Infosys

Infosys has raised 2009 guidance a couple of days ago, on strong domestic demand and from European counterparts (last awarded contract from Reiffeisen Bank), despite a stronger rupee. Some of the business previously contracted to Satyam might very well shift to Infosis, that is now expected to pay a whopping 3% dividend on current prices for 2009.Strong cash generation brings to total absence of debt. The stock is now trading at slightly above ten times prospective earnings.

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