We thought everyone might run for the exits after news of the gigantic Satyam (SAY) fraud hit, but the company’s peers are taking the news alright. In pre-market activity, shares of Wipro (WIT), Patni (PTI) and InfoSys (INFY) were all down this morning, but at mid-day the news isn’t having a huge impact.
InfoSys is actually up a few percentage points, while the others are a little in the red. The initial verdict seems to be that Satyam’s fraud is a Satyam-specific problem, and not reflect of corporate India or the Indian consulting/outsourcing business specifically.
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