roobaroo

Okay, so what are Indian Firms Doing in the time when Global economic slowdown is on the charts. Well, we will find our own ways of messing up things indeed we are not involved in the crisis directly. Indeed, a big movement in Indian IT industry in these testing recession times.

So, the Maytas deal was to cover up for the fake inflated results as shown in the balance sheets. Brave and intelligent Move but with satyam shares proving to be a major holding in any share market dealers’ stacks of stocks. Rightly still, in this time when IT firms are moving towards drastic cost cutting and defensive approach to markets, shareholders suspicions made raju and his fellows to refrain from sealing the deal and then prevented them to get away clean with it. Worse still was the untimely banning of the World Bank to work for it on charges of corruption and unethical use of financial services.

This has now resulted in the tumbling down of Satyam Market shares from 170 to mere 70 now. Great!! Please correct me if I am wrong, the wrong stats in balance sheets were projected to avoid any merger situation and show that satyam is fairing well. It was a bluff projected to its shareholders. Now see where has it landed the company operating in 66 countries with about 150 Fortune 500 Companies.

So new question could be any takers for the 4th largest software exporter of the nation? IT majors don’t seem interested. I don’t have any friends there. Is Crisis heading India’s way? Is it a time for Panic among IT companies and share market people? Is it enough stuff to catch Indian Medias’ attention to divert from the India-Pak-US talk triangle? These are some questions that will be answered in the time to come.