The misfortune of the IT bellwether Satyam will enable top-notch IT leaders to touch high grounds, with Infosys keeping a firm stand among the top. Analysts believe that the firm's high reputation in high corporate governance and its U.S. listing will make it a better choice for customers.
However, the hitch to this could be Infosys' premium pricing, which some analysts said was 10-15 percent higher than Satyam's rates. This, along with a substantial customer overlap, could work in the favor of the number one IT exporter, TCS. The stocks of the Infosys shoot up by 1.7 percent after the confession of Ramalinga Raju, to end at Rs.1,187, while for Wipro and TCS it ended at Rs.243.30 and Rs.503.70. Even HCL's stocks slid by around 15 percent after the revealation, reports The Economic Times. "The senior management of Infosys has come out quite aggressively in the media on maintaining high corporate governance standards," pointed out Ascendia Consulting principal analyst Alok Shende.
Some analysts also pinpointed that there will not be only one vendor benefiting by the Satyam case. Witnessing the overlap of clients, TCS also holds a good chance of leveraging its current market position. General Electric (GE), General Motors and Citigroup are all clients of TCS as well as Satyam. Citigroup is also a client of Infosys but it is small. Infosys had stopped servicing GE because it was unwilling to compromise on its billing rates and provide services at the discounts GE was looking for.
Cognizant can also have an edge over Infosys if it emphasizes its U.S. domicile status, as opposed to Infosys which is domiciled in India. IBM and Accenture, which have a significant offshore presence, also hold a good chance of being the biggest gainers. "We consider them of tier-1 caliber in terms of offshore capabilities, but their size, stature, brand, global reputation, and high-level client relationships (particularly ACN) differentiate them, in our view, and will make them more attractive to worried clients than even the tier-1 offshore firms like INFY and WIT (Wipro)," said an analyst at Stifel Nicolaus. www.uniqueinstitutes.org
Monday, January 12, 2009
BHARTI MONTE DEL
A joint venture between telecom major Bharti and Del Monte India Monday said it had emerged as the largest fresh baby corn exporter in the country.
To mark the occasion, a consignment of fresh baby corns was flagged off at Ladhowal village near here Monday by Punjab's Chief Secretary Ramesh Inder Singh and Bharti Enterprises vice chairman and managing director Rakesh Bharti Mittal.
"Bharti-Del Monte India is proud to be the largest exporter of fresh baby corn in the country. This achievement is a tribute to the entire farming community of Punjab, whose dedicated efforts have made us achieve this tremendous feat," Mittal said at the Bharti farm here.
"This financial year, we have exported 200 tonnes of baby corns. We have already invested Rs.50 crore (Rs.500 million) in Punjab and we will be processing 200 tonnes of food products here," Mittal said.
He said that the company's products were being sought by leading international retailers such as Sainsbury, ASDA, Morrison and Sommerfield. The company has a cold storage capacity of 500 tonnes at the farm.
Bharti-Del Monte is engaged in collaborative farming with Punjab farmers in over 1,000 acres of land. Its own farm, FieldFresh ACE, spread over 300 acres, is an integrated research and development facility, focusing on crop and variety trials, progressive farming techniques and identification and adoption of appropriate technologies for better crop production.
Chief Secretary Singh said the company should engage further with Punjab farmers so that everyone could benefit from the venture.
BEST SITE www.uniqueinstitutes.org
To mark the occasion, a consignment of fresh baby corns was flagged off at Ladhowal village near here Monday by Punjab's Chief Secretary Ramesh Inder Singh and Bharti Enterprises vice chairman and managing director Rakesh Bharti Mittal.
"Bharti-Del Monte India is proud to be the largest exporter of fresh baby corn in the country. This achievement is a tribute to the entire farming community of Punjab, whose dedicated efforts have made us achieve this tremendous feat," Mittal said at the Bharti farm here.
"This financial year, we have exported 200 tonnes of baby corns. We have already invested Rs.50 crore (Rs.500 million) in Punjab and we will be processing 200 tonnes of food products here," Mittal said.
He said that the company's products were being sought by leading international retailers such as Sainsbury, ASDA, Morrison and Sommerfield. The company has a cold storage capacity of 500 tonnes at the farm.
Bharti-Del Monte is engaged in collaborative farming with Punjab farmers in over 1,000 acres of land. Its own farm, FieldFresh ACE, spread over 300 acres, is an integrated research and development facility, focusing on crop and variety trials, progressive farming techniques and identification and adoption of appropriate technologies for better crop production.
Chief Secretary Singh said the company should engage further with Punjab farmers so that everyone could benefit from the venture.
BEST SITE www.uniqueinstitutes.org
VIJAY MALYA KINGFISHERS
India's liquor baron Vijay Mallya, chairman and managing director of the UB Group, said here Monday his Kingfisher Airlines would announce attractive tour packages to boost Kashmir tourism in 2009.
"I am excited at Omar Abdullah becoming the chief minister of Jammu and Kashmir. My relationship with the Abdullahs is spread over three generations and I think better days are ahead for the people of the state under his young and dynamic leadership," Mallya told reporters.
