Apr 25, 2007

Satyam allies with Temenos for banking system

IT major Satyam Computer Services announced that it has forged a strategic alliance with Temenos, a Switzerland-based provider of integrated core banking systems, to implement a modular core banking system.

Satyam said in a communiqué to the Bombay Stock Exchange that it will help banks around the world leverage T24 to manage operations more efficiently, increase flexibility and enhance customer service.

"This alliance enables Satyam to help Temenos implement and serve as systems integrator for T24, which is recognised as the world's most technically advanced banking system," Satyam Global Banking Head Peter Swears said.

We look forward to enabling banks to gain optimal value from robust Temenos products, end to ensuring that they can leverage the software to accommodate requirements well into the future, he added.

Stock Outlook : ( Postive for long term )

Satyam Computer has posted Above expected Q4 numbers but the effect of declining dollar will come into play in coming quaters & margins will have an impact due to which the bottomline might get squezed.

There might be still some downside left in the stock if dollar slip further & we might see a silent result in the coming quarter.

For investors, wait for sometime see what is the dollar effect & then take position in the stock for long term or short term.

BUY SATYAM -- TARGET -- 510 + ( 3 to 6 months hold )
TARGET -- 550 + ( 8 to 12 months hold )

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