Information Technology | IT services sales to drop, says Morgan Stanley

Information Technology | IT services sales to drop, says Morgan Stanley
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First Published: Thu, Mar 12 2009. 10 01 PM IST
Updated: Thu, Mar 12 2009. 10 01 PM IST
Singapore: Computer services companies including Tata Consultancy Services Ltd are facing declining revenue as budget cuts, mergers and bankruptcy at their customers weigh on demand, Morgan Stanley said.
Tata, Hexaware Technologies Ltd and Tech Mahindra Ltd were cut to underweight from equal-weight by Morgan Stanley analysts Vipin Khare and Gaurav Rateria, who said they remain cautious on the industry.
Bloomberg
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Wipro wins Rs1,182 cr outsourcing contract
Mumbai: Indian software services firm Wipro Ltd said on Thursday its Wipro Infotech unit had won a six-year outsourcing contract worth Rs1,182 crore from an Indian government agency.
The contract from the Employees State Insurance Corp. will involve setting up online facilities for registration and payment of benefits to improve health care services, Wipro said in a statement.
REUTERS
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First Published: Thu, Mar 12 2009. 10 01 PM IST