EGShares Technology GEMS ETF
The Indian Blue chip firm Infosys Technologies (NYSE: INFY) has discarded its sluggishness by announcing remarkable growth in its Q3 FY13 earnings and by beating analysts’ expectations. The company reported net income of $434 million against $431 million in the last quarter. Revenue, including Lodestone, rose by 5.8% from a year ago to $1,911 million, and excluding Lodestone revenues posted a 3.7% year-over-year growth at $1,872 more »
Bangalore based company Wipro (NYSE: WIT), one of the leading firms in India’s powerful IT sector has posted mixed results for its previous quarter. Although quarterly earnings beat analysts’ estimates, the outlook is weak as sales from its outsourcing services division for the current quarter ending March 2013 will most likely remain flat, or in the best case scenario, increase by 3% from the previous quarter. Following the announcement more »
After transforming Tata Group into India’s largest industrial conglomerate with its footprint across the globe, its chairman Ratan Tata has stepped down. Cyrus Mistry, the new chairman will now be in charge of this global $100 billion company with operations in more than eighty countries spread across six continents. Under Ratan Tata, Tata Steel, the biggest Indian steel company, bought its Anglo-Dutch rival Corus for $12.1 billion while more »
Bangalore based Infosys (NYSE: INFY) posted disappointing results for its second quarter with an unchanged annual revenue outlook of $7.3 billion despite the $349 million acquisition of the Swiss management consultancy firm Lodestone Holding AG about a month ago. The company’s shares have fallen by more than 8.5% in the week ending Oct. 12 after the results were made public.
The company’s CFO quickly pointed out more »