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Information Technology - Sector
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Rural BPOs are the next revolution in Indian Information Technology (IT) sector to happen, as the industry gears up to achieve $50
billion export target this year, NASSCOM member Ashank desai said.
"The host of rural BPOs that are coming up in the country, is the next revolution in industry to happen, rural BPOs is about creating jobs, Desai who is also the chairman of Mastek, said this at IIM-A confluence here today.
"Rural BPOs will reduce the cost for Indian IT companies first, and later on globally," Desai said. Such BPOs are coming up in Karnataka and Haryana, he said.
"Over last 15 years we have increased the business size of industry almost 800 times, in 1990 our exports were 100 million this year we will do 50 billion, we have created 2 million jobs in the country directly, and another 6-8 million indirect jobs," Desai said.
"First the internet revolution, then the telecom and BPO`s, and now we are talking that business is running away urban to rural area," Desai said.
"Rural BPOs is about creating jobs. This will reduce the cost for Indian IT companys first," Desai said.
The BPOs are expected to impact 8 million people or 40 million families, and the enabler for all this is enterpreneurship, he added.
A lot of wealth creation has happened as the Indian IT industry took giant strides and passed through several revolutions to reach this point.
"Fifteen per cent of Bombay Stock Exchange(BSE`s) market cap is of IT companies," Desai said, adding "We have created wealth for the shareholders."
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rvk41...
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Admitting that the country’s IT sector cannot be immune to the global crisis, Bangalore-headquartered Infosys Technologies Co-Chairman, Mr Nandan M. Nilekani, said on Sunday that the tech sector would see a slowdown in the growth rates witnessed in the last four-five years. The IT industry is, however, resilient enough to deal with challenges and will continue to grow and recruit, the Infosys honcho added.
Global challenges
“The Indian tech sector will also face the same set of global challenges, but the sector will continue to grow….It will not be the same growth rates seen in the last four-five years. But the sector will continue to create jobs,” Mr Nilekani said at the India Economic Summit organised by the CII here.
Mr Nilekani pointed out that Infosys had already revised its guidance for the current fiscal.
Last month, Infosys set a sombre mood for the Q2 earnings season when it lowered its dollar revenue guidance for FY09 by six percentage points. It now expects revenue to be between $4.72-4.81 billion.
“There is a global scenario which is unprecedented and it will have an impact on everyone. But the IT industry has demonstrated time and again that it is resilient enough to deal with these challenges. We had a similar situation earlier in 2001, but we were able to not only get out of that but to also take advantage of that. I am sure that companies are following the right strategies to wait for the situation to subside and then take advantage of the next cycle of growth,” he added, but declined to comment on specific numbers.
Nasscom had initially projected a 21-24 per cent growth for the current financial year, but the software association has now stated that the industry may see slower growth rates during the second half (against the year-ago period), in the wake of the global financial crisis. Nasscom will complete the ‘review process’ of the FY09 export growth targets, sometime next month.
Recruitments
Asked if the software industry would achieve the targets set for FY09, Mr Nilekani said, “For numbers you must talk to Nasscom, but all I can say is that there will be a slowdown, which is understandable given the crisis. But companies will continue to recruit…We are going to go ahead with the recruitments.”
After years of posting scorching growth rates, the frontline IT companies, last month, ended up projecting modest revenue growth for the third quarter ending December 31, 2008. It was ditto for the current fiscal, as delay in decision-making and ramp-ups, and pressure on discretionary spends hurt business sentiments.
Earlier today, while offering his perspective on India’s past, present and future from his forthcoming book ‘Imagining India: Ideas for the new century’, Mr Nilekani said that his book dealt with 18 ideas clubbed under four heads. “These include ideas that have arrived (attitude towards people, entrepreneurs, technology, globalisation and even English language); Ideas that are agreed upon but have not been implemented (primary education, infrastructure and urbanisation); Ideas of ideology that we argue about (higher education and labour reforms), and Ideas that we need to anticipate,” he pointed out. The book would be released in India on November 24.