He said the Srinagar airport had now all the facilities of an international airport and the time had come for direct international flights from here.
"My Kingfisher Airlines will announce additional flight schedules to increase connectivity between the three (Ladakh, Kashmir and Jammu) regions of the state and the rest of the country," he said.
Mallya said the Royal Springs Golf course in Srinagar was one of the best in the world.
"Undoubtedly, the Royal Springs Golf course in Srinagar is one of the best in the world and it can do a lot to make Kashmir an international golf destination," he said.
He said the north Kashmir ski resort of Gulmarg had one of the best slopes in the world.
"I have done skiing at almost all the international ski resorts of the world, and I say it with confidence that Gulmarg has some of the best ski slopes in the world."
He said his company would approach the state government to re-start production of hops in the Kashmir Valley which had been stopped because of the adverse security situation here. www.uniqueinstitutes.org
"I am excited at Omar Abdullah becoming the chief minister of Jammu and Kashmir. My relationship with the Abdullahs is spread over three generations and I think better days are ahead for the people of the state under his young and dynamic leadership," Mallya told reporters.
He said the Srinagar airport had now all the facilities of an international airport and the time had come for direct international flights from here.
"My Kingfisher Airlines will announce additional flight schedules to increase connectivity between the three (Ladakh, Kashmir and Jammu) regions of the state and the rest of the country," he said.
Mallya said the Royal Springs Golf course in Srinagar was one of the best in the world.
"Undoubtedly, the Royal Springs Golf course in Srinagar is one of the best in the world and it can do a lot to make Kashmir an international golf destination," he said.
He said the north Kashmir ski resort of Gulmarg had one of the best slopes in the world.
"I have done skiing at almost all the international ski resorts of the world, and I say it with confidence that Gulmarg has some of the best ski slopes in the world."
He said his company would approach the state government to re-start production of hops in the Kashmir Valley which had been stopped because of the adverse security situation here. www.uniqueinstitutes.org
WIPRO
the World Bank banned Satyam Computer Service from receiving any direct contact from it. But an announcement by the World Bank on its website, now reveals that apart from Satyam, Wipro and Megasoft Consultants have been deemed ineligible to receive any contract from the bank.
The World Bank on Sunday said it plans to publish in the future the names of all companies it bans from doing work with it. "This change was made in the interest of fairness and transparency," the Washington-based bank said.
Both Wipro and Ravindra Sannareddy founded IT Service provider Megasoft Consultants, which is an associate company of BSE listed Megasoft, have been barred for four years since 2007. The World Bank Group made public the names of all companies that have been debarred from receiving direct contracts from the Bank under its corporate procurement program, reported The Economic Times.
While Wipro technologies was banned for providing improper benefits to Bank staff, Megasoft Consultants was banned for participating in a joint venture with bank staff while also conducting business with the Bank. News about the ban of Satyam Computer Services for eight years for giving improper benefits to bank staff was out in the last month.
As per reports the Bank has changed disclosure norms late 2006 which placed all the aforementioned companies under tech scanner in 2007. The Bank has also said it will publicly list the names of companies debarred from its corporate procurement on a regular basis henceforth.
courtsy www.siliconindia.com www.uniqueinstitutes.org
The World Bank on Sunday said it plans to publish in the future the names of all companies it bans from doing work with it. "This change was made in the interest of fairness and transparency," the Washington-based bank said.
Both Wipro and Ravindra Sannareddy founded IT Service provider Megasoft Consultants, which is an associate company of BSE listed Megasoft, have been barred for four years since 2007. The World Bank Group made public the names of all companies that have been debarred from receiving direct contracts from the Bank under its corporate procurement program, reported The Economic Times.
While Wipro technologies was banned for providing improper benefits to Bank staff, Megasoft Consultants was banned for participating in a joint venture with bank staff while also conducting business with the Bank. News about the ban of Satyam Computer Services for eight years for giving improper benefits to bank staff was out in the last month.
As per reports the Bank has changed disclosure norms late 2006 which placed all the aforementioned companies under tech scanner in 2007. The Bank has also said it will publicly list the names of companies debarred from its corporate procurement on a regular basis henceforth.
courtsy www.siliconindia.com www.uniqueinstitutes.org
Michelin
Michelin set to kick start work on plant near Chennai in February
State-owned promotional agency, SIPCOT, is in the final stages of granting the in-principle clearance to Michelin, one of the world’s largest tyre makers, for setting up a mega project near Chennai and the company is likely to start construction next month.
The state government has alienated 1,122 acres at Thervaikandikai in Thiruvallur district. SIPCOT has earmarked 290 acres for the tyre major, its MD N Govindan told ET on the sidelines of the three-day Pravasi Bharatiya Divas 2009. The deal will mark Michelin’s foray into the Indian market.
The MNC had earlier announced plans to set up operations in Maharashtra. It has been servicing the Indian truck market with imported tyres and was a technical and financial partner for Indian tyre major MRF at one point.
The plant site is near the NH5 Chennai-Kolkata highway. The company identified this location in November-December as it is situated within 40 km of the city and is near the sea port, he said.
