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Patni Computer shares down by 8 percent
By siliconindia
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Tuesday, 03 May 2011, 23:43 IST
Bangalore: Patni Computer System was among the top losers after its price went down by nearly 8 percent. After opening the day at 
435, the stock touched its 52 week low of 395.25, before closing the trade at 430.95, with a loss of 7.73 percent. Through the day, 70051 shares of Patni Computers were traded in the market with a PE ration of 7.88.
Patni Computer is a provider of information technology (IT) services. It delivers a range of IT services through globally integrated onsite and offshore delivery locations primarily in India, which it calls its global delivery model. Patni offers its services to customers through industry-focused practices, including insurance, manufacturing retail and distribution, financial services and communications, media and utilities, and through technology-focused practices. Its service lines include application development, application maintenance and support, packaged software implementation, infrastructure management services, product engineering services, business process outsourcing and quality assurance services.
Patni Computer Systems has reported a near 33 percent fall in net income sequentially for the quarter ended 31 March. Net income for the January-March period fell to 117.98 crore from 176.46 crore in the October-December period. Out of 28 analysts following the stock, 11 are recommending holding the stock and 7 are recommending buying. The consensus recommendation is holding the stock.
435, the stock touched its 52 week low of 395.25, before closing the trade at 430.95, with a loss of 7.73 percent. Through the day, 70051 shares of Patni Computers were traded in the market with a PE ration of 7.88.
Patni Computer is a provider of information technology (IT) services. It delivers a range of IT services through globally integrated onsite and offshore delivery locations primarily in India, which it calls its global delivery model. Patni offers its services to customers through industry-focused practices, including insurance, manufacturing retail and distribution, financial services and communications, media and utilities, and through technology-focused practices. Its service lines include application development, application maintenance and support, packaged software implementation, infrastructure management services, product engineering services, business process outsourcing and quality assurance services.
Patni Computer Systems has reported a near 33 percent fall in net income sequentially for the quarter ended 31 March. Net income for the January-March period fell to 117.98 crore from 176.46 crore in the October-December period. Out of 28 analysts following the stock, 11 are recommending holding the stock and 7 are recommending buying. The consensus recommendation is holding the stock.
