Indian IT trioka fit for Buffett's portfolio: S&P

NEW DELHI: The world's greatest investor Warren Buffett may have shied away from putting his money in Indian companies so far, but those fulfilling his investment criteria include at least three companies based here -- namely Infosys, Wipro and Satyam Computer.

Standard and Poor's, one of the world's biggest investment services providers that compiles a list of stocks meeting the legendary investor's appetite twice a year, has named the three of the biggest names in Indian IT space in the latest model portfolio.

The American Depositary Receipts of the three Indian IT giants have been named alongside global giants Microsoft, Oracle, Ericsson, Cisco Systems, Diageo, China Mobile and SAP.

Besides, the list also includes 3M Company, Altria, British American Tobacco, Mcgraw-Hill Company and Qualcomm.

Read more in The Economic Times

IT majors sit on growing cash mountain

The top five Indian IT firms have piled up net cash in excess of Rs 20,000cr.

Riding high on a booming economy and growing outsourcing opportunities, the top five Indian information technology players – Tata Consultancy Services, Infosys Technologies, Wipro, Satyam Computer Services and HCL Technologies – have piled up net cash in excess of Rs 20,000 crore.

The net cash figure jumped 31 per cent to Rs 21,148.42 crore in 2006-07 from Rs 16,151.36 crore in the previous year. Analysts estimate the figure to increase by 60 per cent in the current financial year.

The logic lies in the revenue and net profit numbers of these companies. For instance, the total turnover of the five companies for the 2006-07 financial year stands at Rs 57,397 crore — a jump of nearly 40 per cent over last fiscal’s number of Rs 41,033 crore. Read more at Business Standard

Satyam eyes 10 deal; each over $50 mn

NEW DELHI: In a reflection of Indian IT services companies gaining appetite for larger deals, the country’s fourth largest software exporter Satyam Computer Services is pursuing 10 large contracts of over $50 million each. “These are large deals and have a 9-12 month gestation period,” a source said.

The company had clinched four large deals of over $100 million last year. Satyam had won a contract from the North American division of Nissan Motor to maintain, support and enhance the application software portfolio. The services to be provided by Satyam covered business functions such as product development, sales and marketing across multiple manufacturing units and locations.

Reat more at Economic Times