CCL Products - Brewing Success!

Authored by Amit Singh for The Global ANALYST

Jaipur Joins the 'Metro' Club, launches Metro Rail

Authored by Amit Singh for The Global ANALYST July'15 issue

(Note - Source of The World's top 10 Metro Rail Systems is: www.railway-technology.com / Kable Intelligence Limited)

K'a'sh King: Emami Gets a big boost from Kesh King Acquisition

Authored by Amit Singh for The Global ANALYST July'15 issue

Nightingales - A Home Healthcare Pioneer

Authored by Amit Singh for The Global ANALYST July'15 issue

Corporate World

Prathibha Biotech

Revolutionizing Agri-biotech in India

Agri-biotech is not something one comes across quite often. Though the concept might be making waves in the west, it is yet to find many takers in India. However, one company that promises to change this perception is Prathibha Biotech. The Hyderabad-based company is at the forefront of taking biotech to the field of agriculture and transform lives of farmers who have had to depend on expensive and not-so-environment friendly agri-chemicals.

Perhaps no other word excites as much as biotech when one thinks of pharmaceuticals. Biotech has gained unprecedented attention across the globe – from America to Europe to Asia. And India is no different. However, while the very mention of the term conjures up images of scientists developing promising products to cure even chronic human ailments, the agri-biotech is yet to draw similar attention. But one company that is working fiercely and determinedly to change this perception is Hyderabad-based Prathibha Biotech. This company, led by the visionary Rajasekhar Reddy, is spearheading a revolution to take agri-biotech to the farmers across the country and help transform Indian agriculture.

Agricultural biotechnology, according to the US Department of Agriculture, comprises of a range of tools, including traditional breeding techniques that alter living organisms, or parts of organisms, to make or modify products; improve plants or animals; or develop microorganisms for specific agricultural uses. Agri-biotech offers a simpler and efficient option for weed control while also helping reduce production costs to a world that is finding it hard to keep pace with rising demand for food.

Celebrating a decade of a glorious journey

Prathibha Biotech, which began its journey a decade ago, in 2005, is celebrating 10 years of its successful existence this year. Indeed, the company has since then come a long way, given that it was not easy to enter this field at a time when agri-biotech was yet to find many takers in India. However, thanks to the vision and dynamic leadership of its founder, which has helped Prathibha Biotech establish itself as one of the leading names in the agri-biotech in India, today, and create greater awareness among the farmers community about the benefits of agri-biotech products. The company’s promoters bring with them vast experience in the manufacture of Biotechnology prducts, Vermiculture-, Tissue-Culture and Bio-Organic processes.

Prathibha Biotech has, over the years, developed a vast portfolio of agri-biotech products including bio pesticides, bio fungicide, granulated bio fertilizers, and bio stimulant amongst others. According to a report by the India Brand Equity Foundation, the Indian biotechnology sector is set to cross the milestone of $100bn by 2025 from the current $5-7bn, growing at a rate of 30 per cent. Biopharma with a share of about 62 per cent, accounts for the lion’s share in the total revenue of the sector, followed by bioservices (18 per cent), agri-biotech (15 per cent), bioindustry (four per cent), and bioinformatics contributing (one per cent).

Making rapid strides

The company has made rapid strides during the last 10 years, in terms of both the reach and its product portfolio. It started out with the aim of providing eco-friendly and ecologically beneficial products to improve and assist the farming community to protect their crops and provide rich yielding harvests. Thanks to its unstinted efforts, Prathibha Biotech has, over the years, carved out a place for itself among India’s fast-growing and highly-competitive agri-biotech space. The company’s focus on providing best quality and affordable products has helped it reach out to a greater number of its targeted markets well.

Besides intensifying its R&D efforts, the company has also worked hard on making sure that it reaches out to a greater number of farmers. Towards this objective, it decided to focus on enhancing its reach among its target customers in the southern and western markets first, before going for a pan India presence. In the past 10 years since coming into existence, Prathibha Biotech has created a vast network of over 500 dealers spread across Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, Maharashtra and Gujarat. According to the company, dealers form the critical link in connecting with farmers, and hence it takes all the steps to make sure that it extends all possible support to its dealers and other channel partners 24X7 and that it treats its dealers with utmost respect. Besides, it also ensures that its marketing team remains in constant touch with the dealer community regarding the developments in the biotechnology sector and our product lines all the time. The company also has well-trained Field Officers to educate the farmer community on the usage of biotechnology as well as to demonstrate its products.

