Dec 17, 2012, 08.25 AM IST
China's domestic software industry has started to attract more local consumers, with revenues touching USD 311 billion in first ten months of the year, Chinese official media reported.
Chinese software and operating systems for servers are meeting the industry's needs after years of development, as 75 percent of domestic business users are satisfied with the software they are using, state run Xinhua news agency quoted Gao Zhiyang, deputy director of the China Software Testing Center (CSTC), as saying.
In terms of certain criteria and standards, a number of domestic developers are nearing or even overtaking their foreign counterparts, he said.
In the first ten months of the year, business revenues for China's software sector surged 25.8 percent year on year to 1.96 trillion yuan ( USD 311 billion) , according to a report released by the CSTC.
Several India software firms have been making efforts to gain control of China's software market . While TCS is firmly entrenched with several local government contracts, others including Infosys and WIPRO relied mostly on contracts from multinationals in that country.
India has been pressuring China to open up the software market to address the trade imbalance between the two countries. The software sector in China, however, is still dealing with unstable software performance and an inefficient quality management system.
Some companies still lack innovation and rely heavily on overseas markets for core technology, Gao said. Gao called for more efforts related to copyright protection and a better management system for the healthier growth of the sector.
TCS stock price
On December 06, 2013, Tata Consultancy Services closed at Rs 1999.95, up Rs 9.80, or 0.49 percent. The 52-week high of the share was Rs 2258.05 and the 52-week low was Rs 1197.60.
The company's trailing 12-month (TTM) EPS was at Rs 77.28 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 25.88. The latest book value of the company is Rs 165.73 per share. At current value, the price-to-book value of the company is 12.07.
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