Manasi's Feed
Aug 5, 2011

Implementation woes a glitch in govt IT projects

NEW DELHI/MUMBAI, Aug 5 (Reuters) – Inadequate planning,
shoddily maintained systems and lack of technological knowledge
are putting speed breakers on the Indian government’s ambitious
IT overhaul programme and are in turn becoming a major challenge
at the execution level.

For Indian IT companies, the government’s billion-rupee
projects are much needed as they are looking at ways to make
good for sagging overseas revnue. These projects hold the key to
retaining their profitability.

Jul 15, 2011

Higher tax, wages to dent mid-cap IT June-qtr profit

MUMBAI, July 15 (Reuters) – Indian mid-cap IT companies are
likely to see a modest revenue growth in April-June on stable
demand, but most would see profits and margins squeezed by wage
hikes and higher taxes.

The June quarter is typically stable for software services
firms after a seasonally weak Jan-March, when clients finalise
budgets for the next fiscal year, leading to a spurt in spending
in the next two quarters.

Jul 10, 2011

Hollywood inspires Bollywood to flirt with technology

By Manasi Phadke and Shilpa Jamkhandikar

MUMBAI (Reuters Life!) – Don’t look for an Indian “Avatar” anytime soon, but Bollywood, inspired by the success of blockbusters such as “Transformers,” is starting to take special effects seriously.

Up until five years ago, producers were unwilling to embrace technology, preferring instead to spend millions on expensive outdoor shoots and sets.

Jul 8, 2011

BSE Sensex gains for 3rd straight week; Reliance, miners slide

MUMBAI (Reuters) – The BSE Sensex ended higher for the third week in a row, but slipped more than 1 percent in choppy trade on Friday, dragged by losses in miners, Reliance Industries and financials and some profit booking.

Coal India, the world’s largest coal miner, plunged 8 percent, after a government source said a panel of ministers had approved a new bill calling for coal miners to share up to 26 percent of their profits with local communities.

Jul 8, 2011

Indian shares gain for 3rd straight week; Reliance, miners slide

MUMBAI, July 8 (Reuters) – Indian shares ended higher for
the third week in a row, but slipped more than 1 percent in
choppy trade on Friday, dragged by losses in miners, Reliance
Industries and financials and some profit booking.

Coal India , the world’s largest coal miner,
plunged 8 percent , after a government source said a
panel of ministers had approved a new bill calling for coal
miners to share up to 26 percent of their profits with local
communities.

Jul 7, 2011

BSE Sensex snaps 2-day losing streak on fund inflows

MUMBAI (Reuters) – The BSE Sensex closed up nearly 2 percent in firm trade on Thursday, snapping a two-straight session fall, on a broad rally triggered across sectors by stable foreign fund inflows.

Financials were among the top gainers, with State Bank of India (SBI) and ICICI Bank rising closing up 1.6 percent and 1.34 percent respectively.

Jul 7, 2011

India greenlights more FDI in radio, spectrum auction

MUMBAI, July 7 (Reuters) – India’s federal cabinet on
Thursday raised foreign direct investment in the radio sector to
26 percent from 20 percent, and greenlighted an auction of more
spectrum for radio to raise 17.33 billion rupees.

The news brought relief to media companies, many running
frequency modulated or FM radio operations in losses, and
investors cheered boosting shares of Entertainment Network India
Ltd and Reliance Broadcast Network Ltd .

Jul 7, 2011

Inspired by Hollywood, Bollywood flirts with technology

By Manasi Phadke and Shilpa Jamkhandikar

MUMBAI (Reuters Life!) – Don’t look for an Indian “Avatar” anytime soon, but Bollywood, inspired by the success of blockbusters such as “Transformers,” is starting to take special effects seriously.

Up until five years ago, producers were unwilling to embrace technology, preferring instead to spend millions on expensive outdoor shoots and sets.

Jun 30, 2011

Former chairman Soota halves MindTree stake at premium

MUMBAI (Reuters) – MindTree Ltd’s former chairman Ashok Soota, who resigned from the company earlier this year, has sold half of his stake in the mid-sized software firm at a 18.5 percent premium, sending the stock up 19 percent.

Soota sold 2.2 million shares, or a 5.5 percent stake, at 428 rupees each in a block deal, a premium of 18.5 percent to the stock’s close on Wednesday.

Jun 30, 2011

Former chairman halves MindTree stake at premium

MUMBAI, June 30 (Reuters) – MindTree Ltd’s former
chairman Ashok Soota, who resigned from the company earlier this
year, has sold half of his stake in the mid-sized software firm
at a 18.5 percent premium, sending the stock up 19 percent.

Soota sold 2.2 million shares, or a 5.5 percent stake, at
428 rupees each in a block deal, a premium of 18.5 percent to
the stock’s close on Wednesday.