Satyam no more a worthy rival of Infosys

Satyam no more a worthy rival of Infosys
PTI
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First Published: Mon, May 11 2009. 11 18 AM IST
Updated: Mon, May 11 2009. 11 18 AM IST
New York: Scam-hit Satyam Computer may have embarked upon a revival path under the new owner Tech Mahindra, but it seems to have lost its place among the noteworthy competitors of its rival Indian IT service provider Infosys.
Before it was hit by the country’s largest ever corporate fraud, admitted to by its founder and the then chairman B Ramalinga Raju in January, Satyam had been a regular on the list of competitors mentioned by Infosys in its annual report filings with the US market regulator Securities and Exchange Commission.
However, Satyam’s name is conspicuously absent on Infosys’ latest annual report filing for the financial year ended 31 March.
Both Infosys and Satyam are listed in the US - Infosys on the Nasdaq and Satyam on the New York Stock Exchange or NYSE.
In its annual report filings, Infosys had been saying that it operates in “a highly competitive and rapidly changing market”, while listing out among its rivals the names of Indian IT service providers such as TCS, Wipro, Satyam, HCL Technologies; business process outsourcing or BPO firms like Genpact and WNS; and global players like IBM, HP, Cap Gemini, Oracle and SAP.
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First Published: Mon, May 11 2009. 11 18 AM IST
More Topics: Satyam | Infosys | Fraud | Corporate | Raju |