Infosys- A 3000 bagger.How we missed it?
Printed From: The Equity Desk
Category: Market Strategies
Forum Name: Identifying Multibaggers
Forum Discription: Discuss specific attributes that investors could look at while choosing multibaggers. Also point out certain factors that investors tend to overlook while finding multibaggers.
URL: http://www.theequitydesk.com/forum/forum_posts.asp?TID=264
Printed Date: 09/Apr/2025 at 7:53pm
Topic: Infosys- A 3000 bagger.How we missed it?
Posted By: basant
Subject: Infosys- A 3000 bagger.How we missed it?
Date Posted: 04/Sep/2006 at 7:51pm
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Infosys - A 3000 bagger. How did we miss it? Over the past 13 years no company has been able to generate the kind of awe and respect that Infosys has. The company has grown 3000 times in terms of market cap. In hind sight we may kick ourselves for not being able to buy this stock but at that point in time Infosys remained a high priced stock and each time some one wanted to take an exposure he thought “ Isn’t everything discounted into the price?” and he stopped himself from buying. I always cherish the opportunity of going through old financials and annual reports of stocks that have gone up 50 to 100 times. It helps me understand what factors I should have keep in mind while buying and which ones I could ignore for a while. I have included extracts from the Infosys annual report of 1999. Even if we had bought the stock at that time it would have been a ten bagger in 7 years. A CAGR of 37%.
As we read through the above extract of the Infosys annual report in 1999 a few questions arise. These questions which appear quite relevant hide the bigger picture. I have played the “Devil’s Advocate” by putting up these questions (which in hindsight seem foolish) and then tried to answer them without any hindsight bias.
There were also a few very interesting things that the normal investor failed to realize n The RoE was expanding to 54.96% in 1999 from 34.96% in 1997 n The RoCE was also in an expansion mode to 63.51% in 1999 from 40.16% in 1997. n The operating margins were also expanding from 37.40% in 1999 from 34.81% in 1997 n The high RoCE and RoE was inspte of maintaining a very high amount of money in cash. The return from liquid funds diluted the overall RoCE and RoE from cash invested in operations was significantly higher then what was reported. The bottom-line is unless an investor could visualize how big software services could have been as an industry he could never have bought and kept an Infosys. Would love to have the opinion of anybody on the forum who bought and made big money from Infosys. It would be a learning experience for if they could share with us what they thought was the real trigger for holding this Icon of indian technology ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
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Replies:
Posted By: reetesh
Date Posted: 04/Sep/2006 at 8:18pm
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Franfly I didnt not bought because I was to young to know all this in 1993 I was 11yrs old then, but I always asked my father you guys bought all those sit(s) in 1992-93 that you your self dont know how the hell on earth you did`nt but atleast 100 infy shares, he just laughs at it, what can I say but its not only about money its about getting your thinking right the kind of pleasure that gives is immense, for me money is bi-product as far as stocks are concern. I bought Mphasis BFl in 2001 @ Rs. 17 adjusted for bonuses, after reading BPO research in wall street journal, Mphasis is first one into this, my call was right, I am still holding on and guys you all must be aware that EDS has taken over the company let me give you a brief back ground about EDS is it second largest software company in the world with revenues of $19 billions, I recently attended Mphasis AGM where EDS`s CEO was present and let me tell you if you trust them they have very big plans for Mphasis, the only think is I hope they don`t delist the company, they had no clear answer for this, why I am telling you all this because if you guys have missed INFY then this one is to look out for, I am keeping my finger crossed.
Regards,
Reetesh. ------------- When going gets tough, that’s when tough (people) gets going. |
Posted By: basant
Date Posted: 04/Sep/2006 at 8:28pm
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I have been looking at mphasis rather closely these days and the EDS effect if any should creat a huge demand for this stock. A couple of quarters would be sluggish as al take overs get into write offs ramping ups but from then it should be very good..This time period should be used in buying this stock. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: reetesh
Date Posted: 04/Sep/2006 at 8:35pm
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Correct, but once performance improve then it will creat second round of wealth, another stock which is a take over target is Polaris, Capgemni is looking to buy an Indian software company I think Polaris would be an ideal fit for it, lets see. ------------- When going gets tough, that’s when tough (people) gets going. |
Posted By: Ajith
Date Posted: 04/Sep/2006 at 11:05pm
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I remember an interview with an investment banker( not Enam or connected with the public issue..he was a brilliant fellow in college)in 1996 in which he said that people dont understand the potential of Infosys.That is the crux of the matter .Only those with with long-term vision can see through the financials and it can be kept simple so that any one can see the potential.
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Posted By: reetesh
Date Posted: 05/Sep/2006 at 6:00pm
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Look to me we as country has lots of similarities of US one is Largest Democracy and another is largest democracy interms of GDP, per capita or to put it simply financially. We are follwing the same foot step as US interms of growth I am not talking about speed but I am talking about path that we are following and to look from stock market point of view we must read lot about what US was in say in 70s, 80s and 90s because we are at least that much behind US if we take comparision of these countries. Both economies strenght lies in PEOPLE of those respectives countries because we are growing our growth rate is more diversified than US but as we will move forward it will get concentrated but that is I think far of now. So the point is look read more, gather information about history because the beauty of the beast is to learn from history and invest for future but you will have to look back. Regards, Reetesh. ------------- When going gets tough, that’s when tough (people) gets going. |
Posted By: basant
Date Posted: 05/Sep/2006 at 6:05pm
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ABsolutely. "Golden words" because if we had discussed that buying a 70+ PE company is not all that bad we would have got a lot of frowns and disbeliefs but when we look at the annual report of Infy it does appear how difficult it was to hold on at that high PE. So in times to come if we have read this discussion we would not just ignore a stock just bgecause it is at a high PE or high price to book.
------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: xbox
Date Posted: 18/Dec/2006 at 7:24am
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Well, I feel good promoter at right sector is correct combination. Bad promoter at correct sector were also good for short term (think of NIIT, HFCL, GTL and rest of midcap IT companies). Good promoter at bad sector never get it's due (may be Tata steel etc).