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Large Indian software exporters have begun hedging business risks by making their balance sheets more liquid, preferring to hold a bulk of their cash reserves in bank deposits.
Such a liquid balance sheet would help these exporters meet any contingencies as business outlook deteriorates in the economic crisis-hit large markets — the US and Europe.
Indian IT vendors are facing uncertainty on the business front as customers in US and Europe have delayed their decisions on technology investments in view of the current market conditions.
As of September-end, the cumulative cash balances of top five vendors — TCS, Infosys Technologies, Wipro, Satyam and HCL Technologies — have grown by over a fifth over the past four quarters.
Infosys, followed by Satyam, leads the pack in terms of holding bulk of the cash in bank deposits, while the country’s largest exporter, TCS, holds a larger portion of its cash in mutual funds.
“It could be a tactical decision for these companies to hold their cash in deposits,” said Mr Harit Shah, equity analyst at Angel Broking Ltd. “Besides providing good returns, deposits provide a safety net in the current deteriorating environment,” Mr Shah said.
Cash reserves
Infosys has standard policy of maintaining cash reserves to cover a year’s expenditure. The company has redeemed its small investments in mutual funds about two-three quarters ago.
“Our entire 100 per cent cash is held in bank deposits because we feel it is much safer,” said Mr V. Balakrishnan, Chief Financial Officer, Infosys. “Cash is god, respect it,” Mr Balakrishnan said.
Besides helping these vendors to meet their expenses, mainly the employee wages, large cash deposits would equip them to pursue inorganic growth options in the current market where the valuations are at a low, Mr Shah said. Traditionally, the IT exporters have a liquid balance sheet because of the high-cash generating business.
Early this week, Satyam acquired Motorola’s captive software development centre in Malaysia. “We expect to see more such acquisitions happening in future,” Mr Shah said.
Like Infosys, Satyam has also placed all its liquid funds in bank deposits. “We constantly evaluate our strategy on utilisation of liquid fund positions. There are many options in front of us such as acquisitions, buy back and special dividends,” said Mr Srinivas Vadlamani, Chief Financial Officer at Satyam. “While our emphasis would be to invest in growth, organic and inorganic, we are not closed to any options,” he added.
TCS, Wipro and HCL Tech had a higher share of their reserves parked in mutual funds and treasury investments as of September 30, 2008. TCS had Rs 2,702 crore in mutual funds, while Wipro had invested Rs 3,956 crore in MMFs. HCL Tech had Rs 2,303 crore in treasury investments.
It could not be ascertained as to whether any of these three firms had divested from its mutual fund and other treasury investments in the past few weeks.
Wipro, which also had a $700 million debt on its balance sheet, is looking to conserve cash to fuel its growth initiatives.
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attn udayan mukkerjhi and the cnbc team
take this stock kpit cummins can you ever get a gem of a stock at a better price
it went down because of its 89 cr mtm losses but those losses are reduced to around 35 cr now and its a notional loss
now lets talk about kpit cummins fundamentals
cummins is it parent company it gets 40% business from cummins cummins is the largest diesel engine manufacturer in thw world
kpit cummins has a very good proffessional management
they have their own properties in pune
5000 eople work for it
its equity is very small 15 cr
turnover expected at 1000cr in yearend 2010
what more can you ask for
in these difficult times cant an investor spare rs31000 fror 2 yrs
and if at all the market recovers in a year and then goes up the next year dont you think a target of rs 150 is not achievable tell me what company can you get better returns
this share is for gain and no pain
i may have shares in kpit but then i have been in the market for 22yrs infosys was just like this scrip 10yrs back look at it today...
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November 10, 2008, 1:12 pm
For My money this is another sector which will go the real estate way.
