozen top executives of the company have offloaded over 1.5 lakh shares in the last few days.
Interestingly, Satyam's Chief Financial Officer, Srinivas Vadlamani, too, is among those top executives who have bundled out their shares. Apart from Vadlamani, the sellers include T. Hari, the company's global head of marketing communications, K. Sriram (part of consulting team), Manish Mehta (head of SAP practice), Kiran Cavale (head of business intelligence and data warehousing, and Venkat Kumar Raju. The list of sellers also includes Vinod Dham, who is on the board of directors of the company.
Source:
Sify
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