Most IT companies, however, did not offer any comment citing 'silent period before quarterly results'. To know more on the sector and companies, read on.
The immediate blow
Experts feel that Tata Consultancy Services (TCS), which gets 43.6 per cent from the BFSI segment and is estimated to be generating about 3.5 per cent of its total revenues from Lehman Brothers, Merrill Lynch and AIG, would be the most affected.
Among the other notable exposures to these troubled financial institutions, it is estimated that each, Infosys and Satyam, earn about two per cent of their total revenues from AIG and Merrill Lynch, while Wipro's exposure to Lehman Brothers is estimated to be about half a per cent.
"Indian tech firms might not be too affected by the exposure to these institutions. But, it is the indirect impact on growth trajectory of the technology service providers, that is worrying," asserts Viju George, analyst, Edelweiss Securities.
Nevertheless, until the companies spell out the numbers (which should hopefully come out with their Q2 results), the markets will have little option but to keep guessing the quantum of skeletons.
Image: The headquarters of the investment bank Lehman Brothers in Manhattan in New York City. | Photograph: Mario Tama/Getty Images
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