Wipro Ltd. (WIT), India's No. 3 outsourcing company, won a three-year IT services contract to provide SAP enterprise applications management services to Aquarion Water Company, one of the largest water utilities in the United States.

Under the agreement, Wipro will provide its competency-based FlexDelivery model in conjunction with Run SAP Methodology to provide business, technical and service delivery management support.

Wipro's innovative FlexDelivery model to manage the enterprise application landscape has been deployed by more than 34 customers to handle complexity and criticality of environment and business processes, variability in work volume typical in application maintenance and support engagements. The delivery is rendered from globally-located FlexDelivery centers using standardized platform of tools and processes with teams aligned by competency. FlexDelivery has led to 10-15% improvement in service level and end-user experience.

Wipro is a global provider of IT services, software solutions, and research and development (R&D) services. It has development centers

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Company leaders are compelled to creatively move their businesses to profitability by unloading excess baggage and looking for new markets. Hence, a growing number of companies are divesting to achieve a leaner structure and at the same time looking for new markets to tap into.

IT Outsourcing Providers Tap into Domestic Market

With the current pressures faced even by Outsourcing Providers especially the IT service providers as the demand for it this year is expected to decline by 1.7 percent according to Gartner, they are continually challenged to develop sharper eyes for new markets to target and new ways to make it more cost competitive.

Infosys Technologies Limited (NASDAQ:INFY) and Wipro (NYSE:WIT) are tying up with rural service providers to be able to create a service offering for India’s domestic market. By recruiting rural talents, Infosys and Wipro will be able to

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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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For Immediate Release

Chicago, IL - June 24, 2009 - Zacks Equity Research highlights El Paso Corp. (EP) as the Bull of the Day and Cadence Design Systems (CDNS) the Bear of the Day. In addition, Zacks Equity Research provides analysis on ICICI Bank (IBN), Infosys (INFY) and Wipro (WIT).

Full analysis of all these stocks is available at http://at.zacks.com/?id=2676.

Here is a synopsis of all five stocks:

Bull of the Day:

We are maintaining our Buy recommendation on El Paso Corp. (EP) but are lowering our target price from $13.00 to $12.00 per share. The stock is up roughly 60% since March as worries of liquidity and execution risk on its backlog of pipeline projects has been alleviated due to the normalization of capital markets and indications of a stabilizing U.S.

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For Immediate Release

Chicago, IL - June 16, 2009 - Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Infosys (INFY), Wipro (WIT), ICICI (IBN), HDFC (HDB) and Tata Motors (TTM).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Monday's Analyst Blog:

Indian Market Still Attractive

The Indian Stock Market has gone up sharply in the recent weeks based on high expectations from the re-elected United Progressive Alliance government, (this time with a record mandate), which promised to bring about high economic growth by opening up foreign investment and boosting infrastructure spending.

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The Indian Stock Market has gone up sharply in the recent weeks based on high expectations from the re-elected United Progressive Alliance government, (this time with a record mandate), which promised to bring about high economic growth by opening up foreign investment and boosting infrastructure spending.The Bombay Sensex is now at around 15000, almost double from the bottom hit in November 2008. The rally has been broad-based, with shares of Indian ADRs of software companies like Infosys (INFY) and Wipro (WIT), banks like ICICI (IBN) and HDFC (HDB) and automobile companies like Tata Motors (TTM) up sharply.Foreign institutional investors (FIIs) have invested more than $5 billion (over Rs 25,000 crore) in Indian stock markets so far this calendar year, with as much as $3.2 billion coming since the UPA government came to power last month, which is one of the ...

For Immediate Release

Chicago, IL - April 14, 2009 - Zacks.com announces the latest Industry Outlook. Today's outlook from Zacks Equity Research analyst Abdul Saleh discusses the Business Process Outsourcing sector. Highlighted stocks include: Cognizant Tech (CTSH), Genpact (G), Infosys (INFY) and Wipro (WIT).

Here is the latest on the Business Process Outsourcing (BPO) sector:

Among the major players in the IT Services sector, the percentage of total revenues derived from the financial services vertical is split between Cognizant Tech (CTSH) and Genpact (G) at roughly 45%, 43% for Tata Consultancy Services (TCS), 35% for Infosys (INFY) and approx. 25% for Wipro (WIT).

Given that a major portion of this exposure (more for the application outsourcing firms and less for the BPO firms) can potentially come from discretionary software development and other projects, the concerns raised about the

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The current global economic and market downturn has taken its toll on the IT Services group as a whole. The Business Process Outsourcing (BPO) companies were all under significant pressure even before the economic malaise, with a slowdown in its growth trajectory.

In other words, the BPO companies were all trading with an early 2009 growth/recovery story in mind. However, this thesis is now undergoing some re-evaluation, given that overall recovery prospects are being pushed towards the latter half of 2009 or early-2010.

The current financial market fallout adds further uncertainty to their growth picture, with roughly 50% of market cap already shaved off for the BPO companies since the fallout -- relative to its 52-week high, Cognizant Tech (

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The current global economic and market downturn has taken its toll on the IT Services group as a whole. The Business Process Outsourcing (BPO) companies were all under significant pressure even before the economic malaise, with a slowdown in its growth trajectory.

In other words, the BPO companies were all trading with an early 2009 growth/recovery story in mind. However, this thesis is now undergoing some re-evaluation, given that overall recovery prospects are being pushed towards the latter half of 2009 or early-2010.

The current financial market fallout adds further uncertainty to their growth picture, with roughly 50% of market cap already shaved off for the BPO companies since the fallout -- relative to its 52-week high, Cognizant Tech (

...

The current global economic and market downturn has taken its toll on the IT Services group as a whole. The Business Process Outsourcing (BPO) companies were all under significant pressure even before the economic malaise, with a slowdown in its growth trajectory.In other words, the BPO companies were all trading with an early 2009 growth/recovery story in mind. However, this thesis is now undergoing some re-evaluation, given that overall recovery prospects are being pushed towards the latter half of 2009 or early-2010.The current financial market fallout adds further uncertainty to their growth picture, with roughly 50% of market cap already shaved off for the BPO companies since the fallout -- relative to its 52-week high, Cognizant Tech (CTSH, Hold) is down approx. 38%, Infosys (INFY, Hold) down 41.1% and Wipro (WIT, Hold) is down 38.8%.There's no mistaking that the global ...