The company also pays utmost attention to maintaining global quality standards and best manufacturing practices. Prathibha Biotech is an ISO 9001:2000 Certified Company and all the products are manufactured with good quality and are subjected to strict quality control measures. The company’s research laboratory is equipped with modern facilities to research and invent new products. The company’s manufacturing facility is at Chowtuppal, Hyderabad.

Building a greener future in agriculture

As the company celebrates 10 years of successfully serving the farmers community is passionately working hard towards a bigger goal, that is, of building a greener future in agriculture. The agri-biotech pioneer sets out with the mission to reduce the use of several harmful chemical fertilizers and pesticides in agriculture. Farmers have, since long, been using the chemicals-based pesticides and antibiotics for protecting against harmful insects, pests, etc., however, their persistent use in crops lead to deteriorative effect on human lives, who consume the end-produce. With its innovative, agri-biotech products, it aims to make sure that the food – from farm to fridge - is safe and healthy. Welcome to a world of healthy living.

  

What is Agri-Biotech? Biotechnology products are made up of micro-organisms such as bacteria, viruses, fungi, insects and herbs. The main aim is to reduce the use of chemical fertilizers and pesticides, and to preserve the nature. Biotechnology is used to raise and stabilize yields, to improve resistance to pests and diseases, and to enhance the nutritional content of foods with higher vitamin and protein content. It improves the quality of the yield, and makes the product more affordable in the world market. Biotechnology products also increase the fertility of the soil, and reduce pollution in the environment, soil, and the produce there by improving human lives. Market size The Indian biotech industry holds about 2 per cent share of the global biotech industry. The Indian biotechnology sector is expected to grow from the current US$ 5-7 billion to US$ 100 billion by 2025 by doubling the growth rate of this sector from 15 percent to 30 percent, according to the Association of Biotechnology Led Enterprises (ABLE). The high demand for different biotech products has also opened up scope for the foreign companies to set up bases and reap great profits. The biotechnology industry in India, comprising about 400 companies, has grown three-fold in the last five years to reach US$ 4 billion in FY 13. Growing at an average rate of about 20 per cent, India's biotech industry comprising biopharmaceuticals, bioservices, bioagriculture, bioindustry and bioinformatics could reach the US$7bn mark by FY'15. Biopharma is the largest sector contributing about 62 per cent of the total revenue followed by bioservices (18 per cent), bioagri (15 per cent), bioindustry (four per cent), and bioinformatics contributing (one per cent).

Source: Prathibha Biotech; IBEF

Customer Service: IDBI Bank is a Shining Example

IDBI Bank stands out amongst its banking sector peers when it comes to customer care.

While IDBI Bank would not compare favorably with some of the front line banks like PNB and HDFC Bank besides the big brothers SBI and ICICI Bank in terms of (assets) size and reach, it can definitely give them a run for their money when it comes to customer service, a critical though mostly ignored aspect where most banks falter to deliver. In fact, IDBI Bank is too good for other banks to come even close to it when it comes to customer care.

To cite one example, just a couple of weeks ago, one of my friends told me that he was pleasantly surprised when he received his cheque book even before he could apply for the one! His earlier cheque book had almost exhausted, however, he was too lazy to apply in time for a new one. But the bank was not! Its robust customer care infrastructure knew when to send the cheque book. My friend had not expected his bank (IDBI) to be so caring! Surprisingly, not many people know that IDBI Bank is a state-owned (and not a private sector) bank!

And it is just one example. Even the branch banking experience at an IDBI Bank branch would put its competitors to shame. The ambience at IDBI Bank’s branches is so good that a customer may wonder whether he or she is visiting a top quality car show room! But the biggest surprise is the quality of staff. The staff is courteous and caring. They are also very forthcoming and are always ready to assist you. They also lend an ear to your suggestions as well as grievances with equal ease. They also have the patience to listen to their bank’s customer’s small chit-chats. Though all this may sound unbelievable, it is true. Indeed, the top quality customer service of IDBI Bank comes as a fresh breath of air to customers (at least for small customers like me) tired of facing apathy of staff at majority of the home-grown banks, including the fast-growing private sector banks.