Reuters
China Solar Companies Reportedly Slowing ProductionPosted by Eric SavitzThe China-based solar cell and module manufacturers are slowing down production in anticipation of slowing demand and falling prices, according to Wedge MKI, the Asia-based research arm of investment research boutique Wedge Partners. In a research note this morning, Wedge provided a rundown on the moves some of the companies in the industry are making in response to the rapidly shifting economic conditions, including much tighter credit markets, falling module and polysilicon prices and a sharp appreciation in the dollar. ...
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With business from the US and Europe expected to decrease due to the ongoing financial turmoil, Indian information technology services (IT) firms are increasing their focus on the Asia Pacific region, particularly China, in an effort to tap the latter’s IT market and use it as a strategic base to enter the at least $100 billion (Rs4.76 trillion)-a-year Japanese IT market.
Business from the US and Europe together account for between 80% and 95% of revenues of the top five Indian IT services firms, Tata Consultancy Services Ltd or TCS, Infosys Technologies Ltd, Wipro Ltd, Satyam Computer Services Ltd and HCL Technologies Ltd.
“This crisis provides the right opportunity for Indian IT companies to try and gain more traction in the Asia Pacific region, especially in big markets like China and Japan,” said industry lobby group National Association of Software and Services Companies (Nasscom)’ president Som Mittal. The association estimates the Japanese IT services market at $108 billion, and India’s share at $1-1.5 billion. Around 8-10% of this work is offshored, with at least half of that going to China.
Market research firm IDC estimates the Chinese IT services market to reach at least $55 billion by 2010.
TCS says the company’s revenues from its Chinese operations will grow by around 45% in the next two years.
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rvk41...
Nortel (latest) Crash
Posted by :
BhattTracked by: 0 Boarder
Published on FierceVoIP (http://www.fiercevoip.com)
Nortel`s (latest) crash
By doug
Created 11/10/2008 - 11:47am
How fast hope crumbles.
In June, Nortel was painting a rosy picture at its user conference [1]. Nortel CEO and President Mike Zafirovski said the business was back on track and on the right trajectory for continued growth and improvements. According to Mr. Z, two years of transformation had taken root and yielded earnings, a better cost structure, and rebuilt leadership and its employee`s faith in the company.
Today, about six months later, Nortel posted its biggest loss in seven years and is cutting back 1,300 jobs. The company posted a third quarter loss of $3.4 billion, including a $3.2 billion expense to write down the value of part of its business and deferred tax assets.
Nortel had a vision to move out of the hardware arena and become more software and applications orientated. In August, the company acquired Pingtel - now there`s a snake-bitten company if there ever was one - and 3D positional voice technology company DiamondWare. Things seemed to be looking up as the company leveraged its relationship with Microsoft to extend its presence in the unified communications workspace and presented a growth path for its optical networking gear from 40G to 100G. Things were looking up.
Instead, as a part of a further reorganization - OK, what did you tell me in June, Mr. Z? - to save $400 million next year, travel has been frozen, salary increases have been ended, and four executives are being shown the door.
Among the departing on January 1 are CTO/Blogger John Roese and Chief Marketing Officer Lauren Flaherty. Roese coined and popularized the term "hyperconnectivity" and was big on promoting UC, one of the few bright spots Nortel had. Now he`s working on his resume.
Will Mr. Z be next?
Compounding matters further, Nortel wants to unload its Metro Ethernet division, but everyone knows it and the global market downturn has reportedly driven the potential price in half.
Will Nortel survive as an independent company? It`s hard to say, but the odds today don`t look too good.
