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Indian shares seen starting flat, Maruti in focus

October 31st, 2011

Indian shares are seen starting flat on Monday as investors turn cautious after four straight sessions of gains ahead of key economic data, and weak sentiment in other Asian markets.

Shares in Maruti Suzuki , India’s top carmaker, will be in focus after it reported a more than halving of its quarterly net profit, wider than industry estimates.

Shares in software companies will also be in the spotlight after Wipro Ltd , India’s No. 3 software services exporter, beat street estimates with a 1 percent rise in quarterly profit, and forecast a 2 to 4.1 percent on quarter rise in its information technology services revenue this quarter.

The Indian government is expected to announce April-September fiscal deficit and September infrastructure output later in the day.

The MSCI’s broadest index of Asia Pacific shares outside Japan was down 0.9 percent by 0309 GMT, and South Korea’s Kospi was trading 0.4 percent lower while Japan’s Nikkei rose 0.5 percent.

The Nifty India stock futures traded in Singapore SINc2 were trading marginally higher, pointing to a flat opening for the Indian market.

On Friday, the main 30-share BSE index ended up nearly 3 percent to 17,804.80 points bolstered by gains in financials.

STOCKS TO WATCH

* Bharat Electronics after it posted a 20 percent rise in September quarter net profit.

* Redington (India) after the technology products distributor’s July-September net jumped 24.3 percent.

* BGR Energy Systems after the company said it received a notice from the Central Excise Department claiming additional service tax.

* Tata Global Beverages after the company’s September-quarter net profit grew 49 percent.

FACTORS TO WATCH * Indian rupee report * Indian bond report * Dollar hits 3-month high on yen as Tokyo steps in * Oil prices slip; G20 meeting eyed * Dollar spikes vs yen, Asian shares fall * Wall St, finishing flat, posts 4 weeks of gains * For closing rates of Indian ADRs (Reporting by Prashant Mehra and Kaustubh Kulkarni; Editing by Aradhana Aravindan)

ASIA-PACIFIC STOCK MARKETS: Pan-Asia…….. Japan……. S.Korea… S.E. Asia……. Hong Kong… Taiwan…. Australia/NZ…. India……. China…..

OTHER MARKETS: Wall Street …. Gold ……. Currency.. Eurostocks….. Oil …….. JP bonds… ADR Report ….. LME metals. US bonds.. Stocks News US.. Stocks News Europe

DIARIES & DATA: Indian Data Watch Asia earnings diary U.S. earnings diary European diary Indian diary Wall Street Week Ahead Eurostocks Week Ahead

Source:http://in.reuters.com/article/2011/10/31/india-markets-idINL4E7LV0HN20111031

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Posted in Software News

Tags: Indian Software

Chinese software park a threat to Indian IT

October 4th, 2011

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It is the fastest growing software park in China and people here claim that every second laptop being sold in the world today runs on a computer chip manufactured here.

And it could pose a major challenge to Indian information technology hubs and their premier position on the global IT map.

Tianfu Software Park (TSP), run on 35 sq km in Chengdu city in southewestern China, is developed by the Chinese government-owned Chengdu Tianfu Software Park (CTSP) Limited.

Christine Du, president of CTSP Ltd, said, “We can say now that every second laptop in the world sold now has a chip manufactured in our software park.”

Officially opened in 2005, TSP is now the fastest growing software park in China and is all set to double the pace of its growth over the next five years. In fact, Indian IT giant Wipro too has opened a centre here and according to the CTSP officials there are around 70 Indians working in this software park.

TSP already has 200 enterprises spread over a construction area of more than 1.3 million square metre with state-of-the-art facilities. “We are planning to expand this construction area to 2.2 million square metres over the period of next four to five years,” said Du.

TSP has been used to set up various facilities by 23 of the Fortune 500 companies including IBM, SAP, GE, Siemens and Ericsson. The reason for this massive influx of global IT giants is apparent as a visit to this software park shows. It has state-of-the-art infrastructure and some tax concessions too.

The TSP, unlike many of the Indian IT hubs that continue to grapple with infrastructure bottlenecks, provides cheap and comfortable housing at a cost that is six to eight times lower than Beijing and many other parts of China. To attract foreign talent and make employees of foreign companies comfortable, the CTSP has facilitated setting up of foreign kindergarten schools as well as international primary and secondary schools run on American curriculum in this city of 13 million residents.