Just think of YES Bank now. There are other banks but then good promoter makes a difference between NIIT and INFYs of the world. Happy thanking ... ------------- Don't bet on pig after all bull & bear in circle. |
Posted By: Crimsonarcher
Date Posted: 18/Dec/2006 at 9:17am
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I bought infosys at 500 and sold of at 700 (pre bonus), when people started telling that it has become over priced. I even worked with the company and had options to acquire shares in 2002... but both times i though maybe others are right and i let go of the rights and sold the stock :-(. I do regret it but then thats a lesson learnt. I then re-bought infosys in the market at 1200, and am still holding it when is at 2200. I think i would hold it till 2010 till it reaches sales of over 10$Bn. I think i did the same thing with bharti and bought it at 250 levels..
I think pantaloon today has the same potential though it has a high p/e. it is still much smaller than infosys. so it can easily be a tenbagger from here on in the next 5-6 years. any more similar suggestions? Also any good mid-cap/small-cap stocks with this potential. Mphasis is one, any other?
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Posted By: basant
Date Posted: 18/Dec/2006 at 9:22am
A very piquant observation.
------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: xbox
Date Posted: 18/Dec/2006 at 11:52am
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When I was working with INFY (in 1999s), I recommended to my relatives to purchase. I did not regret because I never though of picking for myself but those relatives now and then memorize my recommendation and regret. I still remember INFY was 1300 at that time. I don't remember how many bonus/split INFY has got since then. I remember my manager (how as not very happy with work) did not want to quite because he had shares worth lakhs at 1999 by ESOP. One can easily guess how good his decision was. He worth double digit Crors (if not 3 digits). :-))
So in stock markets take is position as early as possible and learn from wrong decisions and losses. A early success will not make u intelligent but a failure will surely. ------------- Don't bet on pig after all bull & bear in circle. |
Posted By: BubbleVision
Date Posted: 19/Dec/2006 at 12:15pm
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A early success will not make you intelligent but a failure will surely.
--------
Really good words...vipul.
Excellent!!! ------------- You can't make money if you are unwilling to lose...It's like willing to breathe in but not willing to breathe out. -- ED SEYKOTA ....Read Disclaimer! |
Posted By: omshivaya
Date Posted: 19/Dec/2006 at 4:59pm
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Excellent writeup there Vipul ji. ------------- The most important quality for an investor is temperament,not intellect.A temperament that neither derives great pleasure from being with the crowd nor against it |
Posted By: kaizenbudhi
Date Posted: 04/Jul/2007 at 8:21pm
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Basantji & Vipul,
How high is high? Pantaloon Retail, Educomp, Financial tech, all tarde at PE of >100.
How does one take a decision whether to be in it or not?
As per my knowledge, Infy also used to be at a PE of >100 somewhere around 1999-2000.
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Posted By: xbox
Date Posted: 04/Jul/2007 at 5:43am
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Basantji & Vipul,
How high is high?
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There are 2 side of stock markets. Short & long. Nobody know how high is high but at hight risk of holding increases, so one should ask oneself .... short or long ? both answers are right & wrong. just before IT doom anybody who short INFY at top was winner but anybody kept INFY was big winner. PE does not matter too much what matters is company's business model & management.
Stock selection is the most important thing. Fundamental, technicals are there to guide us not to select one. ------------- Don't bet on pig after all bull & bear in circle. |
Posted By: omshivaya
Date Posted: 04/Jul/2007 at 8:44am
First things first, who has said Pantaloon currently trades at PE of >100. I hope you try finding out what its PE is on a forward basis and on a trailing basis. ------------- The most important quality for an investor is temperament,not intellect.A temperament that neither derives great pleasure from being with the crowd nor against it |
Posted By: kulman
Date Posted: 04/Jul/2007 at 9:20am
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PE does not matter too much what matters is company's business model & management. Stock selection is the most important thing.
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Nice one, Vipul jee.
------------- Life can only be understood backwards—but it must be lived forwards |
Posted By: valueman
Date Posted: 10/Dec/2007 at 5:36pm
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I am going through this thread for the first time and I am amazed about Infy's growth .I am sure except promoters and few Individuals in the company none would have held Infosys right from the beginning till now and created enormous wealth for themselves . In stock market more difficult that buying is deciding when to sell and in case of Infy many would have made the mistake in selling rather than buying I suppose . Bottom line : Unless and until you understand the business of a stock in which you are investing you will end up making mistake in buying / selling or holding the stock .This is what Buffet says stick to your Core Competence . |
Posted By: basant
Date Posted: 10/Dec/2007 at 5:54pm
This example is right now working more negatively then otherwise many a times in the desire to identify the next Infy people will hold onto junk stocks.
 No one wants to sell when stocks are rising 3 times in 6-12 months.As they say it is only when the lights are put on that people would realsie who is wearing what?
------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: xbox
Date Posted: 10/Dec/2007 at 4:09am
For every one INFY there are 100 silverline.  ------------- Don't bet on pig after all bull & bear in circle. |
Posted By: ramki830
Date Posted: 18/Dec/2007 at 10:21pm
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While we all talk about Identifying the Next Infy, how about Identifying the right moment to exit an Infy ? This question would seem intriguing, but Long Termers who have seen and invested in HLL would know that anyone who exited HLL in June 2000 would be one of the smartest guys around.
Infosys has been one of the biggest underperformers of 2007 and this may not be the end. Identifying the right moment to exit blue chips is a toughest skill IMHO
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Posted By: basant
Date Posted: 18/Dec/2007 at 10:46pm
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Exiting a stock which has given you a multibagger is a tough decision. It is like bidding farewell to your daughter post marriage but since one has analysed a multibagger for multiple years the emotion baggage is far higher then the research part. Normally valuations getting ahead of 40 times forward is the first clue to this but it is the heart that rebels against the mind. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: xbox
Date Posted: 18/Dec/2007 at 3:01am
 ------------- Don't bet on pig after all bull & bear in circle. |
Posted By: tigershark
Date Posted: 18/Dec/2007 at 9:28am
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40 times forward is that a strict rule there are many ted stocks that are 40 timesforward a few you own basant, i also have some so could you pl be more specific as to what exactly you mean is it 40 forward with slowing growth be a more appropiate answer ------------- understanding both the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things |
Posted By: basant
Date Posted: 18/Dec/2007 at 9:59am
That is certainly not the rule but it is the staarting point with some caveats; 1. There is tremendous scale and size of opportunity giving rise to visibility of earnings which can be back calculated. For eg. With the banking companies that we own we can check with in terms of branches; in retail with space signed etc etc. 2. Such earnings should be non cyclical so much that it is independent (to a large extent) on global cycles, international events, stk mkt movements. 3. There are comparable global business moodels with the global leader at 10x mkt cap to the local one which we are holding. 4. At smaller mkt caps (less then 2000 cr) everything is ignorable because a new business foray changes vevrything. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: deveshkayal
Date Posted: 18/Dec/2007 at 10:08am
Very valid Question Doctor saab. PRIL is trading at FY09 PE of 40 or more. But I dont mind holding stocks which are growing at 80-100% annually. I dont think its a Strict Rule. Educomp is trading at the same PE but the stock will become cheap in 3 months. So if one is holding from long term perspective, it doesnt matter.
