The main trigger in this company was the prospect of delisting but that came to a naught when the promoters, computer giant, Oracle Global stated that that they will pare their stake to comply with the minimum public shareholding requirements of the Listing Agreement of 75%. They will be reducing their shareholding in the company by 5.3%. Promoters currently hold 80.27%. Post this, naturally the stock fell, and the numbers for Q4 and FY13 also did not help.

For Q4FY13, the company posted a 2% (YoY) rise in operating income at Rs.739 crore but a major spike up in its operating costs, led by employee costs, which is 50% of the revenue earned muted the margins. Also yoY, there was a base effect at play as in Q4FY12, the company had reported an exceptional income of Rs.311 crore which spruced up its net profit. There was no such exceptional income in FY13 and this the net profit for the quarter was down 47% at Rs. 266 crore. Sequentially, it was up over 4%. For FY13, consolidated revenue rose 10% at Rs.3474 crore and net profit came in at Rs.1075 crore, up 18%. Its reserves as at 31^st March 2013 stood at Rs.7364 crore and more importantly, it is a totally debt free company. It is good that such good quality MNC stocks prefer to stay listed on the Indian bourses; maybe the traders would have made a quick buck in the short term but in the long term, such good quality companies are required to give depth to the markets.