The Chinese government has invested more than US$31.2 million annually over the last few years to develop this infrastructure and intends to increase this spending substantially further in future. TSP has a professional human resources centre, which provides full range of HR services, including recruitment, information and training. This centre has 12,000 sq m of public training venues and runs more than 1,000 cutting-edge courses training nearly 10,000 company employees annually.

The centre also runs an e-college, which has more than 6,000 students who are employees of companies set up here. It also manages an incubation centre and has so far directly attracted investment of US$18 million. At present the number of enterprises in TSP has crossed the mark of 200 and it includes many Chinese companies also.

The park has various clusters of business software, digital entertainment, telecommunications, business process outsourcing and back office service centres for providing support in domestic and international software and services. As a result of these efforts, within a span of five years, the annual revenue from only software industry in the TSP has increased from around US$3.2 billion in 2005 to around US$9.8 billion in 2009.

To attract investment and best of the talent, the corporate tax rate for units operating in this software park is merely 15 percent – 10 percent lower than the general corporate tax rate in China. “The rule applies to both domestic and international companies,” Thomas Tang, director of Chengdu High Tech zone, told IANS.

The TSP falls within the Chengdu hi-tech zone. “Also there are provisions for refund of the individual income tax paid by certain categories of employees depending on their salaries,” he added.

Source:http://timesofindia.indiatimes.com/tech/news/software-services/Chinese-software-park-a-threat-to-Indian-IT/articleshow/10216320.cms

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Posted in Software News

Tags: China Indian IT Software

Indian Equity Movers: Software Exporters, Electrotherm, GTL

September 15th, 2011

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Shares of the following companies had unusual moves in Indian trading. Stock symbols are in parentheses and prices are as of the 3:30 p.m. close in Mumbai.
The BSE India Sensitive Index, or Sensex, rose 1.5 percent to 16,709.60. The BSE200 Index added 1.2 percent to 2,066.29.
Software Exporters: Infosys Ltd. (INFO IN), the second- largest software exporter, paced gains among peers in Mumbai on speculation the rupee’s depreciation will make code writers from the South Asian nation more competitive. Infosys jumped 5.8 percent to 2,351.65 rupees. Larger rival Tata Consultancy Services Ltd. (TCS) climbed 2.2 percent to 1,015.1 rupees while Wipro Ltd. (WPRO) , the third-largest, rallied 4 percent to 342.4 rupees.
Electrotherm India Ltd. (ELT) advanced 17 percent to 142.9 rupees, the most since May 20, 2009. France’s Saint-Gobain Group is in talks to acquire the company’s pipes division, The Economic Times reported, citing Electrotherm’s Managing Director Shailesh Bhandari.
The estimated valuation of Electrotherm’s pipe division is likely to be about 3 billion rupees ($63 million) to 3.5 billion rupees, the newspaper said, citing unidentified people aware of the talks.
GTL Ltd. (GTS) : dropped 11 percent to 61.4 rupees, the most in a month. The maker of telecommunication equipment was removed from derivatives trading from Sept. 16, according to the BSE India’s website.
Ind Swift Ltd. (INSW) increased 7.1 percent to 33.95 rupees, its highest since Apr. 25. Ranbaxy Laboratories Ltd., India’s largest drugmaker, has started discussions with the company to source the raw material to make the low-cost version of Lipitor, the world’s top-selling drug, the Economic Times reported, citing N.R. Munjal, Ind Swift’s vice-chairman. Ranbaxy lost 1 percent to 484.15 rupees.
India Cement Ltd. (ICEM IN) gained 2.4 percent to 72.8 rupees, its highest in a week after Daiwa Securities Group Inc. rated the stock new buy citing expectations demand for the building material will increase over the next two to three years.
Tata Motors Ltd. (TTMT) advanced 2.1 percent to 142.5 rupees, the most in a week. The carmaker was rated new “buy” by Govindarajan Chellappa, an analyst at Jefferies Group Inc. Separately, Jaguar Land Rover is having “intense discussions” with a Chinese automaker about a potential partnership on manufacturing in the country, Chief Executive Officer Ralf Speth said yesterday. The company is also talking to other candidates, Speth said.

Source:http://www.bloomberg.com/news/2011-09-14/indian-equity-movers-software-exporters-electrotherm-gtl.html