------------- "You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beat the guy with a 130 IQ. Rationality is essential"- Warren Buffett |
Posted By: kulman
Date Posted: 18/Dec/2007 at 10:09am
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Interesting. Could you merge this post of yours here: http://www.theequitydesk.com/forum/forum_posts.asp?TID=1454 - EXIT: When to sell a stock?
------------- Life can only be understood backwards—but it must be lived forwards |
Posted By: kulman
Date Posted: 18/Dec/2007 at 10:15am
So in other words you always look at PEG, don't you?
------------- Life can only be understood backwards—but it must be lived forwards |
Posted By: daljit
Date Posted: 17/Feb/2009 at 7:17pm
| I bought Infy in it's 2000 high of 7200 just before the dot com bust, present value adjusted to 900. Held it till this Jan and sold at 1350. Would have held longer but needed the funds. Can't help sometimes. |
Posted By: skumar
Date Posted: 04/Jan/2010 at 9:25pm
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I have not invested in Infosys
But I just wanted to know whether this is the right time to invest in Infosys now and other IT stocks
and
whether Glodyne will perform like Infosys did.
Awaiting for your valuable comments and detailed analysis about Glodyne Technoserve.
Thanx
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Posted By: yogishkamath
Date Posted: 15/Feb/2010 at 2:45pm
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I don't think any regular guy would have bought Infosys in '93 and held on to it. However, I know plenty of people who have held ITC, Reliance, L&T etc for long times and seen them go up over a 1000 fold. |
Posted By: TCSer
Date Posted: 15/Feb/2010 at 8:02pm
Could Jubilant foodworks fall into this category considering the huge growth potential in years to come?Imagine buying a Taco Bell or Mcdonald in USA in 1960s.India is akin to USA of 60s |
Posted By: TCSer
Date Posted: 15/Feb/2010 at 8:04pm
I know one gentleman who held on to Infosys by default because he was lucky enough to loose the certificate in 1994 .Inlieu of this punya he got 1600 shares in 2000 of infosys. |
Posted By: danthecorkman
Date Posted: 22/Jun/2010 at 1:35am
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Hi, I am new to the forum, but have been intrested in stocks and shares for a very long time. I just saw you comments about Mphasis in 2006, and hope that you stuck with them, as they seem to have kept their promise and delivered nicely! Well done! 
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Posted By: gautham
Date Posted: 11/Aug/2010 at 10:00pm
| I am very curious to know if there is any investor who bought it when the issue came out and has held on till date. It would be interesting to know. |
Posted By: Circuit
Date Posted: 11/Aug/2010 at 11:33pm
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My father was allotted 150 shares at IPO which have multiplied to 6400 now His initial investment of Rs. 14,250/- in 1993 is worth Rs. 1,79,89,120/- at CMP. He is not willing to let this go... sort of emotionally attached.
------------- Fundamentalists and anticipators may have difficulties with risk control because a trade keeps looking ‘better’ the more it goes against them....Ed Seykota |
Posted By: India_Bull
Date Posted: 11/Aug/2010 at 12:14pm
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Wow that's amazing !! if Infosys IPO would have been in the market now, most of the people would have booked at 5% gains.
------------- India_Bull forever Bull ! www.kapilcomedynights.com |
Posted By: basant
Date Posted: 11/Aug/2010 at 6:38am
That is why everybody cannot be rich at the same time. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: chimak10
Date Posted: 11/Aug/2010 at 9:23am
| Wow circuit bhai .......................simply wow. |
Posted By: yogishkamath
Date Posted: 06/Sep/2010 at 9:35pm
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It's a 1200 bagger...... So, he must have sold some. How did he learn about the company in 93 ? When did he sell a part of it and why ? And why did he decide not to exit it when he sold a part of it ? I would be grateful if you could provide us these insights..... |
Posted By: Circuit
Date Posted: 06/Sep/2010 at 9:46pm
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Not a single share sold till date. My father had knack of identifying good managements; I remember of him telling me "Avoid Cheap Companies". I never understood the meaning of "cheap" then. I also know many experts were thinking that Infy was "very expensive" IPO
------------- Fundamentalists and anticipators may have difficulties with risk control because a trade keeps looking ‘better’ the more it goes against them....Ed Seykota |
Posted By: adityancs
Date Posted: 06/Sep/2010 at 10:25am
Yes. Good Management has already been stressed by Mr. Basant Maheshwari.
You may kindly reveal the criteria to findout good management when the company is very young especially in case of First generation promotors (Mr. Narayan Murthy has failed in his earlier businesses)...
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Posted By: surfingminds
Date Posted: 22/Sep/2010 at 2:41pm
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I have some interesting fact on Karuturi Global based on which I have invested and atleast become 10 bagger in 5 years time following important points be noted : 1. As 90st IT emerged as a new sector, Though Farming is not new but Reforming to feed the global food demand
2. Indian cost saving advantage helped IT to be profitable
African cheap land and resources should help farming to be profitable
3. I saw very interested interviews of Mr. karuturi the man behind but m not sure and would like to know more about his management of passion into agro as the vision he set for the company is very optimestic
Agro is not like IT that demand will exponentially rize in a period of chaning time but its more sustainable long term, Also regulations and politics would effect more than any thing else
So I don't expect it to 1000 bagger but atleast 10 bagger in 5 years time
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Posted By: manish_okhade
Date Posted: 23/Oct/2010 at 11:14am
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INFY as example is really worth pondering. Now all these are hindsight, lets focus on identifying the new INFY.
