Financial Daily from THE HINDU group of publications
Friday, Jun 06, 2003
Financial Daily from THE HINDU group of publications Friday, Jun 06, 2003 |
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Info-Tech
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Software Wipro, HCL win $40-m US deal Our Bureau
BANGALORE, June 5 WIPRO Ltd and HCL Technologies have jointly won a total package implementation order from an US retailer, which is in the range of $40-$50 million. The multi-year deal is understood to be of total package implementation nature, according to sources. A recent Merrill-Lynch report was understood to have corroborated such order win, sources added. "This wave of recent wins could lift up the investors' sentiment towards the technology stocks once again," a software analyst with a foreign brokerage said. It may be recalled that local technology stocks were battered following cautious earnings guidance from Infosys Technologies. A spate of recent wins like close to $70-million order from SBC Communications in Infosys and gradual ramp-ups of Boeing and Telstra accounts with the company have helped lift some of the gloom clouding the technology sector, analysts said. Interestingly, the local vendors chose to stay mum over the new wins tracking an outsourcing backlash that is currently sweeping the US and major European markets. According to industry watchers, the new outsourcing deals encompass penalties to the vendors for revealing client identity as new customers are increasingly shying away from revealing their identities anticipating outrage back home.
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