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Thursday,
April 12, 2001, Chandigarh, India  
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Infosys signals slowdown ahead
Cheaper mobile phones in Punjab by December
BPL again sells 1 million CTV sets 1,065 SBI employees opt for VRS |
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Software jobs for kids who failed in school Intellistudent to set
up 4 centres in city Easy-to-cook rice soon SM Telesys to offer
call centre solutions Amend industrial, trade union Acts
Zee a
bear's choice
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Infosys signals slowdown ahead Mumbai/Bangalore, April 11 Infosys, with an army of about 9,000 software engineers and a raft of Fortune 500 clients, reported net profit for the January-March quarter soared 94.5 per cent from a year earlier to Rs1.82 billion ($39 million). Revenue doubled to Rs 5.72 billion. The profit figure was just a shade below the consensus forecast of Rs1.85 billion indicated by a Reuters poll of 12 brokerages. Still, Infosys shares plunged 8 per cent in initial reaction to the results, announced just before trading commenced, and slid further after company Chairman N.R. Narayana Murthy later predicted revenue growth will slow by two-thirds this year. "I expect revenues to grow by 30 per cent in the fiscal year 2001/02," Murthy told CNBC television. Managing Director Nandan Nilekani, appearing on the same programme, said he expected revenue growth of just 2 to 4 per cent in the current period to June, the first quarter of the year to March 2002. A slowdown in growth of that magnitude alarmed investors, who reacted by hammering Infosys's stock down Rs 616.90 to 3,238.8. Sell offers overwhelmed buy orders when trading was halted at any lower price after the shares had fallen the 16 percent limit, indicating the stock is prime to fall on Thursday. Infosys was only the second major Indian software company to post results for the past quarter. On Tuesday, Satyam Computer Services reported its profit soared 164 per cent in January-March from a year earlier, soundly beating market expectations. SUPER-CHARGED GROWTH Murthy and Nilekani indicated the super-charged growth rates which major software companies have posted the past several years are unsustainable due to the global slowdown in infotech spending, especially in the USA. North America accounted for about 74 percent of Infosys' total revenues in the third quarter. Analysts had previously warned about the effect on software service suppliers of slowing spending by global telecoms firms like Cisco, Nortel and Lucent, all customers which have helped Infosys attain dizzying growth. But suddenly, from triple-digit rates of growth, Infosys executives are now talking of one-digit growth. "I expect sequential growth in the next quarter (April-June) of 2 to 4 percent and revenues to be $123-125 million, and our revenue in fiscal 2001/02 to be $530-545 million," Nilekani said on CNBC. In the past year to March, Infosys' revenue more than doubled to Rs19.6 billion, while net profit surged 114 per cent to Rs6.29 billion .Nilekani said he expects earnings per share to stagnate in the wake of the anemic growth in sales. "We see total income of Rs5.8 to 5.9 billion for the quarter ending June 30," Nilekani said, citing a range little changed from Rs5.72 billion for the just completed January-March quarter. For the year to March 2002, Nilekani said total income would be Rs25 billion to 25.6 billion, up from Rs19.6 billion for the past year. He estimated earnings per share at Rs118 to 121, up from Rs94.76 this past year. Infosys' stock has fallen 43.2 per cent this year, compared with a 16.2 per cent decline by the benchmark 30-share Bombay index. The stock is trading at a price-earnings multiple of 34.2 to its results for the past year, and a PE of around 27 times to its forecast earnings per share of 118-121 rupees for the current year.
