Markets in 2008 & The Year Ahead !
“The year 2008 was terrifically challenging for our markets, and events dampened investor confidence when portfolio values diminished with the capitulation of prices. Therefore, we will greet 2009 with considerable scepticism. However, this is not the only time that intrinsic value, which emerged after the market carnage, has been tested. Clearly, this value will impede any further declines due to slow growth in corporate earnings. A review of the 2001 era as well as other global recessionary phases confirms that bottoms were considered when “gloom and doom” ran rampant, but these phases were succeeded by bull runs. The current sentiments and valuations are similar to those from 2001 yet that year was followed by the largest bull market, which produced a sevenfold increase in the Sensex. History demonstrates that recessions ultimately yield to resurgence, but this reality is always doubted in troubled times. For growing economies—particularly India’s—the writing is on the wall: growth will return. By lowering the interest rates and providing fiscal stimulus, the RBI and the government have set the wheels in motion, which should revive demand and consumer spending in our under-penetrated markets. Soon, corporations will regain their velocity as profitability returns. They will resume investing and generating new employment, thus creating demand for their products. The coming year will allow us to re-live our experiences in wealth creation and multiply our returns on the bourses; it represents an opportunity waiting to be seized. Hence, rejoice; happy days are around the corner.“

Hyderabad, India, December 28, 2008: Country’s fourth largest software exporter Satyam Computer Services Ltd. (NYSE:SAY) announced that the next meeting of its Board of Directors has been rescheduled to January 10, 2009 in order to allow the board to consider additional options.

“Satyam’s Board of Directors recognizes the serious nature of certain questions raised by the events of the last two weeks,” said B. Ramalinga Raju, Chairman and Founder of Satyam.  “In order to ensure that these questions are properly addressed, and that the interests of stakeholders are fully and carefully considered, Satyam has decided to broaden the scope of its deliberations beyond a possible buy-back of its stock.”

As per the Satyam’s official statement, additional possible actions includes:  

Measures to strengthen Satyam’s governance structure, including increasing the size and altering the composition of the board.

Conducting a review of the company’s strategic options to enhance shareholder value.  The company has engaged DSP Merrill Lynch to assist in this review.

Addressing issues arising from a possible dilution of the promoter’s stake in the company.

The board is expected to make recommendations on these matters at the January 10th meeting.

“Satyam takes the interests of its stakeholders very seriously, and we will take whatever steps are necessary to reinforce their trust and confidence in the company,” Mr. Raju added.

Hyderabad, December 27: In a dramatic development, Satyam Computer Services Ltd’s board meeting has been postponed. The company even though not notified officially to stock exchanges, the news was spread across the media on Saturday evening.

    Company sources indicated that independent director preferred to attend meeting personally, which led to the postponement.

     Satyam’s board is scheduled meet on Monday to seek approval for a buyback of its shares. The buyback proposal came after the company has aborted its plans to acquire Maytas Infra and Maytas properties, which are belongs Satyam’s Chairman Raju’s two sons.

     The fresh date was not yet announced, but the sources close to the developments indicated that it would be around January second week.

Hyderabad: Directors Board of India’s fourth largest software exporter Satyam Computer Services Ltd  is scheduled to meet on Monday, December 29, 2008, to discuss proposed shares buyback issue.

Apart from buyback, many issues like corporate governance, world bank statement banning Satyam for 8 years and independent directors role also likely to come in to the boards discussion.

Meanwhile, a group of investor are reportedly not happy with the buy back offer, which may give scope to go for merely 10% share buyback. They are looking for special dividend.

On last Monday, nearly 25 high profile investors in Satyam are reportedly met in Mumbai to form a body, in order to make a formal representation to the company’s management on recent happenings.

   Prominent fund houses such as Reliance Mutual Fund, Templeton Mutual Fund, SBI Mutual Fund and Birla Aberdeen are some of them.

Institutional investors are concerned over the cash reserves of Satyam, which are nearly 6000 crore rupees.

Monday board meeting give some answers to all the questions raised by the investors after the Satyam-Maytas deal.