I think its not always possible to have a sector like outsourcing in all times which offers the potential to make a company to become a billion dollar in a decade or more. At lease i am unable to think of any sector/company in present time which has the potential to mimc the INFY, If other TEDs feel so then lets share. Few possibilities though may not be like IT but they looks scalable;
1) Retail - Panetration is still less in terms of whole nations for Pentaloon
Food Bazaar. Same for Titan.
2) Insurance - Its altogather a new area in India after LIC for pvt players
3) Brokerage - Still % of indians in the stocks as retail looks very low
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Posted By: nav_1996
Date Posted: 24/Oct/2010 at 12:27pm
| I would bet Max India. |
Posted By: LearningToFly
Date Posted: 24/Oct/2010 at 3:41pm
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What are the other companies in insurance sector
------------- Success... at all cost. |
Posted By: ravi
Date Posted: 24/Oct/2010 at 7:17pm
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Clearly a sector like brokerage looks promising. We have a miniscule percentage of people investing in the market. Clearly if the participants increase higher levels of Sensex and big bubbles like 2019 are always welcome to people who get off the train.For the past 30 years, the Sensex has had a history of moving in multiples of around six every 10 years. Starting 1978, the index went from from 100 to 600 in 1988-89; it then rose to 3600 in 1997-98. In 2008, it touched a high of 21200. If that trend holds true till 2018, the Sensex could very well go beyond 127000. ------------- |
Posted By: nikhilmoryani
Date Posted: 25/Apr/2011 at 3:00pm
| Is there any Infy that we are overlooking today? |
Posted By: manish_okhade
Date Posted: 25/Apr/2011 at 3:02pm
eClerx.
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Posted By: akrish1982
Date Posted: 06/May/2011 at 6:37pm
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I am not really sure if we would have made great money if we had bought in 2000. See this:
http://www.moneycontrol.com/news/market-outlook/ramesh-damani-demystifies-money-making-maxims_513554.html there were only 2 bonuses since 2000: Jul 13 2006 1:1 Bonus Jul 4 2004 3:1 Bonus there were no stock splits. This means the adjusted price would be one eight the price in 2000. In Q1 of 2000, the price was Rs. 12,000. which is 1500 at current prices. ------------- |
Posted By: subu76
Date Posted: 06/May/2011 at 11:44am
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Knowing the business is important if my take away. Isn't it instructive that all Teddites have been wrong about the next Infy on this thread......Educomp, Pantaloon, Fin Tech etc. No wonder these things are once in a life time and very few of us will get to ride a Infy and fewer will manage to hold
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Posted By: paps3535
Date Posted: 14/Jun/2011 at 5:11pm
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Just wanted to share following info with all of you:
We all know about the growth story of Infosys. How about the stock? Let’s find out. Infosys was founded by Narayana Murthy along with some others in 1981.
It came with an IPO in 1993 at the price of Rs. 95. Everybody who applied got the shares. Many missed the Diamond opportunity by not applying. Suppose that a person applied for 100 Shares. It would cost him Rs. 9500. Let us assume that he is holding the same position till today. What will be the value now? Let us calculate. Remember that in these 17 years Infosys would have offered many dividends. Let us keep this aside and calculate the value of shares alone. Soon after IPO, Infy gave 1:1 bonus in 1994. So, our 100 shares will be 200 in 1994. Again they gave 1:1 bonus in 1996. That will take the count to 400 shares. And again in 1998 they offered bonus of 1:3 shares. That will take our count to 1600 shares. In 2000, they split the stocks (Rs. 10 FC to Rs. 5 FC). This will take our count to 3200 shares. In 2004, again they announced 1:1 bonus. It will take our count to 6400 shares. Recently, in 2006 they gave bonus shares in the ratio of 1:1. Now, the count of ours would be 12800. On 11/10/2010, I checked the CMP of Infosys. It’s Rs. 3070. So, what will be the value of our shares? 12800 x 3070 = Rs. 3,92,96,000 Yes, its Three Crores Ninety two Lakhs Ninety Six Thousand only. What other investment would have taken to this level? Real-Estate? Bank Deposit? Gold? I don’t think so. A Bank deposit of Rs. 9500 in the same year at the rate of 12% would have hardly fetched us Rs.60,000 by this time. ------------- Everything has good end.if it is not good,then it is not the end. |
Posted By: arvi2020
Date Posted: 14/Jun/2011 at 6:50pm
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Dear TED gurus, Can any one tell me the present value of 25 shares of Reliance Industries which were allotted in the initial public offer on 28.06.1975 I am unable to find the required splits and bonus data for this scrip. Thanks for sparing the time for my question. |
Posted By: itpro
Date Posted: 14/Jun/2011 at 7:14pm
But you have to spot a company for that. E.g. Patni has not grown as much. Some of the promising company of 1993 might not exists today.
Problem is how to spot it today so that after 18 years i will have 3 crore. Which company ?
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Posted By: LearningToFly
Date Posted: 14/Jun/2011 at 11:50pm
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More than spotting a company, how many of us have perseverance to wait for 18 years. ------------- Success... at all cost. |
Posted By: tejas
Date Posted: 14/Jun/2011 at 12:46pm
So True. I am perfect example. I just could not wait to take some money off the table and in Hawkins as soon as it started cooking some profits. 
Since it is a cooker company, it even cooks the profits really fast. 