Reuters |
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Cheaper mobile phones in Punjab by December Sangrur, April 11 Talking to mediapersons here today, Mr G.S. Gill, General Manager (Telecom), Sangrur, who recently joined here, said global tenders had already been floated by BSNL. As many as 8,000 mobile phone connections would be provided in the district. There will be no difficulty in providing the connections as towers and other infrastructure are already available with BSNL. Spice is providing mobile phone services in only about 250 villages in Punjab whereas BSNL will cover more area, especially villages. The General Manager said modalities, including tariff for mobile phones, are being chalked out. However, he said that the tariff will be lower than that of private companies and BSNL service will be customer-oriented. Telephone connections in 12 urban exchanges, out of total 13 in the district are available nowadays on demand. Telephone connections in 34 rural exchanges are also available on demand. The district has fixed a target of providing 25,000 new telephone connections during this year whereas 21,860 connections had been provided the previous year. Mr Gill said out of the total 129 telephone exchanges of the district, 71 exchanges has been provided with latest technology optical fibre cable (OFC) media while remaining 58 exchanges will be connected through OFC media during the current financial year. The OFC media wil boost the efficiency of long distance trunk, traffic. He informed the mediapersons that integrated services digital network has also been introduced in Barnala, Malerkotla, Sangrur, Sunam, Tapa and
Dhanaula. |
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BPL again sells 1 million CTV sets Chandigarh, April 11 As per the company figures, BPL ended the year 2000-01 with sales of about 1.04 million CTV sets. BPL retained its market leadership in all segments of CTV. In terms of market share, BPL commanded 18.7 per cent of the CTV segment in February, 2001, according to the latest compilation by market research body ORG. This is up from 18 per cent in January 1 and 17.2 per cent in December, 2000. BPL has earmarked around Rs 120 crore for brand building and marketing exercise, said Mr Anil Kaila, BPL's Regional Business Head. In 1999-2000, BPL posted a turnover of Rs 2014.6 crore, while its net profit stood at Rs 107.1 crore, a 4.54 per cent growth over the previous year. In Punjab, said Mr Vipul Mathur, Regional Product Head, BPL has improved its market share to 20.3 per cent which is more than the national average. BPL is reaunching its audios with VCD systems. BPL’s Punjab region team held a distributor meet here where a 1 million celebration cake was cut with a resolve to reach the two million mark by 2003. |
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1,065 SBI employees opt for VRS Amritsar, April 11 Not only are the banking services severely hampered by the mass exodus of employees, even the public is feeling the pinch. As many as 1,065 employees of the (SBI) opted for premature retirement under the VRS package in the Chandigarh circle alone out of 14 other circles of SBI comprising Punjab Haryana, Himachal Pradesh, Jammu and Kashmir and Chandigarh. While the Amritsar head office claims the highest VRS figures in India. Forty of its employees retired in a single branch under the VRS. Added to that are 11 more retirees in the general retirement. Consequently the bank strength has drastically cut to 136 from 177, says Mr B.S. Sabarwal, Assistant General Manager, SBI main branch. The SBI reported 246 officers, including assistant managers and senior officials in Punjab, with 381 of the clerical staff and 86 messengers making 713 employees who had opted for the VRS. It is learnt that 1,370 officers in the SBI had applied for the VRS out of which 380 in the whole of Chandigarh circle were approved. Haryana SBI, however, reported a total of 270 retirees with 82 officers and Himachal Pradesh conceded 76 bank employees to VRS while Jammu and Kashmir reported a total of 58 of which 28 are officers, Chandigarh, however, reported the lowest with 25
VRS retirees. Interestingly a high percentage of women and handicapped persons whose jobs being need-based opted for the lumpsum package under the VRS. Patiala reports the maximum number of women retirees while Jalandhar SBI reported 20. The State Bank of Patiala, however, reported the maximum figures of retirees in Punjab with a total of 1200 including 400 officers. Incidentally, its Locka village branch is left with no clerk as all three clerks opted for VRS. The number of VRS optees in Punjab and Sind Bank is 147 in Amritsar district, while Punjab National Bank lost 850 employees to the VRS in Punjab. The situation of understaffing has adversely affected the bank employees who are overburdened with work. A bank officer on conditions of anonymity reveals “the clock touching 5 o’clock