The investment by Michelin is expected to give a fresh impetus to industrialisation in the region. There are already a large number of units at the Gummidipoondi complex, besides Thiruvallur and Arkonam.
Michelin has more than 1.15 lakh employees and sales organizations across more than 170 countries, including India. It designs, manufactures and sells tyres for airplanes, automobiles, bicycles, earthmovers, farm equipment, heavy-duty trucks, motorcycles and the US space shuttle at 69 production sites, situated at 19 countries across five continents.
The company also publishes travel guides, hotel and restaurant guides, maps and road atlases and offers electronic mobility support services, on ViaMichelin.com. Moreover, it pursues research and innovation development at technology centres in Europe, USA and Japan, according to its website.
Courtesy: http://economictimes.indiatimes.com/
www.uniqueinstitutes.org
State-owned promotional agency, SIPCOT, is in the final stages of granting the in-principle clearance to Michelin, one of the world’s largest tyre makers, for setting up a mega project near Chennai and the company is likely to start construction next month.
The state government has alienated 1,122 acres at Thervaikandikai in Thiruvallur district. SIPCOT has earmarked 290 acres for the tyre major, its MD N Govindan told ET on the sidelines of the three-day Pravasi Bharatiya Divas 2009. The deal will mark Michelin’s foray into the Indian market.
The MNC had earlier announced plans to set up operations in Maharashtra. It has been servicing the Indian truck market with imported tyres and was a technical and financial partner for Indian tyre major MRF at one point.
The plant site is near the NH5 Chennai-Kolkata highway. The company identified this location in November-December as it is situated within 40 km of the city and is near the sea port, he said.
The investment by Michelin is expected to give a fresh impetus to industrialisation in the region. There are already a large number of units at the Gummidipoondi complex, besides Thiruvallur and Arkonam.
Michelin has more than 1.15 lakh employees and sales organizations across more than 170 countries, including India. It designs, manufactures and sells tyres for airplanes, automobiles, bicycles, earthmovers, farm equipment, heavy-duty trucks, motorcycles and the US space shuttle at 69 production sites, situated at 19 countries across five continents.
The company also publishes travel guides, hotel and restaurant guides, maps and road atlases and offers electronic mobility support services, on ViaMichelin.com. Moreover, it pursues research and innovation development at technology centres in Europe, USA and Japan, according to its website.
Courtesy: http://economictimes.indiatimes.com/
www.uniqueinstitutes.org
PUNJ LLYOD
Punj Lloyd Group, an engineering, procurement and construction (EPC) conglomerate, announced four contract-wins including Group’s first infrastructure project in Libya and a prestigious oil & gas contract from Cairn Energy India Limited.
“Punj Lloyd Group is proud to win 4 new contracts, demonstrating the reputation of the Group in executing unique and challenging projects not just in India but also abroad. With our expertise and skilled management, we are confident of timely execution of these projects”, said Mr Atul Punj, Chairman, Punj Lloyd Group.
Project awarded by Cairn Energy India Limited: Valued at Rs 104.56 crores (US$ 21.55 million), the new contract from Cairn Energy would include engineering, procurement and construction of a pipeline in a stretch of 56.52 km. The scope of work for this contract would include laying a crude oil heated and insulated pipeline and a gas pipeline in section II for the Mangla Development Project, in Gujarat.
This project is unique because the waxy Rajasthan crude oil which solidifies at normal temperature has to be continuously heated as it moves through the pipeline. The 8″ dia gas pipeline has to be laid in the same trench as the 24″ dia crude oil pipeline. Along with the laying of the pipeline, Punj Lloyd will also construct 3 generator heating stations to heat the crude oil and the gas from the 8″ line will be used to run the generators. The project is scheduled for completion in a challenging period of seven months.
Courtesy: http://economictimes.indiatimes.com/
for job www.uniqueinstitutes.org
“Punj Lloyd Group is proud to win 4 new contracts, demonstrating the reputation of the Group in executing unique and challenging projects not just in India but also abroad. With our expertise and skilled management, we are confident of timely execution of these projects”, said Mr Atul Punj, Chairman, Punj Lloyd Group.
Project awarded by Cairn Energy India Limited: Valued at Rs 104.56 crores (US$ 21.55 million), the new contract from Cairn Energy would include engineering, procurement and construction of a pipeline in a stretch of 56.52 km. The scope of work for this contract would include laying a crude oil heated and insulated pipeline and a gas pipeline in section II for the Mangla Development Project, in Gujarat.
This project is unique because the waxy Rajasthan crude oil which solidifies at normal temperature has to be continuously heated as it moves through the pipeline. The 8″ dia gas pipeline has to be laid in the same trench as the 24″ dia crude oil pipeline. Along with the laying of the pipeline, Punj Lloyd will also construct 3 generator heating stations to heat the crude oil and the gas from the 8″ line will be used to run the generators. The project is scheduled for completion in a challenging period of seven months.
Courtesy: http://economictimes.indiatimes.com/
for job www.uniqueinstitutes.org
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