"I am of the view that resigning from the board now is like deserting a troubled ship. We should remember Satyam is a major player in global IT space, employing well over 50,000 of the best and the brightest of professionals, with vendor commitments to several global corporates and entities," said Satyam's independent director T R Prasad.
The stake of B Ramalinga Raju's family in Satyam Computer Services may have come down to just around four per cent from 8.61 per cent of the equity of Rs 134.10 crore as at the end of March 2008.
Muted rupee-term guidance, no upward revision in dollar-term guidance, an uncertain global business environment, forex losses due to over-hedged positions and low volume growth by the top four Indian IT firms this week spooked investors on Friday.
Economic Survey says Services Sector Negotiations at WTO Crucial.
As per the contract, Satyam would develop a customised event management system and build extranet and intranet over the next 12 months.
The Hyderabad-based company may generate about $12 million revenues during the current financial year from its South African operations against $4 million in 2006.
The company expects the division to add double-digit growth to the company's top line during the current financial year, he said.
The centre named Process Manufacturing Innovation Centre of Excellence would help companies to take advantage of the advancements made in IT - mainly in areas of product and process innovation, Satyam said.
Tata Consultancy Services topped the list of top 10 best performing IT service providers worldwide rated by Global Services, a specialised publication for IT businesses.
The company has over 100 engineers operating in the country over the last three months. The team would work in programme managing deliveries out of China, Japan and India. Besides, Satyam has been successfully sourcing Japanese bilingual manpower from Vietnam.
IT major Satyam Computer Services Ltd on Wednesday said it will implement an infrastructure lifecycle management solution for the Dubai Municipality engineering departments with a view to address its administrative and technical problems.
Satyam Computer Services has signed a $71 million seven-year contract with Qantas for development and maintenance of over 150 applications across a wide portfolio of technologies.
The L&T stock, which fell by over 5 per cent in intra-day trades on Monday bounced back towards the end of the session though it was still in the red. The stock has been badly de-rated since the engineering major made it clear that it was a contender for Satyam, picking up a 12 per cent stake in the tech firm. Had L&T won control at the winning bid of Rs 58 per share, the stock may have lost further ground. As it stands, not too much damage has been done.
The Satyam buyout gives the tech firm a chance to diversify away from telecom, something it badly needed to do. It shouldn't be too difficult for Satyam to be able to turn in an operating profit of close to Rs 1,000 crore in 2009-10, so that would translate into an EV/ebitda of 8.4 times for the company.
Satyam Computer Services Ltd said on Monday it has signed a strategic partnership agreement with Denmark-based NNIT, a leading consultancy firm in IT operations.
Wipro, Satyam join TCS, Infosys in beating rupee blues.
Aditya Birla Group, Satyam Computer Services and Marriott Hotels India have been ranked as the top three employers in India.
L&T has spent around Rs 600 crore for the Satyam stake, leading to a de-rating of its stock. But the bigger worry seems to be a loss of momentum in order inflows; L&T had indicated that orders would increase by about 30 per cent in the current year; that target may be missed because of a delay on the part of ONGC in awarding contracts. Besides, a small part of the current order book, which is a robust Rs 69,000 crore, could see delays of between 8-10 months.
"Whether it (stake to be offered in Satyam) is 31 per cent or 26 per cent, anybody coming in would have to make an open offer of 20 per cent in the market. Then the number of shares with the person or with the bidder could be higher than 31 per cent or 26 per cent. So that is not an issue," Corporate Affairs Minister P C Gupta told reporters in New Delhi.
India's second-largest IT services exporter targets Australia, Japan, South Africa.
It will serve as a major technological development and software support facility for the company's ASEAN, US and Middle Eastern customers.
Satyam Computer Services Ltd set up a learning centre for the families of Satyamites.
Sipika Singh switched careers from being a senior consultant with Ernst and Young to a regional marketing role in the pharma major, Novartis in Singapore.
IT services provider Satyam Computers Services Ltd said on Monday it has entered into an agreement with The University of Melbourne for enabling students of the varsity to do software development internship with the company each year.\n\n
Global consulting and IT giant Satyam Computer Services on Thursday announced plans to launch its largest global delivery campus outside India in the eastern Chinese city of Nanjing
The seven-year deal will enable integration of support functions and build best-in-class organisational processes for the bank.
More and more domestic companies are setting up business process outsourcing units in district headquarters, tier-III cities and non-IT clusters to save on real estate costs and stem attrition rates.
Leading Indian and global information technology firms such as Tata Consultancy Services (TCS), Cognizant Technology Solutions, IBM, Satyam Computer Services and Wipro top the list of L visa users for the financial year 2006-07.
Satyam Computer Services Ltd on Tuesday said it is providing a free data management solution, as well as IT services to 'Project Hope' in China.\n
Infosys is boosting its investments in training by more than two-and-half-times to Rs 1,600 crore (Rs 16 billion) besides adding to the seating capacity, as scramble for talent in the industry gains further momentum.
Asian Paints, Cipla, Bharat Forge, Dabur India, Nicholas Piramal and Satyam Computer Services are among the 20 Indian corporate entities that have found place in Forbes' list of 'Best Small Asian Companies'.
Indian IT firms have piled up net cash in excess of Rs 20,000 crore
Nissan has signed a five-year-deal with Satyam Computer Services Ltd to enhance its key North America business portfolio.
Satyam Computer Services said it continued to support its long-standing partnership with IBM for lotus enterprise solutions.
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