It’s a remarkable turnaround for the yesteryear’s DFI (Development Financial Institution) behemoth which had been trying hard to find its footing in India’s banking landscape that underwent a sea change post-1991. While the sector ushered into universal banking, IDBI found itself sorely lagging behind peers like ICICI and HDFC, which leapt ahead by morphing themselves into a sort of financial supermarkets, riding high on new and innovative models such as bankassurance and universal banking, in tune with the changing global banking environment.

The transformation that IDBI has undergone in the last few years is, however, now beginning to show the results. As its 2010 financial results showed, it pays to be customer-friendly. According to an analysis by The Analyst magazine (October 2010 issue), IDBI Bank outperformed its banking sector peers (in the state-owned banks category), by notching up highest Business Per Employee and stood second in terms of Profit Per Employee (after Corporation Bank), during FY 2009-10.

And if it continues its good efforts in the hitherto ignored areas like customer care and product innovation (even its passbook looks sleek and is elegantly designed), it would be tougher for rivals to stop its march to the top of the banking league table.  

Surely, IDBI Bank stands out as a shining example in an industry which is notorious for poor customer service. Maybe they can take a leaf out of the retailing industry’s book - the best industry when it comes to customer care.

Good work, IDBI Bank.

On the lighter vein, I would like to put the disclaimer that it’s neither a sponsored ad nor an advertorial. It’s the personal experience of the author. Hence experiences of other customers might vary. 

Amit 

(Images source: IDBI Bank)

Apple dethrones Nokia, becomes No.1 Smartphone Maker

Even as Apple gets crowned as the new global no.1 Smartphone maker it leaves many wondering as to how the once-mighty Nokia capitulated so meekly, and also so early!

Didn’t Nokia see the Apple hurricane coming its way? Was the Finnish mobile phone giant too occupied with its internal troubles that it got blindsided by the coming external shock (read: Apple iPhone)? Or, did it simply overlook the writings on the wall?

Indeed, Nokia’s shockingly spectacular slide has left many questions than answers in the minds of millions or perhaps billions of mobile phone users and analysts alike across the globe.

According to the latest data from the International Data Corporation (IDC), Apple shipped 20.3 million handsets compared to 16.7 million handsets sold by Nokia, during the second quarter ending June 30, 2011. In fact, not only Apple dislodged Nokia from the no.1 ranking, but even the South Korean electronics major Samsung too made the merry by shipping more handsets than Nokia during the said quarter, thereby further rubbing salt on the Finnish major’s wound. Samsung, riding high on the huge success of its flagship Galaxy S Smartphones, shipped 17.3 million handsets, during the June quarter. “The smartphone market crowned a new leader in 2Q11, and its name is Apple,” said Ramon Llamas, senior research analyst with IDC's Mobile Phone Technology and Trends team. He added, “Ever since the first iPhone launched in 2007, Apple has made market-setting strides in hardware, software, and channel development to grab mindshare and market share.” He further quipped, “Demand has been so strong that even models that have been out for one or two years are still being sought out. With an expected refresh later this year, volumes are set to reach higher levels.”

It was inevitable though. Ever since Apple hit the market with the revolutionary iPhone, which can easily be termed as the most innovative Smartphone the world has seen, it has just raised the bar so high that rivals have struggled to scale it till date. Surprisingly, on its part, instead of cranking up its own innovation machine, Nokia chose to rest on its past laurels and relied on its hunch of challenging rivals in the low-cost yet fast growing emerging markets such as India and China.

Awfully, and perhaps expectedly too, Nokia’s strategy seems to have doomed, at least for now. In the last few of years since iPhone debuted in 2007 while the Finnish phone maker continued to wrestle with its own internal troubles, in the Smartphone segment, top foes Apple and Samsung were attacking its turf in the US and Europe, it has been ceding ground to nimble-footed rivals like Micromax and Gfive in low-end handset segment in its traditionally strongholds like India and China.

While the iconic iPhone has driven fans crazy, the credit for soaring sales also goes to meticulous distribution strategy by Apple as it allowed the maverick Steve Jobs-led firm to lock in subscribers for long term. According to IDC, “Apple’s success can be directly attributed to its distribution (more than 200 carriers in more than 200 countries), increased manufacturing capacity, and solid demand within emerging and developed markets from both consumers and business users.”  

