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India Equity Research Reports, IPO and Stock News
India Equity Research Reports, IPO and Stock News
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Atos Origin (ATOS.PA, Neutral, covered by SK Prasad, Borra)
1) Difficult for Indian companies to acquire in Europe – Business model for Indian
companies is to have cost advantages in India. If they go for acquisitions in Europe,
restructuring costs are much higher (more than even US) which doesn't make the
acquisition viable from the cost point of view.
2) Offshore receptiveness still not good – Europe is a heterogeneous geography and
the receptiveness to offshoring is still not as good as US. Hiring in EU is a challenge
with language barriers in some countries.
3) Plans to cross the 11,000 mark in India – Company is targeting to cross headcount of
11,000 people in India in 18 months. They are looking for 70% offshoring in the
application management and infra management of the global portfolio.
4) No cuts in discretionary spends – Company is not seeing any significant cuts in the
discretionary spending as the budgeting process for the next year has not started yet.
for details of remaining company see link
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