no more means ‘time over’ as we have to put in 3 to 4 hours additional hours to clear pending work and make a fresh start the next day.” And the further adds “government has given little thought to the fact, that to operate computers we need hands computers even though computers have managed to create a redundancy list for bank employees.” Meanwhile long queues of general public continue to be a common sight in/outside banks as work becomes slow paced combined with poor service often leads to rising tempers. While a bank manager pleads the shortage of cashiers for the reasons of delay. Cash management has hence become the vital part of the long list of the bank’s proverbial ‘headache’ for banks. However, Mr Rajan Rathore, a textile businessman, comments “it comes as no surprise that Indians lack “work — culture” in the circumstances when you have to spend hours to get a small thing done what remains of your efficiency.” Mr Kashap Khanna says, “The government instead of going for retrospective enhanced efficiency policies opts for retrograde policies without back-up, hence efficiency is the obvious casualty.” |
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Software jobs for kids who failed in school Hyderabad, April 11 Today, two blazing bulbs dangle from the ceiling of his family’s shanty. Kumar covers the electric bill, thanks to a job in Hyderabad that originated in California. It’s a low-tech piece of global business — processing US property records from microfilm for a San Diego company. But it’s part of a programme that could help narrow a digital divide in a nation with the world’s largest population of the poor. Learning to use computers and software, 90 dropouts in a UNICEF-backed project are preparing for better paying jobs in high technology. “No one ever thought I’d get a nice job in a software firm. I was always called a ... failure,” said Kumar, 19, gazing at the light bulbs in his home. India has long attracted foreign technology firms with its cheap labour, strong education system and English-speaking workforce — the world’s second-largest after the USA. Top software makers such as Microsoft, Oracle and Baan opened development centres in this city, where professionals write programs and provide technology advice to global firms. But little of the wealth has filtered to the uneducated masses in the country, which has 300 million people living in poverty. Converting microfilm into compact discs is relatively unskilled work. But for teenagers who had never seen a computer before, it’s a big step up. The income helps them get toilets for their homes, or pay for medical treatment for ailing parents. Others hook up telephones. Participants are taught English, conversation skills and time management and grilled in mock interviews. They learn to use software ranging from Windows applications to Internet programs and accounting packages. Many enroll in courses to learn more advanced software skills. Commuting by bus each day to the Hyderabad branch of Data Tree. Kumar scans and crops documents from thousands of properties in California, New York, Texas and Washington. The information is transferred to CDs and flown back to the USA. He earns $72 a month — more than three times his father’s income as a construction worker and enough to cover the $2.60 monthly fee to electrify his home. Kumar can hardly believe he works in a spacious, air-conditioned office with a computer on every desk and converses in English with colleagues, many of whom are college graduates. The year-old Street Kids Business School project is run by a foundation of Dr Reddy’s Laboratories, which has contributed $54,000. UNICEF, which spent $21,700, is in talks with the government to start similar programmes in cities across the country. Though bigger software makers hesitate to recruit dropouts, six Hyderabad technology companies employ kids who failed in school. In a highly competitive market, the teenagers realise they must complete their education. “First I was scared that everyone at work was a graduate and I was not” said G.V. Kumar, 19, a Data Tree worker. “I also thought computers were only for rich people, but this course changed my life.” Kumar, the sole breadwinner in a family of four, is paying for advanced software courses as well. Data Tree’s General Manager Rakesh Sawhney says credit card companies are offering cards to the new employees. “Many of these children didn’t have bank accounts before. Now they have ATM cards.” Other lessons are less tangible. Students, often lacking role models at home, arrive with unkempt hair and unbuttoned shirts. Their teachers help them refine their images, said Nalini Gangadharan, Executive Director of the Dr K. Anji Reddy Foundation. Srinivas Kumar lost his mother to cancer a year ago, before she saw him succeed. Eyes brimming with tears, he says: “I daily think if my mother were here and saw the house with light, she would feel so happy.”