It’s not over, yet

However, the battle for the supremacy of the global handset market is far from being over. Given the strong demand for Smartphones worldwide, driven by rising disposable incomes and changing lifestyles fueled by new, much more powerful Smartphones, which double up as an entertainment and gaming device. Nokia still stands a chance to bounce back, provided it comes up with an equally compelling Smartphone model as iPhone or Samsung Galaxy or at least something near to that. “The Smartphone market leadership change signifies the parity that comes with a fast-growing market such as Smartphones,” said Kevin Restivo, senior research analyst with IDC’s Worldwide Mobile Phone Tracker. He added, “There is no runaway leader in the market, which means there could easily be further Top 5 vendor changes to come.”

While no one is writing off Nokia for now, it’s surely celebration time at Apple and for iPhone fans.

Apple: The New Smartphone King

Top Five Worldwide Smartphone Vendors, Shipment Volumes, Market Share, and Year-Over-Year Growth, 2Q11 (shipments in millions) 

Vendor	2Q11 Shipments	2Q11 Market Share	2Q10 Shipments	2Q10 Market Share	2Q11/2Q10 Change
Apple	20.3	19.1%	8.4	13.0%	141.7%
Samsung	17.3	16.2%	3.6	5.6%	380.6%
Nokia	16.7	15.7%	24.0	37.3%	-30.4%
Research In Motion	12.4	11.6%	11.2	17.4%	10.7%
HTC	11.7	11.0%	4.4	6.8%	165.9%
Others	28.1	26.4%	12.8	19.9%	119.5%
Total	106.5	100.0%	64.4	100.0%	65.4%

Note: Vendor shipments are branded shipments and exclude OEM sales for all vendors

(Source: IDC Worldwide Mobile Phone Tracker, August 4, 2011)

Image Source: Apple, Inc

Amit

Chief Editor

www.addonviews.com; www.businessviewsreviews.blogspot.com

Google+ Games: Raising the Heat for Facebook

Google seems more determined than ever now to pose a potent challenge to supremacy of Facebook in the social network space. The move to add search engine giant adds games to Google+, its new social network, is a further affirmation.

If ever Google needed a tagline nothing could be as better as – Google Never Sleeps (or shall we say, Google Never Slips!). It definitely looks like that the search engine giant is greatly inspired by the famous byline of a large US bank as ever since it came into existence it has continued to mesmerize surfers with one innovative product after another at regular intervals. The doggedness with which it has pursued its foray into online social network space despite past failures including the latest disaster Buzz, yet the Mountain view, California-based company has continued to push through its social network initiative.

And by adding games to Google+, the search major is taking the game one more step closer to the social network leader Facebook with a massive userbase of over 750 million users; games are among the most popular features on the world’s top social network. “With the Google+ project, we want to bring the nuance and richness of real-life sharing to the web. But sharing is about more than just conversations. The experiences we have together are just as important to our relationships. We want to make playing games online just as fun, and just as meaningful, as playing in real life,” the company says on its official blog. Some of the games available currently on Google+ include Diamond Dash, City of Wonder, Bubble Island and of course, the hugely popular Angry Birds. A member of Google+ has greater control over with whom to play and how to play. Another feature is that, the games will not appear if a user does not want them at any time. The Internet giant has begun rolling out the games in a gradual manner and they will be available to all the members soon.

By July 14^th, Google+ had already signed up 10 million users within less than a month of its launch in late June 10^th. And if estimates by Paul Allen of Ancestry.com are to be believed, Google+ had garnered an eye-popping number of eight million users in the very next week i.e., by July 20^th. Now according to an estimate by The Christian Post, if the average daily addition of 763,000 new users as noticed last month to be considered, it would take just 4-5 months for Google+ to reach the 100-million user mark.

While numbers surely matter, for Google and Google+ more than the numbers it is much more than the users’ affirmation that would come as a moral victory and push it further to launch that final assault to grab the social network crown. But for now, that seems a long way away.  

(Images source: Google; gamesreviews2010)

Amit
Chief Editor
www.addonviews.com; www.businessviewsreviews.blogspot.com

SBI’s Q1FY12 Consolidated PAT falls 25%

State Bank of India’s consolidated net profit registered a decline of over 25% y-o-y during Q1FY12, hit by higher provisions.

       

State Bank of India, the country’s largest commercial bank in terms of profits and assets, continues to be plagued by rising provisions as it posted a decline of 25.3% in its consolidated net profit to Rs. 2,512.47 crore during first quarter ended June 30, 2011, compared to Rs. 3,365.26 crore in the corresponding quarter of the previous financial year. Higher provisioning had nearly wiped out the banking behemoth’s net profit in the preceding quarter ending March 31, 2011 when a sharp erosion of 99% led the bank post its lowest net profit in the last 12 years at Rs. 20.88 crore, from Rs 1,866 crore in Jan-March quarter of FY 2010.

