Ness Technologies (NSTC) is a global provider of IT services. The company recently announced a multi-million dollar contract win from Latin American government. Under this contract, Ness will provide Control command and Control system to the Latin American Government.

Although this contract is expected to positively influence the revenue stream of the company going forward, but there is no clear indication about the commencement of cash flow from it. We do not expect this contract win to provide immediate support to the company's downward moving revenue flow.

This apart, Ness faces intense competition from many established firms such as Accenture (ACN), IBM (IBM), Hewlett Packard (HPQ), Wipro (WIT), Cognizant Technology (CTSH), Computer Sciences Corp. (CSC), HCL, Electronic Data Systems, GlobalLogic, Virtusa (VRTU), Persistent and Symphony Services, which is making it tough for the company to gain additional market share. The

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Shares in India's Infosys Technologies Limited (INFY) dropped more than 4% on Friday morning after Axon Group PLC rejected its takeover bid for a higher offer from HCL. Axon stated on Thursday it gave IT outsourcing giant, Infosys, a 60 hours deadline to consider the higher HCL proposal before it shifted its recommendation.

However, shares of INFY moved higher by midday and are currently down by less than 1%.

"INFY" Free Stock Analysis: Buy? Sell? Hold?Zacks Investment Research