Stocks of several major Indian software firms including Satyam, Infosys, Wipro, Tata Consultancy Services and Patni have taken a severe beating this year and are currently trading close to their 52-week lows reflecting serious investor concerns about the future growth prospects.
Take a look at how the stocks of some prominent Indian software companies have fared this year in the below table:
Indian newspapers have also been rife lately with reports on layoffs at the big Indian IT firms like Satyam.
With merger/collapse of major financial institutions on Wall Street and no let-up in the overall bad economic news emanating out of the U.S., a major export destination for several of the top Indian software firms, the stock prices of these Indian IT bellwethers could drop further.
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Indian IT Stocks Walloped in 2008 added by SearchIndia.com on
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I am really concerned about the stock market and how Indian companies are doing.
Do they have the ability to come up at equal levels of the US programmers? I heard that some hollywood animation projects are given to Indian companies for completion work. What’s the real fact behind this?
SearchIndia.com Responds:
You write above: Do they have the ability to come up at equal levels of the US programmers?
We doubt it. George Lucas’ lab, Pixar et al are so far ahead in the graphics, animation game.
You write above: I heard that some hollywood animation projects are given to Indian companies for completion work
Sure, they may outsource some low-level work to the coolies.