The bank’s total provisions grew at a hefty 168% to Rs. 4,157 crore, during the April-June quarter of FY 2011-12. The provisions for NPAs (Non-Performing Assets) formed a large chunk of the overall provisions at Rs. 2,782 crore, jumping sharply from Rs. 1,733 crore in the same quarter last year. The sharp rise in provision was led by new provisioning norms issued by the RBI in April’11 which require banks to raise provisioning norms to 15% from 10% earlier on all sub-standard assets (an asset is classified as sub-standard where the repayment is due for more than 60 days), besides the apex bank also hiked the standard asset provisioning requirement on teaser loans by 5 times to 2%; SBI, which withdrew its teaser loan schemes on housing and auto loans some time back still had an exposure of nearly Rs. 25,000 crore at the April-end. The bank’s NPAs stood at 1.61% in the June quarter, against 1.63% in the preceding March quarter of the previous fiscal year, while its Capital Adequacy Ratio (CAR) stood at 11.6%. 

The PSB behemoth’s consolidated total income grew by 19.25% to Rs. 39,126 crore from Rs. 32,808 crore, during the said period. Also, its consolidated Net Interest Income (NII) surged about 33% to Rs 9,699 crore.

The consolidated result of India’s largest lender also includes results of its five associate banks viz. State Bank of Mysore, State Bank of Patiala, State Bank of Hyderabad, State Bank of Bikaner and Jaipur (SBBJ) and State Bank of Travancore (SBT), besides other subsidiaries.

On a standalone basis, the bank posted a decline of 45.7% in its net profit to Rs. 1583.6 crore in the April-June 2011 quarter, against Rs. 2914.2 crore in the same quarter a year ago. Its total income, however, grew by 25.24% to Rs. 27,731.67 crore from Rs. 22,142 crore, during the period under review.

The bank’s shares, which closed at Rs. 2,197 on August 12, are hovering near their 52-week low of Rs. 2,120 touched on June 20 this year.

Amit
Chief Editor
www.addonviews.com, www.businessviewsreviews.blogspot.com

Robots to mimic iRobot in Real life!

What seems to be a major initiative to standardize all future generation robotics, scientists are vying for a common platform where all the robots can exchange, store and discover the world in their language.

No, it isn’t a Sci-Fi movie script, According to BBC, European Scientists are currently developing a project codenamed – RoboEarth, the bible for robots. Wherein robots can upload information from a common source and share how they executed a particular task, enabling new robots to master these sequences via RoboEarth.

“The idea behind RoboEarth is to develop methods that help robots encode, exchange and re-use knowledge”, quoted Markus Waibel from the Swiss Federal Institute of Technology in Zurich in BBC. He further added, “Most current robots see the world their own way and there's very little standardisation going on.”

Further, maintaining a common bible via RoboEarth for all the robots, will mean quicker upgradation and implementation of tasks along with availability of information in the form of maps, descriptions of objects and instructions as to how to execute certain tasks.

“Wikipedia is something that humans use to share knowledge, that everyone can edit, contribute knowledge to and access. Something like that does not exist for robots, stated Waibel and added, “It would be great if a robot could enter a location that it had never visited before, consult RoboEarth to learn about that place and the objects and tasks in it and then quickly get to work.”

This project is currently handled by around 35 researchers and is funded by The European Union, which believes that more and more service and domestic robots are going to be placed in homes, a la iRobot style.

Let’s see how it works!

For more refreshing news and insights, keep watching this space.

Until then, its Venky …..Shutting down…Robot style..|

Google forays into Mobile Payments through Wallet

“In the past few thousand years, the way we pay has changed just three times—from coins, to paper money, to plastic cards. Now we’re on the brink of the next big shift,” exhorts Google, the undisputable king of Online search.

In what could certainly be a bad news for rivals, and which could further mark its growing dominance of the fast-growing mobile arena, more importantly, m-Commerce, Google yesterday unwrapped its soon-to-be launched mobile payment application, Google Wallet. The application, the search giant promises, will transform your tiny phone into your wallet. “You’ll be able to tap, pay and save using your phone and near field communication (NFC),” a communiqué from the Mountain View, California-based behemoth said. Google Wallet is currently under field test now and the company is planning for its commercial launch soon.

