Category Archives: Offshore Services

Satyam – the Larceny Scenario

Posted on January 18, 2009 by Basab Pradhan

Investigators looking into the fraud that has been called India’s Enron have found a “maze” of about 300 companies related to Mr. Raju that were used to “siphon” as much as $1 billion in cash from Satyam, said a senior … Continue reading →

Posted in Business, India, Offshore Services | 10 Comments

Satyam Operating Margins Look Real

Posted on January 14, 2009 by Basab Pradhan

I pulled this chart together on our very own research platform just to see if there were any signs in the operating margins that Satyam was managing earnings. I found none. The comparables to Satyam (SAY) are Infosys, Wipro and … Continue reading →

Posted in Business, India, Offshore Services | 6 Comments

Satyam Next Steps

Posted on January 11, 2009 by Basab Pradhan

India’s regulatory authorities have made a great start on the Satyam accounting fraud scandal. The two bodies that would have regulatory oversight over such a situation – the Ministry of Company Affairs and SEBI – are both playing this on … Continue reading →

Posted in Business, Finance, India, Offshore Services | 3 Comments

More on Satyam

Posted on January 8, 2009 by Basab Pradhan

We are where we are. The biggest corporate fraud in India’s history was disclosed by its perpetrator yesterday. Where we go from here, as I wrote yesterday, this is a test of our regulators. How they handle this crisis will … Continue reading →

Posted in Finance, Offshore Services | 11 Comments

Questions re Satyam

Posted on January 5, 2009 by Basab Pradhan

While I was out of circulation and not blogging (business trip and vacation) the Satyam saga was unfolding. I remained abreast of what was happening but didn’t post anything on it. It’s been well covered by other bloggers and the … Continue reading →

Posted in Business, Finance, India, Offshore Services | 10 Comments

Outsourcing Captives is Not an Acquisition

Posted on May 12, 2008 by Basab Pradhan

About a year ago, I had written about why offshore IT captives don’t work [link]. Now I hear that the companies that had set up captives in India are rushing to get rid of them. Except that there is a … Continue reading →

Posted in Offshore Services | 11 Comments

The IP imperative for IT Services or How to Beat the Recession

Posted on April 7, 2008 by Basab Pradhan

The Indian IT Services industry is going to feel the pain of the US recession which is likely to spread to other major markets as well. This recession is going to be different as I have said before. What do … Continue reading →

Posted in Offshore Services | 9 Comments

Changing Times for IT Services

Posted on January 27, 2008 by Basab Pradhan

The last twelve months have been ugly for IT Services stocks. As an industry it was probably the worst performing industry in the Indian stock market. The chart below of Infosys vs. Sensex makes the point better than I can … Continue reading →

Posted in Offshore Services | 9 Comments

Thomas Weisel Shutters Discovery Research

Posted on December 11, 2007 by Basab Pradhan

Last week Thomas Weisel Partners announced that it is shutting down its small cap research offering, Discovery Research. The 8-K filing says Thomas Weisel Partners Group, Inc. (“Registrant”) announced today that it would discontinue its Discovery Research coverage of U.S. … Continue reading →

Posted in Finance, Offshore Services | 5 Comments

How Will IT Services Fare in the Coming US Recession

Posted on December 9, 2007 by Basab Pradhan

Most commentators put a high probability on the US going into a recession. What began with a problem of imprudent housing loans in the US has snow balled into a crisis for the Financial Services industry and an almost certain … Continue reading →

Posted in Offshore Services | 11 Comments