Satyam finally got its new owner

After more than three months of confusion and speculation, Satyam finally got its new owner today in the form of Tech Mahindra, selected through a competitive bidding process. L&T and Cognizant-Wilbur Ross were the other two contenders in the fray for the beleaguered IT firm but Tech Mahindra out bid them with a comfortable margin.
Tech Mahindra (through its subsidiary Venturbay Consultants Pvt. Ltd.) will now pay Rs 58 per share to buy a 31% stake in Satyam through a preferential allotment. L&T and Cognizant-Wilbur Ross, on the other hand, had reportedly put in their bids at Rs 45.9 per share and Rs 20 per share respectively

Comments

Mountains of food stock goes waste : Another instance of government inefficiency!

Look at government inefficiency, food prices have galloped at an alarming rate over the last few months. Some blame it on the poor monsoons. Some blame it on hoarding by greedy middlemen. In my opinion, the government unknowingly itself is a massive hoarder. As per a report in a financial daily, the stock of rice and wheat in government granaries is way above the minimum requirement. Sadly, much of this excess stock is stored in the open. It either rots or feeds pests. In my view, this is a national shame. We cannot get the basics right in such a crucial area when food prices are spiraling out of control and millions of Indians still go hungry. Such stocks should be stored properly and released in small lots to stabilise prices.

Biyani looks at the bigger picture

It is important to look at the holistic picture and have an individual opinion rather than get swayed away by the public consensus. This is the view of the man who pioneered the retailing boom in India - Mr. Kishore Biyani, the founder of India’s largest retailing company - Pantaloon. In an article in the Wall street Journal, Mr. Biyani wrote, "Almost daily doses of bad news on television screens and newspapers have possibly done as much damage to the economy as the events on either side of the Atlantic." I completely agree with him. Mr. Biyani’s predicament is based on the fact that an overwhelming majority of Indian consumers are self-employed, who can neither get laid off nor can have pay cuts. Consider some statistics he has provided. The share of the national income represented by proprietor-run concerns and partnerships is 35%. The share of companies is around 15%, government around 25%, and agriculture around 25%. Combine agriculture and the self-employed in industry a...

Infosys kick started the March quarter and full year FY09 result season today on a mixed note

Infosys kick started the March quarter and full year FY09 result season today on a mixed note. Although its fourth quarter operating performance did not have much to be enthused about, the company managed to add 37 new clients and 1,772 employees (net) during this quarter. This goes to show the consistency in the company’s long term business prospects. While the full year profits grew by a healthy 29% YoY, the company announced an earnings guidance for FY10 that would be lower by 3% to 7% YoY as compared to FY09 EPS.

infotonic

Search This Blog