Google Wallet is a key part of the Online search major’s ongoing efforts to extend its Web dominance to the fast-growing yet still-to-explode field of mobile commerce or m-Commerce. According to the company, while its new application is aimed at further enhancing the convenience factor for the customers and save them from the hassles of carrying a number of cards from credit/debit cards, gift cards, coupons, loyalty cards etc, it also aims to give merchants more ways to offer coupons and loyalty programs to customers, as well as bridging the gap between online and offline commerce.

“When you tap to pay, your phone will also automatically redeem offers and earn loyalty points for you,” it says. And the 800-pound Search gorilla hopes that ‘Someday, ‘even things like boarding passes, tickets, ID and keys could be stored in Google Wallet.’

However, the new service is only limited to United States of America and will roll out in United States and other European Countries in the near future. For users residing in the US can enter their zip code, in the image below, to check the availability of the Google Wallet in your area:

http://www.google.com/wallet/where-it-works.html

While the world awaits the formal launch of Google Wallet, you may also expect some more exciting moves by the giant as it straddles across the Web and Mobile spaces swiftly to protect and extend its dominance. Rivals better watch out!

Keep watching this space, as we bring you the latest from the technology world. 

With inputs from Venky, its Amy, Signing Off!
 
(Image courtesy: Google)

HCL Tech does it again: Q3 numbers beat the street

Naysayers to India’s fourth largest software giant must be eating a humble pie as HCL Tech’s latest quarterly figures beat analysts’ estimates, once again.

In yet another sign that its highly proclaimed and much wondered about philosophy of ‘employees first, customers second’ is no fad, the New Delhi-headquartered HCL Technology has delivered its third quarter numbers that once again outperform the street’s expectations by significant margins. HCL Tech’s latest result, however, vindicate market analysts’ view that ‘Infosys is no more a benchmark for the Indian IT sector.’

During the third quarter ended March 2011 (the company follows July 1 - June 30 financial year), HCL Tech’s revenue grew 32% YoY to Rs. 4,138 crore; the revenue growth was up 6.4% on a sequential or Q-o-Q basis. The company’s operating profit (EBIT) jumped 17.3% y-o-y to Rs. 597 crore. The biggest surprise, however, was the growth in net income, which crossed $ 100 mn/quarter milestone to reach Rs. 468 crore, which is a jump of 33% y-o-y and 17.1% q-o-q. The street-beating performance comes despite the fact that Jan-March is a seasonally weak quarter as clients remain busy with finalizing budgets for the next financial year. The company also added 1,153 (net additions) to take its total headcount to 73,420. 

The robust performance was led by the buoyant IT Services business segment which grew by 6.2% sequentially. HCL Tech also signed 11 transformational deals across service lines, verticals and geographies, during the said quarter. Top 10 clients accounted for a fourth of the firm’s consolidated revenue, while repeat business too remained stable at 94.5%, during the quarter. 

In terms of revenues by vertical, Financial Services and Manufacturing accounted for over half (54%) of the total revenues during the quarter while in terms of Geography mix, the company successfully trimmed exposure to the US and Europe while the share of the Rest of the World jumped. 

Revenues from onsite software services stood at 27.1% while the rest was accounted for by offshore services, though utilization rate (offshore, including trainees) was lower at 71.9% during the March’11 quarter vs. 76.2% in the same quarter a year ago. In another negative, in the IT Services, the attrition rate too jumped to 17% against about 14% in the same quarter of the previous financial year.  However, in the BPO business segment, attrition rate (offshore) nearly halved to 11% from 20.3%, during the same period.

“We continue to expand market share backed by a second sequential quarter of revenue growth of 30%+ YoY along with expansion in margins. HCL’s focus on forward investment in key markets and transformation services is paying rich dividends,” said Vineet Nayar, Vice Chairman and CEO, HCL Technologies. The company’s operating margins expanded by 130 basis points (bps) to 14.4%, during the January-March quarter of FY 2011.

So, is HCL Tech going to be the new poster boy of Indian IT? Lets wait for the results of the two biggies, TCS and Wipro, and the challenger, Cognizant.

Source: Company

Looks like it’s going to be a summer of battles for supremacy at India’s $60bn technology sector.

Amy, Chief Editor