- Doug [2]
--------------------------------------------------------------------------------
Source URL:
http://www.fiercevoip.com/story/nortels-crash/2008-11-10
Links:
[1] http://www.fiercevoip.com/story/nortel-s-return-doom/2008-06-03
[2] mailto:doug@fiercemarkets.com
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Published on Tue, Nov 11, 2008 at 12:39 , Updated at Tue, Nov 11, 2008 at 13:05
Source : moneycontrol.com
KRChoksey has maintained its buy rating on Wipro with a price target of Rs 338 in its October, 22 2008. "Its revenue increased 8.3% q-o-q and 37.4% y-o-y to Rs 6,535 crore, driven mainly by 5.9% depreciation of the rupee over last quarter. The IT Services revenue grew 4.0% q-o-q and 29.4% y-o-y to USD 1,110 million, ahead of its guidance of USD 1,089 million. Despite muted operating performance, Wipro’s net profit jumped 8.1% q-o-q to Rs 1,136 crore, mainly on account of higher non-operating income, lower interest outlay and lower forex losses as compared to the previous quarter. At the CMP of Rs 279, Wipro is trading at 11.2x its TTM earrings and 10.6x FY09E EPS of Rs 26.4. We maintain a buy on the stock with a target price of Rs 338," says KRChoksey`s research report.
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Five Reasons Obama`s Victory Will Boost Tech Sales
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Five Reasons Obama`s Victory Will Boost Tech Sales
By Craig Zarley, ChannelWeb
11:40 AM EST Wed. Nov. 05, 2008
Barack Obama`s historic win in Tuesday`s presidential election signals a new era for how information technology is perceived and implemented in the federal government. Here are five reasons federal government solution providers should feel upbeat about technology sales in 2009 and beyond.
1. Obama Knows How To Leverage Technology To Win
Obama will be the first president who gets it when it comes to leveraging technology to force change. Not only did the Obama campaign use the Web to raise an unprecedented amount of money, the Internet served as the tool to energize and organize thousands of volunteers.
2. Obama Will Use Technology To Transform How Government Works
It`s all but certain that the Obama administration, which demonstrated how technology can be a game-changer in the electoral process, will now deploy technology to transform how government works. From clerical workers in the trenches to top managers overseeing big budgets and organizations, expect big changes in how government uses technology to be more efficient and provide more services to citizens. There is a big opportunity for solution providers that can deliver solutions to make government more cost-effective. The emphasis going forward will be on technical solutions that reduce costs and improve services.
3. Green IT Will Become A Priority With Obama`s Support
Green IT is no longer a political imperative, but an economic one. Consolidation, virtualization and more energy-efficient systems such as blades and thin clients will be the order of the day because those technologies dramatically cut energy costs and yield quick returns on investment. Saving energy consumption with green IT systems and processes will fit nicely into Obama`s commitment to tackle global warming.
4. Antiquated Technology That Doesn`t Work Will Be Dumped
Many legacy systems cost too much to operate, aren`t efficient and are often impossible to maintain. A president who understands how standardized, inexpensive and readily available technology can change the world won`t tolerate ones that drag it down.
5. Obama Will Be The First Internet-Savvy President
We can`t emphasize how important this will be in the future. Obama mobilized a grass-roots army of contributors and volunteers to change American politics. Why stop there? Talk about a foreign policy agenda. The internet is a global force that breaks down borders, and a president that understands its power and knows how to use it can`t help but bring the world closer together. Any technology solution that can help speed this task will gain quick favor in an Obama-led administration. ...
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The market is heading higher,and thereafter expect a major crash.India GDP is going to shrink in the coming years .IF outsourcing is curtailed 10 billion ruppes per annum will be shaved off from India .And the result is GDP will be knocked off by 2%.That means going into 2009 our GDP figures pegged at 6.1% can come to 4.1%!!! Market is going to move to below 7800 ,theres no doublt about that .Reliance and Infosys will take the index there.Be extremely careful of Technology.Almost all funds and FIIs are heavy weight in technology.A sell off here,similar to what happened in real estate, is going to happen.THe tech stocks are going to be available at less than half its value in a short time .Avoid any kind of bottom fishing in technology .......
STPI will be extended by 5 years
Posted by : IT_BullsTracked by: 0 Boarder
Business Standard - Tech World - IT and ITES:
NASCOMM is trying to push for STPI extension by 5 more years.
In its bid to salvage small and medium IT companies, National Association of Software and Service Companies (NASSCOM) will be seeking a five year extension on Software Technology Parks of India (STPI) scheme. The IT sector body is planning to apply for the extension after the elections.
