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Goldman Sachs recently initiated coverage on all four Indian IT firms listed in the United States. 

Infosys Technologies (Nasdaq: INFY) - ‘Neutral’
Wipro (NYSE: WIT) - ‘Neutral’
Satyam (NYSE: SAY) - ‘Buy’
Patni Computer Systems (NYSE: PTI) - ‘Sell’

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S&P upgraded Patni (NYSE: PTI) to a ‘Hold’ from ‘Sell’ after it released its Q2 earnings today. S&P analyst Dylan Cathers, “We are raising our 2006 earnings per ADS estimate by 12 cents to 98 cents, and our 12-month target price by $6 to $17″.
Finally some signs of life for Patni Computer Systems.
Life Insurance […]

MoneyControl: Technical Analyst, Vijay Bhambwani is of the view that one should exit Patni Computer Systems (NYSE: PTI) once it breaches Rs. 300 on the downside. He says on the upside, Rs. 360 is stiff resistance. Vijay is bullish on Infosys, Satyam and TCS.
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IndiaTimes: Due to a tax review which would entail additional tax liabilities of $23 million to $33 million, Patni computer (Nyse: PTI) will restate its result for 2003 and 2004
The company will make provision for additional tax and other related liabilities in its unaudited financial statement for the quarter ended June 30, 2006. […]

PressRelease: Patni computer (Nyse: PTI) also seems to be using the acquisition route to grow. This time its acquired ZAiQ Technolgies, a design and verification company, in Woburn, Mass. With this acquisition, Patni�s product engineering service becomes stronger by addition of ASIC design, verification and validation expertise.
Patni is already in […]

Press Release: Patni Computer Systems, Ltd., a global IT services provider, announced today that it has formed a strategic alliance with Clear Technology, Inc., a leading global software solutions company serving the insurance, financial services and healthcare industries. Under the terms of the agreement, Patni will provide worldwide process consulting and system integration services […]