Companies & Sectors
“Obama re-election not best news for IT outsourcing”

Obama in this presidential elections campaign had criticised outsourcing of jobs to countries like India saying that US needs to create jobs locally

 

Bangalore: The re-election of US President Barack Obama is not the best news for IT outsourcing industry, reports PTI quoting Phaneesh Murthy, CEO of iGATE.

 

“Not the best news for India or the IT outsourcing industry. However, we need to understand how much of the election rhetoric continues into 2013 and that will determine the full implications to us,” Mr Murthy said.

 

“The concern over the deficit and jobs will continue (in the US) and in my mind, will force the sluggishness to remain in the economy,” he said.

 

Obama won a second term in office overcoming a stiff initial challenge from his Republican challenger Mitt Romney.

 

Obama in this presidential elections campaign had criticised outsourcing of jobs to countries like India saying that US needs to create jobs locally.

 

The US and Europe account for over 80% of revenues of the Indian IT industry.

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COMMENTS

Shadi Katyal

5 years ago

Why are we looking only for outsourcing and not moving from dot connecting to innovations.
Are the writer aware that Romany's financial company bought an outsourcing company in Europe for about $3 Billions
such negative articles donot help INDIA. His comments might sound negative but it was for election.

did tjhe writer read that it is these Indian companies who created 50,000 jobs in USA.
We must stoop our negative thinking about USA as she has her own problems too

BSE restricts circuit limit for 127 companies to 2%

The exchanges set the circuit filter of a stock as part of their surveillance mechanism in order to avoid excessive volatility in the particular share price

Mumbai: Leading bourse BSE has restricted the price movement for 127 companies to a maximum of 2% a day as part of its surveillance measures, reports PTI.

 

Besides, NSE has also lowered the daily permissible trading price limits for 24 stocks.

 

The changes are effective from today.

 

The exchanges set the circuit filter of a stock as part of their surveillance mechanism in order avoid to excessive volatility in the particular share price.

 

The scrips that would attract a circuit filter of 2% include companies such as Aashee Infotech, Hindustan Housing Co, Hindusthan Udyog, Prima Agro and Zenith Capitals.

 

The shares of the 127 companies are now allowed an upward or downward movement of a maximum of 2% in a day.

 

“...as a part of review of the surveillance action, the circuit filters are revised in the various (127) scrips to 2%,” BSE said, adding that the move “will be effective from 07 November 2012.”

 

The BSE has also set the circuit filter level for the shares of 799 companies to 5%, while for the scrips of another 179 firms to 10%.

 

The NSE has reduced circuit limits for eight stocks from 10% to 5%; for six stocks, from 20% to 5% and from 20% to 10% for 10 others.

 

The companies affected by the changes include Global Vectra, Kwality Dairy, Khandwala Securities and Bharatiya International.

 

The NSE has also announced the price bands of 1,571 securities.

 

It has fixed the circuit filter level of five per cent for 222 stocks in a day, for 78 scrips to 10% and for 1,096 stocks to 20% limit.

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COMMENTS

Vikas Gupta

5 years ago

Can we see the list?

Muhurat trading on bourses to be for 75 minutes this Diwali

The special trading session would be conducted to pay obeisance to Lakshmi, the Hindu goddess of wealth and prosperity

Mumbai: The ‘Muhurat’ trading session will be conducted for 75 minutes on Diwali Day, 13 November 2012, on leading bourses NSE and BSE, reports PTI.

 

The special trading session would be conducted to pay obeisance to Lakshmi, the Hindu goddess of wealth and prosperity. It would also mark the New Year for traders as per the Hindu calendar, or Samwat 2069.

 

The tradition of Muhurat trading dates back over a century.

 

Trading would be conducted between 1545 hours and 1700 hours on the day, as per information available with the exchanges.

 

Earlier, the exchanges had announced that muhurat trading session would be for 45-minutes.

 

The trading would be done in segments like capital market, future and options and stock lending and borrowing (SLB).

 

Last year, bourses had held the trade between 1645 hours and 1800 hours.

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