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Tech Mahindra: Forex gains
The September 2009 quarter results of leading IT players suggest that the global telecom industry is not out of the woods. Indicatively, Infosys and TCS‘ telecom segments’ share in overall revenues posted a decline of 60-70 bps sequentially — even on an absolute basis, their telecom-vertical revenues were lower sequentially. Given the muted outlook for the telecom sector, the topline and operating performance of Tech Mahindra, which derives 60 per cent from Europe and about 50 per cent from its major client, British Telecom (BT), is reasonably good.

Aban Offshore repays bonds worth Rs 800 cr
Offshore drilling services provider Aban Offshore today said it has repaid bonds worth Rs 800 crore along with accrued interest.

News of the day

Crisis unlikely to impact Indian IT vendors
The tremors from the Dubai World crisis are unlikely to be felt by Indian information technology (IT) service providers, since they do not have a major exposure to the market in that region.
Online Business

PM may discuss freeing auto fuel prices on Jan 13

Prime Minister Manmohan Singh may deliberate on freeing auto fuel prices when he reviews the financial health of state-run oil firms with Finance Minister Pranab Mukherjee and Oil Minister Murli Deora on January 13. Planning Commission Deputy Chairman Montek Singh Ahluwalia and former Planning Commission member Kirit S Parikh, who heads an expert committee on fuel pricing, may join the deliberations, official sources said.


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