Hyderabad, India, December 25, 2008: After facing brick bats for 10 days, Satyam Computer Services Ltd finally came out with its own defense. On Thursday, the company has vigorously objected the statements made by World Bank representatives reported recently in the press.  Satyam formally requested today that the World Bank immediately withdraw those statements, that it issue a new statement apologizing to Satyam for the harm done to the company due to the Bank’s actions, and that it provide Satyam with a full explanation of the circumstances related to the Bank’s inappropriate statements. 

The statement further said, Satyam has further advised the Bank that Satyam would evaluate all possible options in view of both the Bank’s inappropriate public statements and its response to Satyam’s requests.

“Satyam usually does not comment publicly on matters involving our customer relationships. However, the inaccuracy and inappropriateness of the World Bank’s public statements regarding Satyam has forced us to issue this brief statement in order to set the record straight.” the company said.

 announces settlement of Clarinex® (Desloratadine) ANDA patent litigation with Schering Corporation and Sepracor Inc.

Hyderabad, India, December 23, 2008 – Dr. Reddy’s Laboratories today announced that it has entered into  agreements with Schering and Sepracor which will allow Dr. Reddy’s to manufacture and market  generic versions of the CLARINEX-D®-12 Hour and CLARINEX-D®  -24 Hour products, with six months marketing exclusivity, and the CLARINEX® REDITABS® product, with six months marketing co-exclusivity, starting in 2012.  Dr.  Reddy’s will also market a generic version of the CLARINEX® 5 milligram tablet six months after the launch of the first generic version of that product.

The agreements resolve all pending patent infringement actions filed by Schering and Sepracor against Dr. Reddy’s in the U.S. District Court for the District of New Jersey.

The agreements provide for potential modification of select terms based on certain events and developments.  The specific financial terms and conditions of the agreements have not been disclosed.  The agreements are subject to review by the United States Federal Trade Commission and Department of Justice.

CLARINEX®, a nonsedating antihistamine, offers relief from seasonal allergic rhinitis and perennial allergic rhinitis, as well as chronic idiopathic urticaria, or hives of unknown cause. CLARINEX-D® 24 Hour Extended Release Tablets is the only once-daily prescription antihistamine and decongestant combination treatment on the market to provide 24-hour relief of nasal and non-nasal allergy symptoms.  Total U.S. sales for all formulations of CLARINEX® products were $362 million in 2007.

Hyderabad, December 22nd , 2008 : Oridian, the leading brand of the Hyderabad-based Ybrant Digital Limited, the top-notch global ad network operating in the United States, the United Kingdom, Australia and 40 other countries, announced that India-based Integrid Media, an organization serving as a one-stop shop for integrated media solutions, will be its exclusive seller of web advertising properties for that country. Ybrant’s other brands include AdDynamix, MediosOne, VoloMP, AMS and WordCents.

In March 2007, Ybrant’s MediosOne, the global search-based internet advertising network provider entered a joint venture with Integrid, to develop into the Indian market. The partnership has been very successful and has evolved to be one of the key networks in the market.

Oridian Online Media Solutions is a leading international advertising network with local sales houses and site-specific representation. The company enables premium websites to monetize their international traffic in more than 40 countries while offering advertisers and agencies dedicated and optimized campaign management. Oridian earned IASH accreditation after passing their first audit in July this year, and is a full member of the Internet Advertising Sales Houses (IASH); while Integrid Media is comprised of veteran media professionals with extensive experience and a broad network of contacts within agencies and clients. This experience in media placement, as well as Integrid’s strong influence within the Indian market, makes this cooperation an ideal match for both parties.

“With most of the online advertisers on the MediosOne network, our earlier partnership with Integrid has been truly fruitful. I am sure Oridian joining hands with Integrid will further strengthen the relationship and take it to the next level. We are excited to be cementing our relationship with this company of great caliber,” said Gal Ekstein, General Manager of Oridian Global. “We have been working as a team with Integrid Media for a year now, and this exclusive agreement will go far in strengthening our presence in India.”

“We are continually looking for ways to not only up our service, but also the product itself,” said Anil Mishra, CEO of Integrid Media. “By partnering with Oridian, we offer publishers quality content ads, while at the same time ensuring advertisers the prime promotional space on leading web properties. This in turn, will enable us to offer more effective campaigns to our clients.”