AP |
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rIntellistudent to set
up 4 centres in city Chandigarh, April 11 Announcing this here at a press conference today, Mr Saurabh Chawla, CEO, Intellistudent, said the company will provide nearly 600 courses admission for which will start a month later . MindLeaders is one of the world's largest content development companies for Internet and intranet-based learner centric education. It will provide courses which range from basic computers to networking and programming to web development. Intellistudent has already finalised two franchises and plans to set up more than 20 centres within a month and a half , including 4 here. These centres will be opened for 24 hours and students can fix up their timings as per their convenience. "These will be self-based learning modules where the students will also be provided personal contact programmes as and when required", said Mr Chawla. Intellistudent is also planning to offer competition programmes to prepare for competitive examination, school education programmes and professional courses shortly. |
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Easy-to-cook rice soon Sonepat, April 11 “ We have been working on the project for more than three years now and we are hopeful that the concept should be commercially launched in India within a few months time”, Mr Munishwar Vasudeva, Vice President (Technical) of LTOL told The Tribune. The objective is to develop a product similar to tea-bags where no boiling of the rice is required, Mr Vasudeva said, adding that LTOL already has developed a proto-type of the product. “We want to be absolutely sure about the results of the products before launching it for mass consumption. As and when it happens we hope it will be revolutionary”, Mr S.C. Chawla, Director (Technical) said. Instant food is beginning to catch the fancy of the Indian consumer with many products being processed to make it as user friendly as possible. “The focus is on reducing cooking time as much as possible”, Mr Vasudeva said. LTOL, which has recently commissioned a state-of-the-art rice processing plant in Balagarh in Haryana, is shortly going to launch flavoured rice under the same brand name ‘Dawaat’. “ Initially we will be launching a few flavours such as lemon rice and masala rice. This is the first link in the chain of value addition. A sachet of flavour will be made available with every packet of rice and the user would not be required to go through the cumbersome process of slicing vegetables and preparing a paste of spices”, Mr Chawla said. |
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SM Telesys to offer
call centre solutions New Delhi, April 11 The company will provide state-of-the-art hardware and know-how to entrepreneurs who wish to set up call centres, besides the company will help these entrepreneurs in getting the business to sustain their centres. According to Dr. N.P Sen, Chairman & CEO, the call centre business is taking off in India in a big way. In the past the concept of customer service was underplayed, toll-free was unheard of, and the number of call centres in India were few. But the mood has now changed, particularly since last year as some top multinationals have decided to locate their call centres here. “We will provide complete solutions from selection of the hardware to getting clients for the call
centre. Currently the USA has over 100,000 call centres employing over 3 per cent of the country’s population. |
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Amend industrial, trade union Acts Chandigarh, April 11 The delegation suggested that the labour laws should be codified under different headings — Industrial Relations Law, Law on Wages, Law on Social Securities, Law on Health, Safety and Welfare and Law for Unorganised Labour. The rigid over protective labour policy has proved to be counter productive and the concern to protect jobs at all costs and keep alive sick and unviable units have cost the nation dearly, stated the delegation. The delegation from the Chamber comprised of Mr Amarjit Goyal, Chairman Punjab Committee, Mr Vikram Sehgal Chairman Chandigarh Committee, Mr Satish Bagrodia, Chairman HP Committee, Mr P.K. Jain Chairman, Haryana Committee, Mr
R.S.
Sach |
With all the nefarious activities of the so-called ‘New Bull’ now being made public, there is ample evidence to nail the managements of several corporates who have worked hand in glove with this market manipulator to ramp their stock prices. The right course
now would be to send these management personnel to the slammer where they belong alongwith their one time benefactor from the market. Else, this whole exercise of having discovered these manipulative market practices would be rendered redundant. Furthermore, such an action might pave the way for a cleaner and more transparent future market, albeit in the long term. For now though, there is no escaping from the extreme pessimism that has enveloped the Indian bourses. Bull operators, if there are any left, that is, willing to take a punt could consider taking up long positions at the counters of BHEL at Rs 121 (square up at Rs 129) and Dr Reddys Labs at Rs 964 (square up at Rs 991). Bear operators could consider taking up short positions at the counters of Zee Telefilms at Rs 124 (cover up at Rs 101) and Reliance Petroleum at Rs 49 (cover up at Rs 42). The dark horse portfolio pick of this week is
upto Circuits whose monoploy status in a niche segment could help it become an
out performer during FY 2001-02. |
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Motorola loss beats expectations B2B exchanges fail to deliver US judge warns Napster Ford recalls new sport vehicles US car sales slide in first quarter |
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Trade fair Godrej Soaps INSCOL MoU Citizen Bank J&K Bank |
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