I can see the same dilemma faced by other investors in other stocks hitting new highs. I guess it is a new experience for most of us and we get scared of losing the gains we see on paper. TO quote from a post by Basantji on another thread. --------------------------------------------------------- Jesse Livermore- “Men who can be both right and sit tight are uncommon. I found it the hardest things to learn. But it is only after an investor has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader (investor) after he knows how to trade then hundreds did in the days of his ignorance” Reminisces of a Stock Operator – Edwin Lefevre I call these sentences the thirteen commandments. Every investor, trader needs to go through them. These gospels from the master trader summarize the book., · Never act on tips. · Never buy a stock because it has had a big decline from its previous high. · If a stock doesn't act right don't touch it; because, being unable to tell precisely what is wrong, you cannot tell which way it is going. No diagnosis, no prognosis. No prognosis, no profit. · Don't blame the market for your losses. Never add to a losing position. A losing position means you were wrong. · Stocks are never too high for you to begin buying or too low to begin selling. But after the initial transaction, don't make a second unless the first shows you a profit. · Always sell what shows you a loss and keep what shows you a profit. · Don't argue with the tape. Do not seek to lure the profit back. Quit while the quitting is good--and cheap. · There is only one side to the stock market; and it is not the bull side or the bear side but the right side. · The speculator's chief enemies are always boredom from within. · A man must believe in himself and his judgment if he expects to make a living at this game. · Bulls and bears make money, but pigs get slaughtered · Markets are never wrong. Opinions are! ---------------------------------------------------------
------------- Earnings, Earnings, Earnings. |
Posted By: itpro
Date Posted: 14/Jun/2011 at 11:42am
| ... if i just try to reflect... I started my higher education in 1994. At that time internet was there but it was not that common. though from IT we didn't have email id. I guess most of the IT companies were having Y2k work.. ... in such scenarios who will invest in Infosys.. FMCG was the buzzz i guess at that time... |
Posted By: basant
Date Posted: 26/Jun/2011 at 10:23am
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The problem itpro is that even if one would have bought it there were several reasons to sell till the stock reached terminal value. Identifying(Buying) onto a great theme is a lot easier then riding(Holding) it. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: VALUER
Date Posted: 25/Jul/2011 at 11:46pm
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can you please explain rationale behind max india? ------------- The Value InvestoR |
Posted By: valueman
Date Posted: 29/Jul/2011 at 5:59pm
I would say it is Bilcare and kindly refer the thread on Bilcare for my explanations on the same . ------------- To achieve satisfactory investment results is easier than most people realize ; to achieve superior results is harder than it looks . Benjamin Graham. |
Posted By: VALUER
Date Posted: 29/Jul/2011 at 8:22am
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thanks sir
I shall read about Bilcare.
can any one share thoughts about bartronics,polyplex,jindal polyfilm,twilight litaka,SCI,Indswift,Indswift which are all available at a P/E (low3to 5) ------------- The Value InvestoR |
Posted By: shontou
Date Posted: 14/Sep/2011 at 9:21am
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Infy closes in on $700 mn foreign acquisition
http://www.business-standard.com/india/news/infy-closes-in700-mn-foreign-acquisition/449204/ - http://www.business-standard.com/india/news/infy-closes-in700-mn-foreign-acquisition/449204/ ------------- Every day, self-proclaimed stock market "experts" tell us why the market just went up or down, as if they really knew. So where were they yesterday? |
Posted By: shontou
Date Posted: 04/Oct/2011 at 9:36am
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Narayana Murthy runs a body shop, tweets Chetan Bhagat
http://timesofindia.indiatimes.com/india/Narayana-Murthy-runs-a-body-shop-tweets-Chetan-Bhagat/articleshow/10237098.cms - http://timesofindia.indiatimes.com/india/Narayana-Murthy-runs-a-body-shop-tweets-Chetan-Bhagat/articleshow/10237098.cms ------------- Every day, self-proclaimed stock market "experts" tell us why the market just went up or down, as if they really knew. So where were they yesterday? |
Posted By: LearningToFly
Date Posted: 05/Oct/2011 at 12:45pm
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Bhagat's comment is in very bad taste. Building a 5 billion USD company is not a joke. By the way, what is wrong with bodyshopping? If walmart runs a grocery store, we take it in our MBA class and discuss it with salivating mouth. But when one of us does it, it is despised. Don't all consulting firms do it. Did we invent this "bodyshopping", "code coolie" terms just because Indians (or third world does it). When China does great in manufacturing, western media calls it sweat shop. When India does good in IT, it is called bodyshop. I am sure if one of the western countries would have done the same what India did in IT, it would have been called knowledge consulting or such stuff. Fact is Narayan Murthy is one of the greatest Indian or businessman today who built a behemoth in 20 years. This is an astounding feat to achieve.
------------- Success... at all cost. |
Posted By: subu76
Date Posted: 05/Oct/2011 at 12:47pm
Chetan Bhagat needs to do his bit to earn a living writing columns and speaking on TV about any subject under the sun 
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Posted By: manish_okhade
Date Posted: 05/Oct/2011 at 1:01pm
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As a matter of fact IT sector has brought much of prosperity to Indian middle class and opened the door to the world. Founders have made a great organization and investors are made rich.
BUT cruel fact is remain, IT sector has not elevated the prestige or self-respect of Indian techie. He remain shudder day in/out from a voice coming from 7 seas away over phone for delivery issues. He can not shout or dictate any customer on business term unlike APPLE, MICROSOFT, ADOBE etc. :-(. |
Posted By: itpro
Date Posted: 05/Oct/2011 at 2:06pm
Whatever it may be finally its body shopping only. What private sector has done for investing in the quality of education ? Being an insider to these IT company... i know that they spend very little on R&D. He is talking of quality of IIT'ians... but is the work/R&D in these companies matching quality required from IIT'ian. I don't think so... Not a single product from these companies...
p.s. i am not an iitian.
moreover no doubt NArayan murthy has build a great institution... but as he says.. IIT'an quality is bad... same way... these institutes are also.. bodyshopping for majority of the work.
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Posted By: manish_okhade
Date Posted: 05/Oct/2011 at 2:10pm
One should ask him how many IITians INFY hires :-)? Answer will comfort him that drop in IIT quality is not cause of concern for INFY. |
Posted By: subu76
Date Posted: 05/Oct/2011 at 7:08pm
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I think Infy's contribution to Indian tech industry is immaterial to the discussion about the quality of students coming out of IITs. |
Posted By: vaib
Date Posted: 05/Oct/2011 at 11:35pm
| But the weight-age to murthi's words is given because he is supposed to be the icon of technology in India. What is his benchmark of calling 80% of IIT students as worthless. Does he want license raj situation in tuition? How about removing reservation of 49%? All showmanship and no concrete facts that's what my conclusion is. Nobody can snatch intelligence from a person. It is saying like because there has been no more Einstein past 80 years human race is going dumber. |
Posted By: subu76
Date Posted: 05/Oct/2011 at 10:13am
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BTW have you guys been observing IIT passouts for the last 10-15 years?
Is your observation different?
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Posted By: FutureBull
Date Posted: 05/Oct/2011 at 11:40am
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I just wonder what stops Infy to not develop non-linear business. Why do they need to hire mind-boggling number of grads to keep growing.
