indTree Consulting has two divisions: Information Technologies Services (IT Services) contributed 76%, and research and development services (R&D Services) contributing 24% of the total revenue in the nine months ended December 2006. IT Services focusses on manufacturing ( 30.1%), travel and transportation (22.6%), banking financial services and insurance (BFSI) (17%) and hi-technology (18.5%).
In September 2004, MindTree took over the software divisions of ASAP Solutions and its subsidiary, Arachno Solutions, providing SAP implementation and maintenance, data management and customised application development in Asia and the US. In June 2005, it snapped Linc Software Services, which is into application development and maintenance, ERP product support and web development. In January 2007, MindTree signed a no-binding term-sheet to acquire an IC design company for an all-cash consideration.
MindTree reported a net profit of Rs 65.50 crore for April - December 2006 on revenue of Rs 433.79 crore. The net profit in the first nine months surpassed last full year's net profit of Rs 53.76 crore
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Markets had an excuse of a global meltdown during the session last week but this week there was really no excuse. The there was none this week but the market itself. The Budget repercussions were felt this week and it stood out as the stand off between the cement manufacturers and the Government. The Industry was adamant at the not so logical way of the Government to cool prices. There was a war of words and threats. Finally the Industry backed off. Its yet another debacle for a economics where populism seems to have won. There is a faint hope though that the Government will roll back the excise duty. But hope is on what the markets live on. Global markets was the ripples of Yen carry trades getting unwound. Japan was down on worries of strong yen hitting export business. Other markets were down on worries that cheap Yen funds getting withdrawn. Later part of the week however saw stability. We have been mentioning about this increased interest rates in Japan for months now. However even we were surprised at the ferocity of the fall. Clearly the direction was down. Metals and cement crash added fuel to fire. Indian Markets showed strong recovery on Thursday with the cement controversy behind it. However Friday had another disaster in store from the Commerce Minister. The less said about it the better. The markets will now price in worries from Politics where the Congress seems to be acting in panic and that has clouded sound judgement. We have seen the impact of such decisions on Power sector where capacities have not come simply because the investment returns were killed by free power for farmer. The Fertiliser sector was killed with returns not justified. The story goes on with sugar and now.. its the cement sector. Rs 45000 cr of investments in Cement could get jeopardised is the Government acts the way it is doing.. and the loser will be the economic growth.
Inflation is numbers remained a worry. Inflation for the week ended January 24 rose to 6.10% against expectation of less than 6%. Various steps have been taken but thats really not having an impact. The real impact will be felt in a matter of a month we believe. There is a base effect there. Supply side issue also needs to be tackled well.
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"Dreams are not the ones you see when you sleep but are those which never let you sleep till they are achieved
