Indian Infotech companies on shopping spree - No credit, all cash!

Entities Mentioned

• Infosys
• Citibank
• Lehman Brothers
• Sarbanes Oxley

1. Nasscom forecasted a 21-24% revenue growth for IT industry till April 2009. This is valued at $50 billion. Not the expected 30% growth, which the industry saw for the past 3 years. I think the final figure would settle down at 20%. Satyam has fired 4500 employees and the same news is expected from other companies. BPO companies are going easy on the hiring part.
   
   Reading this should you be worried? If you said yes then read on.
   
   Infotech is eyeing a $40 billion dollar acquisition in Germany. Satyam has 20000 crores for acquisitions. Satyam and TCS have ... (Read Full Article)
   
   

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