Tuesday's Asia ADR Recap: Solar Surge
05/13/08 - 05:50 PM EDT
Stockpickr Staff
Indian information technology leader Satyam Computer (SAY Quote - Cramer on SAY - Stock Picks) announced it has inked a partnership with aftermarket service and support technology company Enigma to improve service in the aviation, automotive and heavy equipment industries.
Satyam Computer also announced it has developed a new solution that will reduce plant shutdown time for process manufacturing companies which normally take annual or semi-annual plant maintenance shutdown. The company said the solution is based on the Theory of Constraints (TOC), developed by Israeli physicist Eliyahu Goldratt. Shares of Satyam closed down 1% at $26.12. Global 360, a leading provider of business process management (BPM) and optimization solutions, announced it has formed a strategic partnership with Patni Computer (PTI Quote - Cramer on PTI - Stock Picks), an Indian information technology service provider. The partnership will allow Patni to offer a customizable solution framework for the development of insurance business applications with Global 360's BPM suite. Shares of Patni fell 1.4% to $12.71. Leading the decliners list among Indian ADRs Tuesday were WNS (WNS Quote - Cramer on WNS - Stock Picks), which fell 4.5% to $17.85; Mahanagar Telephone Nigam (MTE Quote - Cramer on MTE - Stock Picks), which dropped 2.8% to $4.85; and Sify Technologies (SIFY Quote - Cramer on SIFY - Stock Picks), which lost 1.4% to $4.86. Be sure to check out the Far East Portfolio at Stockpickr.com every night to find out which stocks in India and China are making big moves and announcing major news.
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