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 expects to grow its headcount substantially in China from the current 300 to a few thousand in the next few years, even as it scouts for acquisitions to enhance its skills in areas it does not have a foothold.
Indian IT firms have piled up net cash in excess of Rs 20,000 crore
Satyam Computer Services has reached an agreement with Australia's Victoria University to jointly conduct research and also provide the university's students hands-on working experience on its projects.
Satyam Computer Services on Friday said it would invest $75 million in 2006-07 to augment its infrastructure and was looking at a location in the National Capital Region to set up a new development centre.\n\n
The National Association of Software and Service companies has appointed S Ramadorai, chief executive officer, Tata Consultancy Services as the chairman of Nasscom for the year 2005-06.
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.
Fourth largest software exporter from India, Satyam Computer Services on Thursday said it would expand its global footprint by opening more delivery centres and sales offices overseas.
Leading IT services firm Satyam Computer Services will be allotted 50 acres of land in Chennai by the Tamil Nadu government for expanding its operations.
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.
Virender Aggarwal, chief of Satyam Computer Services, Asia Pacific, became the first Indian to receive the prestigious International Management Action Award of Singapore.
"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.
Indian IT services major TCS will open a global delivery centre in Mexico next year.
Satyam Computer Services Ltd plans to expand its operations into smaller Chinese cities to meet the growing outsourcing requirements.
Satyam Computer Services Ltd on Thursday announced that it would recruit fresh graduates in its first management graduates hiring programme outside India
Satyam Computer Services expects to boost its headcount to 3,000 in China, where it plans to open its fourth development centre, and is also looking at acquisitions in Japan.
The software company has conducted 'mass recruitment' of entry level engineers from top Malaysian universities.
Satyam Computer Services Ltd on Wednesday launched a Global Development Centre in Melbourne, Australia, which is the company's largest centre outside India.
The Special Court on Monday has sentenced erstwhile Satyam chairman B Ramalinga Raju and his brother Rama Raju to six months imprisonment for violating provision of the Companies Act.
Warning the Indian IT industry against complacency, the head of Satyam Computer Services has said it needs to continuously innovate to keep ahead of other developing nations including China which are 'eyeing a piece of the pie.'
Moving beyond their relationship with educational institutions only for campus recruitments, companies are now entering into long-term pacts with premier institutions for joint research on new products.
The knowledge economy demands that companies must put premium on their soft assets such as workers, brand value and goodwill, B Ramalinga Raju, chairman, Satyam Computer Services, said on Friday.
Satyam Computer Services Ltd on Tuesday announced the signing of a multi-million dollar deal with the prestigious New Bangkok International Airport-Airport information Management System.\n\n
Satyam Computer Services has announced a 17.84 per cent jump in its January-March quarter profit after tax at Rs 468.45 crore. Satyam had reported a PAT of Rs 397.51 crore (Rs 3.97 billion) for the fourth quarter ended March 31, 2007. The stand-alone total income increased to Rs 2,337.84 crore (Rs 23.37 billion) for the quarter ended March 31, 2008 from Rs 1,778.40 crore (Rs 17.78 billion) in the year-ago period. The total dividend recommended for the year is 175 per cent.
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