NASDAQ-listed iGate today said its net income more than doubled to USD 32.2 million in the October-December quarter of 2012 on the back of corporate restructuring and strong customer additions.
A year after it completed the acquisition of Patni Computer, iGATE Corporation on Monday announced new identity, dropping Patni from its brand name.
Software services firm iGate will wait for three days before deciding on course of action in relation to the delisting of Patni Computer Systems, CNBC-TV18 said Tuesday, quoting iGate CEO Phaneesh Murthy.
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Patni Computer has fair value around Rs 550, says SP Tulsian, sptulsian.com.
Patni Computer Systems has reported a sales turnover of Rs 616.45 crore and a net profit of Rs 149.97 crore for the quarter ended Dec '11
SP Tulsian of sptulsian.com is of the view that there is not much upside in Patni Computer from here on.
SP Tulsian of sptulsian.com advices investor to exit from Patni Computer around Rs 430- 440, if one is holding position in it.
Rajesh Agarwal of Eastern Financiers feels that one should buy Patni Computer for short term.
Salil Sharma of Kapoor Sharma and Company is positive on Reliance Industries, Ultratech Cement, Tata Motors and Patni Computers.
Patni Computer has target of Rs 315, says Abhishek Agarwal of Fortune Interfinance.
KR Choksey has come out with its earning estimates on IT sector for the quarter ended September 2011. According to the research firm, Patni Computer September quarter net sales are expected to go up by 4% at Rs 855 crore, quarter-on-quarter, (QoQ) basis.
Motilal Oswal has come out with its earning estimates on IT sector for the quarter ended September 2011. According to the research firm, Patni Computer September quarter net revenue is expected to go up by 4% at Rs 854.7 crore, quarter-on-quarter, QoQ basis.
Abhishek Agarwal of Fortune Interfinance feels that one should invest in Patni Computer.
Stocks of information technology companies like Infosys, Tata Consultancy Services, Wipro, Tech Mahindra, Mahindra Satyam and Patni Computer tumbled 3-6% on Friday due to fresh concerns on a likely double-dip recession in the US and spread of the Euro zone crisis.
KRChoksey is bearish on Patni Computer and has recommended reduce rating on the stock with a target of Rs 329 in its August 4, 2011 research report.
Fears of possible recession in the US led to investors selling off heavily the stocks of Indian IT companies in a weak market and blue-chips like TCS, Infosys and Wipro plunged sharply on the bourses.
Jagannadham Thunuguntla of SMC Global feels that one should sell Patni Computer.
Patni Computer has reported consolidated net loss of Rs 51.5 crore in the quarter ended June 2011 (Q2 CY11), as per Indian GAAP.
Market Expert Rajesh Jain has recommended investing in Patni Computer.
UBS maintains a "NEUTRAL" stance on Patni Computer but have cut the target to Rs 380 from Rs 475.
Patni Computer may rally upto Rs 450 in one year time horizon, says SP Tulsian, sptulsian.com.
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Hemen Kapadia, Technical Analyst, chartpundit.com has recommended buying Patni Computer.