- They have huge cash balance which can be used to buy software company/product or develop in-house. Either they don't want to dilute returns for short term or don't have ability at all. I think it is a combination of both. - These guys go and hire from so many unknown colleges. Do we need to believe that these colleges have better talent than IITs. We also know how HR folks make money by visiting these colleges. - These guys burn huge cash in building monumental campuses but can't spend on acquisitions or pay IITians to develop in-house products. Need to learn from IBM/Accenture on this. Google/MS/Apple build campuses too but they needed to provide exclusive environment for innovation. This company believes in building it for low level jobs nor it generates employee loyalty to a great extent. - Edelweiss came out with a good report on Infy 2yrs back and they had said that these guys do not have ability to build Enterprise soft biz in SAP and that has been perfect observation. Accenture/IBM even CTS has this business but Infy is a big failure in breaking it. All these companies built it with Indian talent only. I believe TCS/CMC and GE are the pioneers of the Indian IT but Infy got all the limelight due to fantastic returns, beautiful campuses and ethical/honest management. It does deserve credit for bringing focus/attention of policy makers in India, rewarding employees well and sharing wealth in general. ------------- ‘The market always does what it’s supposed to — BUT NEVER WHEN’. |
Posted By: subu76
Date Posted: 06/Oct/2011 at 1:18pm
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FutureBull, in the finance sector are they ahead of all competition or do you see threats in that area as well?
I'm not sure they can hire a lot of folks from premier colleges paying the salaries they pay...and if they can hire can they retain them or motivate them? Earlier the prospects of foreign travel would be extremely enticing but now even that has lost it's sheen.
I remember in 2000 Wipro was hotter by virtue of it's exposure to the telecom/networking domains where Infy was barely exposed.
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Posted By: FutureBull
Date Posted: 06/Oct/2011 at 1:59pm
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In finance vertical TCS' % exposure is high(43%). TCS has much better and fuller offerings in fin. Infy has one banking product which is doing well and that's the only successful product they made in so many yrs. TCS has many in different verticals(mfg,telecom etc) which started paying off now. I do not think they face a threat in BFSI area. Infy is also strong in retail & telecom verticals. They have lagged big time in manufacturing and probably lost the race. This is where maximum new investment is happening. One would know that mfg. sector has always been laggard in adopting new technologies while Banking/Insurance , media & retail were ahead always. Satyam, TCS and Wipro are strong in mfg. but IMHO Wipro and MahSatyam are avoid at the moment. Wipro has lost its way while Satyam went into wrong hands. IT sector is tricky at the moment. TCS at lower levels is the only good bet as of now. Cognizant and iGate+Patni combined is my fav. along with eClerx. ------------- ‘The market always does what it’s supposed to — BUT NEVER WHEN’. |
Posted By: subu76
Date Posted: 06/Oct/2011 at 2:12pm
| IT sector is tricky for sure....remember how Infy was the darling a few years back and now it can't do anything right. TCS however has smartly reversed the crowd perception |
Posted By: FutureBull
Date Posted: 06/Oct/2011 at 2:33pm
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Subuji, this can still become fav. when Mr. Kamath announces a big acquisition and shakes the sloppy top management to start working aggressively again. Mr. Ramadoroi had been great asset for TCS. ------------- ‘The market always does what it’s supposed to — BUT NEVER WHEN’. |
Posted By: lbshs
Date Posted: 12/Mar/2012 at 7:32pm
IT Service as a business of TCS, INFY, CMC is a failure ! Why ?? Because no doubt they have grown but so have IBM's of the world who are eating into the margins and business of Indian IT giants like anything. It is a matter of few more years the IT industry will remain with the World biggies and the likes of INFY will either get bought out or perish. Wait next 5-8 years ! Service alone can not be high margin business. Products, innovation has to be the core.
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Posted By: vasantcool
Date Posted: 12/Mar/2012 at 6:52am
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"Wait next 5-8 years ! Service alone can not be high margin business. Products, innovation has to be the core."
Second this. ------------- Have fun! |
Posted By: ameydesai
Date Posted: 01/Apr/2012 at 2:39pm
I beg to differ with you - I have been to the campuses of Infosys, Wipro, TCS, IBM, Cognizant, Accenture, Capgemini ..... In comaparison - Infy & Wipro have some of the best infrastructure and had it not been for Google - Infy still has one of the most exciting campuses .... As u said Infy and Wipro invest in fixed assets by creating their own land bank, buildings, but they are creating a sustainable base by owning the land they work on & supporting Local self government on development initiatives ..... TCS & IBM on other hand lease properties like mad - they have 2 floors in one building, 3 floors in another and 5 floors in the third .... This also necessitates a lot of Infra Structure management staff ... I agree that leasing as against owning Fixed assets has helped TCS utilize that cash for investment & hence generate a lot of returns for their shareholder - in fact I am a TCS shareholder, but when the testing times comes, companies will have to play the volume game - in fact that has already started - margins in IT services, Software and BPO are fast shrinking ..... companies are fast shifting their delivery centres from India to Mexico, Vietnam, Hungary, Romania, Philipines, Guatemala etc ..... whatever happens to IT, Software & BPO margins - players like IBM & Accenture will still stay afloat because they are seen more as consultants than as IT, Software or BPO service providers .... and consulting cash flows of both are assured for atleast a decade more considering some of the real long term projects they have in their hands with some Core Industry behemoths ..... Infy is also developing itself as a consultant - although the speed is slow ....on the other hand they are actually creating a lot of fixed assets to bail themselves out in testing times, so is Wipro - TCS need not fear alike - they have their parent in form of Tata Sons to bail them out .... Cognizant is aware of this scenario and hence is growing itself inorganically at maddening pace .... to avoid being taken over ------------- Arise, Awake and Stop Not till the Goal is reached |
Posted By: koolvalue
Date Posted: 01/Apr/2012 at 3:37pm
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Actually it is improper to classify IT companies as technology.They are more like commodity play now.
Tadays IT reminds me of textile industry in late ninenties which was dependant on huge manpower extensively and any improvement/addition to business was linked to adding head counts.When actual technology evolved all these man power and related infrastucture became redundant and mill compunds started looking like out of use stores. We can expect something similar to happen to IT over next decade where revolutionary technology will change the way industry works and humanpower will become insignificant. |
Posted By: Hrishi
Date Posted: 01/Apr/2012 at 4:17pm
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This is clearly over negativity for IT services.
