Indian IT service providers are increasing their exposure in the healthcare and pharma segments. Multi-million dollar deals in this space by IT firms over the past three-four months only buttress this trend. Healthcare outsourcing has moved away from just undertaking medical transcription and business process outsourcing (BPO) work to core functions such as drug discovery, testing, research and development.
US-based Spectrum Global Fund Administration, providing back-office operations to hedge funds in the US and the UK, is closing its facilities in India. The company had started its operations in India two years ago.
The lower sales growth rate is on account of single-digit growth in sales by Reliance Industries (6.3 per cent), Reliance Energy (9.53 per cent), Hero Honda (5.48 per cent) and Biocon (7.52 per cent). Companies that posted a decline in sales included two-wheeler giant Bajaj Auto (- 3.03 per cent), pharmaceutical major Ranbaxy (-4.79 per cent) and Madras Aluminium (-11.13 per cent).
Unlike the first quarter of FY08 when Indian IT small- and mid-caps were hit hard due to a nearly 7 per cent appreciation in the rupee against the dollar, the July-September period was relatively kind to these firms. It spared them to some extent, since the rupee appreciated around 1.5 per cent over the period. However, the rupee rose around 12 per cent against the dollar over the last 12 months.
The country's two ubiquitous financial powerhouses, HDFC and ICICI Bank, have been the darling of participatory notes, the instrument through which overseas investors invest indirectly - through foreign institutional investors - in India's stock market. Among the stocks comprising Bombay Stock Exchange's Sensitive Index and National Stock Exchange's S&P Nifty, HDFC has the highest P-Notes holding in value, 14.2 per cent, followed by ICICI Bank's 9.1 per cent.
Contrary to popular understanding, operators do not manage these incoming votes. It is the channel operators who manage and collate the results of these SMSes. Yet, in terms of revenue sharing, close to 70 per cent of the share goes to the telecom provider while the channels get only 30 per cent.
Indian notebook sales are moving at a scorching pace -- 73 per cent year-on-year in the first quarter of 2007 -- and this is affecting the volume growth in the IT peripherals market.
Analysts expect that Bharti Airtel, Reliance Communications (RCom) and Idea Cellular will post over 50 per cent annual growth in revenues (year-on-year) and more than 10 per cent sequential growth (over the previous quarter). Bharti continues to lead in the subscriber addition race (2.1 million in August).
Analysts at stock broking houses Motilal Oswal, Religare Securities, IL&FS Investsmart and Sharekhan say that while Maruti Udyog is doing well, the other biggies Tata Motors and Mahindra & Mahindra would have weak single-digit performances that could lead to a decline in net profit.
Close to 60 per cent of revenues of Indian IT service providers comes from the US market. With the rupee having appreciated more than 12 per cent over the past year, IT firms have increased billing rates, in most cases for new as well as existing clients.
Indian IT firms have been announcing incremental increase in billing rates for quite some time now to counter wage hikes and rising visa costs, to name a few.
Four L&T executives, 2 from RIL and 1 from Tech Mahindra own over Rs 100 crore (Rs 1 billion) each in stock options.
Mumbai-based Patni Computer System's stake sale has been stalled, perhaps indefinitely, according to sources close to the development.
Sectors that are insulated from the sub-prime mortgage crisis unfolding in the US are the heavyweights in Indian stock indices. In comparison, sectors like information technology and pharmaceuticals, which depend a lot on the US market, carry less we
The company will be taking its total outsourcing offering to the retailers in the small and medium enterprise category, whereas for the large retailers, it will pitch the best-of-the-breed target solutions to cater to specific problems.
However, the income profile shows a classical pyramid-shaped society with only 600,000 households earning above Rs 18 lakh per annum, according to the Mr and Mrs India survey by brokerage firm CLSA Asia Pacific Markets.
The seven-day non-stop rally has recouped 75 per cent of the market capitalisation eroded during the preceding free fall as seven in every 10 stocks traded on the Bombay Stock Exchange staged a recovery (BSE).
Infosys spent Rs 70 crore last year on its brand building exercise. The company underlines that it focuses on earning the respect of all its stakeholders.
The US sub-prime lending crisis forced Mumbai-based WNS Holdings to revise its net income guidance by 60 per cent, and this is worrying the $8 billion business process outsourcing sector players and analysts.
IT-BPO firms offer end-to-end mortgage origination services and manage servicing activities.
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