Indian Outsourcers Shrug Off Satyam (SAY) Fraud

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.

See Also:
Hey, PwC, How Are You Going To Explain This Satyam Thing
Satyam Chairman: We’re Just A Gigantic Fraud, Too

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