These companies managed Post Dot era and came out well. They managed over negativity on out sourcing well and not got whacked. This will be another transition for them may be longer may be tougher. But that is what companies driven by good mgmt will do. Some will perish but this Textile stuff is little too much. If one sitting here understand this do you think the best of brains fail to see it. Also there is second wave of transition coming up in IT, towards c l o u d computing, Convergence, Professionalization and this is next 10+ yrs of transition with huge opportunities. In 10 yrs world will be different place, and so will be IT landscape but it is not surely ending. |
Posted By: ameydesai
Date Posted: 11/Apr/2012 at 7:13pm
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when is the earnings call?
what are the conference call details? ------------- Arise, Awake and Stop Not till the Goal is reached |
Posted By: Shiv R
Date Posted: 13/Apr/2012 at 4:15pm
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infosys down by 12 pct... http://in.reuters.com/article/2012/04/13/infosys-result-quarterly-outsourcing-pro-idINDEE83C01G20120413 - http://in.reuters.com/article/2012/04/13/infosys-result-quarterly-outsourcing-pro-idINDEE83C01G20120413 |
Posted By: shontou
Date Posted: 13/Apr/2012 at 11:34pm
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Conference Call
Infosys EBIT margins are expected to fall by 200bps in Q1 FY13 and between 50-100bps in FY13 Infosys Technologies (Infosys) held its conference call after it announced its Q4 FY 2012 and FY12 results. SD Shibulal, CEO and Managing Director and V Balakrishnan, CFO, along with other members of senior management team addressed the call. According to management, Q4 has been a challenging and difficult quarter for the company and this is the new normal where the environment is volatile. There has been delay in contract closures due to slow decision making. The company normally has 95% visibility for the quarter and 65% for the year. First two months of the quarter were okay but not great but last month saw confluence of events including no ramp-ups as well as ramp downs especially in Financial services and North America which resulted in revenue miss against the guidance for the quarter. There was also leadership changes in some key accounts. There is greater dependency on discretionary spend as more than 30% of revenues are from Consulting and System integration and average life span of the discretionary spend is about three-four quarter and every quarter there is a review. There are lesser regulatory requirements for Financial services clients as compared to earlier expectations, hence there is lesser spending. Also, there is now zero base budgets and being set on monthly basis. IT budgets are expected to be flat to marginally down. There is good visibility on budgets but very low visibility on spending. Pricing is expected to be stable and growth is largely expected to be volume based. The company plans to hire 35000 professionals in FY13 which includes 13000 for BPO. Tax rate is expected to be 28-28.5% for FY13 as compared to current 28% and CAPEX is expected to be Rs 2000 crore. Pricing declined 1.1% sequentially but grew 4.7% on y-o-y basis. Volumes declined 1.5% q-o-q but grew 11.1% y-o-y. EBIT margins declined by 1.1% during Q4 to 29.8% from 31% due to currency as rupee appreciated by 2.7% from Rs 51.37/$ to Rs 49.96/$. However, as rupee depreciated 5.6% during FY12, there was 2.3% positive impact on margins which was negated by 4% decline in utilization apart from increase in other costs. The quarter saw 5 deal wins including 3 large ones, greater than $100 million. Also, three of the large deals were from US. There were also 7 business transformation wins. Product, platform and solutions which is sticky and non linear business contributed around $25 million in revenues and exceeded $350 million of TCV for full year. EBIT margins are expected to fall by 200bps in Q1 FY13 due to visa costs and onsite hiring of 1200 professionals and between 50-100bps in FY13 entirely due to fall in utilization as hiring may exceed growth. The guidance does not factor in increase in salary. Operating cash flow to revenues stood at 25% and Return on capital employed at 40%. The company has hired 1200 onsite professionals during last 18 months. The salary increase has not yet been finalized which will be decided during middle of year. In US, there is resurgence in manufacturing due to low fuel costs and it is confident in Financial services. There is traction seen in Consulting and Products, platforms and solutions. Overall, steady growth is seen in Europe while situation is daunting and challenges still there. There has been fall in retail sales and shrinkage in manufacturing even in Germany. Financial services is getting into stable mode. Some IT budgets are down 5-10% and very few are down even 20%. ------------- Every day, self-proclaimed stock market "experts" tell us why the market just went up or down, as if they really knew. So where were they yesterday? |
Posted By: FutureBull
Date Posted: 13/Apr/2012 at 10:38am
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It is very strange that within same sector companies provide different picture of the market. Wipro was providing similar kind of excuses few qtrs back but they realised in time that it was leadership and strategic direction. How much time Infy would take? I guess probably longer as market is little more forgiving given past record. I remain critical of the current leadership who seem to more interested in starting/funding new ventures and doing charities. Serious shake up is required which was expected from Mr. Kamath. I think he has also taken it easy after years of hard work in corp. life. ------------- ‘The market always does what it’s supposed to — BUT NEVER WHEN’. |
Posted By: vasantcool
Date Posted: 13/Apr/2012 at 11:14am
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Dear FutureBull,
The whole model of staffing using manpower doing discretionary projects is under stress. IT companies have been greedy and never invested in future capabilities, products, strategic domain consulting. they do lowest end of the work in any MNC organization. As the differential in billing/salary rates is too high, they have been enjoying this arbitrage. If they had to work in a competitive environment like manufacturing, most of these would have closed down by now. Infosys, the company with 20,000 crores in cash, is not willing to come out with US banking version of Finacle (the only respectable Indian IT product), because that needs substantial investment. From 1986 to 1997, Finacle unit was in loss but Nandan persisted with it and got handsome results. Now every management wants only higher revenue/profites on Q-0Q basis with zero investments. This is resulting in implementation failure in US. But this is the story of only product that we got. Apart from that, all other IT companies including Infy are shy of any investment in domain knowledge, client's business knowledge, deep technical expertise, only thing they know is to hire. How will the business grow over longer term? Been here for long, could not change mentality of zero spend on knowledge and higher profits. 20000 crores is idle cash and not even 2000 being spent in building future strategic capabilities. Where do you see this blindness? In another 5 years, Indian offshoring IT WILL DIE. May be start ups will make change the landscape. May be not. But current operating strategy of Wipro, TCS, INFY is dying. May be Cognizant will survive a little longer. ------------- Have fun! |
Posted By: ameydesai
Date Posted: 14/Apr/2012 at 1:36am
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@vasantcool
well written - what would u say about Indian BPOs?
