The stocks have been witnessing a rise between 5-25 per cent on expectations of better performance following the emergence of India as a major outsourcing hub, analysts said. The main reason for the rise in the share prices is that the ITES business such as transaction processing, call centre and other back office processing services is set to take off in a big way with India emerging as a major outsourcing hub.
Hinduja TMT has seen a rise of Rs 46.50 to close at Rs 329.15 on April 11 from Rs 282.65 on March 10, up by 16.45 per cent. eServe International, formerly known as Citicorp Securities and Investments Ltd and the erstwhile financial services arm of the CitiBank group, has seen a rise of 21.6 per cent to Rs 621.90 as on April 11 from Rs 511.25 as on March 10, up by Rs 110.65.
MphasiS BFL, a wholly owned subsidiary of MsourcE which operates in the ITES sector, has projected a 200 per cent consolidated growth in the current year and is expecting that this growth will be largely driven by MsourcE.
The stock price of the company has risen by 28.62 per cent from Rs 521.90 as onf March 2002 to Rs 671.30 as onf April 11, 2002, up by Rs 149.40.
Two other stocks which have been ideally categorised within the telecom category but are largely into the business of ITES and ITES- related business are Tata Telecom and GTS.
Tata Telecom provides software integrated solutions to call centres. Although this is just one of their areas of business, the rise in the company