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“We believe the small and medium IT companies should get equal benefits that the large companies will get in special economic zones (SEZs). One year extension is not going to suffice for these companies. We are hopeful we will get a five year extension under the new government after the elections,” said Ganesh Natarajan, chairman of NASSCOM and global CEO of Zensar Technologies Ltd., during a press conference at Nirma Institute of Management here.
Talking about the effect of economic slowdown on the IT sector, Natarajan said that while the year ahead will witness job creation, the growth will not be as high as last year. “The economic slowdown will not result in a negative effect on job creation. Of course, the growth will be not as high as last year. Also, the wage hike in the sector will also be around 9-10 per cent only, as compared to 15 per cent last year,” he added.
According to Natarajan, with the financial meltdown in the US markets, the focus will shift to other emerging markets. “Japan, Korea, China and Africa are some other emerging markets where the focus will shift in the wake of lack of business from the US. Currently, Indian firms have around 60 per cent business dependence on the US which needs to come down to around 40 per cent. Indian firms should look for fresh markets now,” said Natarajan.
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STPI extended by 5 years
Posted by : IT_BullsTracked by: 0 Boarder
Times of India Infotech: Karnataka to get more IT Parks
Karnataka Government would shortly set up software technology parks and incubation centres with better connectivity and IT infrastructu
re in the district headquarters towns of Gulbarga, Belgaum and Shimoga, according to State IT Minister Katta Subramanya Naidu.
...
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India expects to earn 40-50 billion rupees ($840 million to $1 billion) in revenues annually from a higher spectrum fee to be levied on mobile telecoms firms, Telecom Minister said....
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Beware of Obama-related malware
The attackers were directing recipients to click on a link to view a video showing an interview with the advisors to the US President-elect
Mr Obama or view a portion of his acceptance speech
Coimbatore, Nov. 6 While people across the globe were watching the happenings in the US – Mr Barack Obama’s victory as the 44th US President and the crowd waiting in awe to watch his acceptance speech live, cyber criminals sought to capitalise the moment with mass malicious email campaign.
Within seven hours of Mr Obama’s acceptance speech, Websense Security Labs detected over 25,000 spam mails doing the round. “There were many variations of the attack and the number of emails were growing in thousands every hour,” Mr Surinder Singh, Director (SAARC), Websense Inc, told Business Line.
The attackers were directing recipients to click on a link to view a video showing an interview with the advisors to the US President-elect Mr Obama or view a portion of his acceptance speech. Clicking on the link directed users to a malicious Web site infected with information-stealing malware.
In some variations of the email attack, the cyber criminals used renowned publishing names such as ‘Time Magazine’ to encourage users click on the links. Some attacks contained links to a file ‘BarackObama.exe’, which was hosted on a compromised travel site.
“The file basically is an information-stealing Trojan Horse downloader. Upon execution, files called ‘system.exe’ and ‘firewall.exe’ are dropped into the victim’s system directory and a phishing kit is unpacked locally, dropping files bound to startup,” he explained.
Asked from where the attack emanated, he said “we are still tracking. To conduct a fall in the US, attackers use a server hosted else where, say Russia or some other far off land.”
The survey findings show that 60 per cent of the top 100 most popular Web sites have either hosted or been involved in malicious activity in the first half of 2008 and 87 per cent of email messages were spam.
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In reply to:
Obama wins US elections is it good news for Indian IT cos?
Posted by : Guest
i feel so sympathetic for the person who posted this. these speechs and stetenents are written by some specialists and just read by Obama to please the ocassion 
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Obama is elected to look after the benefits of americn citizens,now the US is facing unemplyment problem.... so,they badly need their jobs in every segment.... naturally indian IT companies which are enjoying so far in america will have to vacate their places.... all good days have gone for indian IT sevices companies which are mostly depending on america.......
In reply to:
Obama wins US elections is it good news for Indian IT cos?
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