for e.g. - Genpact ? ------------- Arise, Awake and Stop Not till the Goal is reached |
Posted By: harrys_67
Date Posted: 14/Apr/2012 at 8:22am
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Vasantcool , this is an extremely uncharitable analyses of Indian IT industry....they have done great work...even in case of Infy (and some others like Wipro etc) they are doing some cutting edge research ...why you think Airtel chose Infy i/o IBM who has been handling its rest of outsourced effort....please make effort and read about them rather than just comment ...yes there is a huge amount of work on Arbitrage ..so why not...opportunity goes to the lowest bidder ...like water seeks out low levels on its own...its business...
even Infosys has got affected...as some decision makers in its clients may have taken a view that there is no diff b/w a TCS, HCL , INFY etc ...but Infosys doesnt take contracts which give it less than 23% net margin....peace..and many other things like these none of these will DIE in 5 years ...they will become much larger and more mature businesses ..where big time money making for investors wont happen... ------------- harrys |
Posted By: vasantcool
Date Posted: 14/Apr/2012 at 9:23am
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1. Some IT companies are doing some work in Product Engineering Services but that is less than 10% of its revenue. Again, that is not R&D expense being done to come out with new products, rather work along with Client R&D and there also, a good portion, to supply people to augment R&D projects being envisioned, directed, managed by clients. What is the next generation R&D product Wipro is likely to come out with in the next 12 months on its own? If it is for the client then Wipro does not get any benefit. None. Infy is not even there as a leader even amongst contractors in PES space. 2. Mobile Wallet project given by airtel is a small project. I will indeed be happy if Indian IT gets the entire software including systems and core apps in one mobile phone, be it Windows or apple or android. But I feel sad that that may not happen. 2. The R&D Labs, formed with much fanfare, has become only a show piece. The % expense & % number on people in R&D Lab is only decreasing compared to 2005. Today, it is a good thing to talk to clients about it but nothing really comes out of it that can be sold/implemented across wider client base. After 4000 man years of Labs in one company, tell me one product that you have heard of in the market place? It is some sort of glorified bench rather. Opto Circuit may be doing much better research IT and Medical assisted devices. 3. We read yesterday, 67% people on billable assignments. 33% completely idle. Which company can afford 40,000 + people on bench. The instagram sale to facebook for $1 billion had 13 employees. For a moment imagine that there is no arbitrage in US dollar being. Will we do this business? It did not make much commercial sense from 1984-1997 except for entrepreneurial mindset and "kuch karna hai attitude". Plus it was ability to work from offshore and charge US dollars that made huge growth from 1998-2007. This decade is over. And so is mindset. We can go on and on. But to talk in a public forum without knowing who is talking to whom, may not be of much use. Well, if you trust me, I have discussed these concerns with senior managements of most of the companies and they KNOW it. It is some sort of rut. If this was not Q-o-Q reporting, many of these would have done something extraordinary. I agree, some of these folks are truly extra-ordinary thinkers, great leaders, but their hand and legs are tied because so called investors like me want immediate gratification and not wait for 3-5 years. To cut a long story short, there will be not much difference in Mafoi, TeamLease and IT companies in 5 years. None wants to change their business model calculating revenue, based on billing hours, though they do talk. HCL Tech is trying to do something in Infra space. Let us wait and see. They may not die, agree, but I do not see any money for investors. Please see that per dollar revenue has not increased much or at all in 15 years but average salaries have gone by by at least 4-5 times. This 23% margin is only going to contract, my dear friend. Disclaimer - No stock in any Indian IT companies or Opto Circuit. ------------- Have fun! |
Posted By: FutureBull
Date Posted: 14/Apr/2012 at 9:34am
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I agree there is no existential threat to INFY. The debate should be why is it losing leadership position despite all signals being clear for last 2 yrs. Now they don't want to give any annual hike to employees. This is simply mind-boggling. How do they justify not rewarding shareholders by not giving higher div. or higher hikes to employees when 20k cr is lying idle? They can't afford to let talent go at this stage. This 20k cr is lying idle for so long actually eroding value by inflation and meagre returns on this cash pile. It increasingly looks like the leadership was all hollow after NRN, Nandan Nilekani. They lost opportunity by bringing Mr. Kamath, an outsider from withing IT industry at this stage might have been risky but worth taking it. The worry for all of us is its index weightage. More and more index components are showing signs of stagnation. Other than this, I have no interest in this stock. ------------- ‘The market always does what it’s supposed to — BUT NEVER WHEN’. |
Posted By: vasantcool
Date Posted: 14/Apr/2012 at 9:55am
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AmeyDesai,
The days of Indian BPOs.... Have fun (as an investor) while it lasts. Eclerx had a great model but they do not have great Sales Force. Buying this media BPO will make them bleed. GenPact is sincerely trying to change the business model, bringing IT tools and value adds. The problem is their client number 1, GE. GE is best when it comes to outsource. If Genpact saves some money, GE wants most of it. Also GE threatens to diversify their vendor base and Genpact cannot afford it. Most of the GE contracts are due for renewal, forcing Genpact to work harder. But Genpact, as it seems to me, are trying to be different and may succeed. ------------- Have fun! |
Posted By: ameydesai
Date Posted: 15/Apr/2012 at 2:31am
thanks vasantcool .... i feel the biggest problem with Genpact is that - they are not trying to offer bundled solutions - clients nowadays want more than process outsourcing - they want the same vendor to handle their IT support as well as to service their technology platform, this is exactly where Genpact fails - they try to sail the same old wine (read Lean & Six Sigma) in new bottles - End to End in 2009, Smart Enterprise Process in 2011 and Intelligent processes in 2012-13. they have made some good aquisitions e.g. Headstrong & Empower which will add cross sells to their kitty, but what they need now is an IT aquisition atleast as a support base to their BPO model - which means they may not develop IT products but atleast maintain customer IT ------------- Arise, Awake and Stop Not till the Goal is reached |
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|
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