E-reader ownership among US adults has surged in the last six months, doubling from 6% to 12%, according to a survey released by the Pew Research Center. That remarkable rate of adoption surpasses even tablets, which are owned by just 8% of adults 18 and older.
According to an analysis, 10 foreign fund houses sold shares of Indian companies worth Rs2,939 crore through open market transactions on the Bombay Stock Exchange in 2011. At the same time, eight overseas investors bought shares of 10 other firms, including Cairn India, for Rs1,811 crore during the same period
New Delhi: Foreign institutional investors (FIIs) have offloaded shares worth nearly Rs3,000 crore in 23 Indian companies, such as mortgage lender HDFC and Bombay Dyeing, among others, so far in 2011, reports PTI.
According to an analysis, 10 foreign fund houses, such as Citigroup, Morgan Stanley, Merrill Lynch, Deutsche Securities and JP Morgan, sold shares of Indian companies worth Rs2,939 crore through open market transactions on the Bombay Stock Exchange in 2011.
At the same time, eight overseas investors bought shares of 10 other firms, including Cairn India, for Rs1,811 crore during the same period.
Analysts said this is just a normal stock market purchase and sale done by an institutional investor and is more of basket selling by some big client.
“It seems that one of the big clients has offloaded its holdings in the open market, while another one has bought it.
It may also be that the client has changed its fund house,” Religare Securities executive vice-president and head (retail research) Rajesh Jain said.
Overseas clients invest in shares of Indian companies through participatory notes (PNs) issued by fund houses.
Morgan Stanley Mauritius Company sold its holdings to the tune of Rs1,368 crore in 12 firms, including Bajaj Finserv, Bombay Dyeing, VIP Industries, United Breweries Holdings, Garware Wall, Prime Focus and Subex, among others.
Similarly, Citigroup sold shares worth Rs1,249 crore in five companies, namely HDFC, Mahindra & Mahindra Financial Services, Zenith Computers, JBF Industries and Marg, through the bulk deal window.
Further, Deutsche Securities Mauritius sold 2.5 lakh shares of Eicher Motors for Rs25.50 crore.
In addition, UBS Securities sold its stake in Consolidated Construction, JPMorgan Special Situations (Mauritius) offloaded its holding in Cable Corporation and HSBC Global Investment Funds sold its shares in NCC.
What is more, T Rowe Price International Funds, Master Trust BK of Japan, Merrill Lynch Capital Markets Espana and BankAmerica International Financial Corp offloaded stake in Allied Digital, Indoco Remedies, Marg and Zuari Industries, respectively.
The biggest share purchase deal was done in Cairn India’s counter as Broad Peak Mauritius and Merrill Lynch Capital Markets Espana together bought shares valued at Rs1,706 crore.
Besides, DSP BlackRock Mutual Fund, ITF Mauritius, Credit Suisse (Singapore), Goldman Sachs Investments Mauritius, Deutsche Securities Mauritius and Citigroup Global Market Mauritius took stakes in Indian firms during 2011.
Gartner said the enterprise software vendor landscape continues to change as M&As are expected to continue as vendors and service providers look to expand their customer bases, add unique features aligned to a vertical-market or technology function and improve overall market presence
New Delhi: The Indian enterprise software market showed broad growth and recovery in 2010, with total software revenue increasing 16.3% to total $2.5 billion, reports PTI quoting research firm Gartner.
In 2009, enterprise software revenue in India grew just 4.2% to $2.1 billion, Gartner said in a statement.
“In 2010, major software vendors expanded their product portfolios, acquired companies where appropriate to their plans and reached deeper into emerging markets, including India,” Gartner principal research analyst Asheesh Raina said.
The year represented a return to solid footing as the India market expanded in terms of revenue and maturity, Mr Raina added.
Microsoft maintained its numero uno position as it increased its enterprise software revenue market share in India to 28% in 2010. Its results were enhanced in 2010 by the broader adoption of new releases of the Windows 7 operating system and Microsoft Office 2010 productivity software.
IBM (with a 13.9% market share) maintained its No 2 ranking in 2010. It could have become the No 1 enterprise software vendor if consumer sales of Microsoft’s office and operating systems are not taken into account. IBM sells only to enterprises and partners.
IBM’s software revenue grew more than 15.3% in 2010, mainly due to its WebSphere, Tivoli, Information Management, Operating Systems and Rational brands.
“IBM expanded dramatically in 2010 into the applications segment with a focus on e-commerce, marketing and sales with more than 20 industry solution frameworks as its ‘smarter planet’ go-to-market strategy evolves,” Gartner said.
Oracle, SAP and EMC followed behind in the tally with 11.5%, 8.3% and 2.4% market shares, respectively.
Gartner said the enterprise software vendor landscape continues to change as mergers and acquisitions (M&As) are expected to continue.
This is because vendors and service providers look to expand their customer bases, add unique features aligned to a vertical-market or technology function and improve overall market presence.