Satyam Infoway, India's largest Internet Service Provider, is among the ten top technology companies world-wide recommended for investment by the prestigious American business magazine, Fortune. Satyam's rich media content and large Internet subscriber base could position it as the AOL-Time Warner of India, the magazine says.

In fiscal 1999-2000, Fortune says the company posted a loss of US $ 8 million, on a revenue of roughly US $ 15 million. Quoting analysts of Salmon Smith Securities, the magazine said Satyam's revenues would grow to US $ 54 million this fiscal and its losses will widen to US $ 12.9 million.
But the company should turn the corner in 2001 when Salmon expects Satyam to post first net profit of US $ 6.3 million and net profits to quadruple the following year. Until those profits roll in, Satyam should remain financially stable. With US $ 220 million in cash from two well in time NASDAQ stock offerings earlier this year, Satyam looks to remain standing while other Indian dotcom companies may topple, it says.
Others in the group include five Eurpoean companies - Alcatel (French), Nokia (Finnish), St Micro Electronics (Swiss), Philips (Dutch) and Kudelski (Swiss). The group also includes two Chinese, one Japanese and one Singaporean companies. Fortune says if there is one theme that unifies Asia's diverse technology spectrum, which ranges from one-man software startups in India to huge semi-conductor factories in South Korea, it is that NASDAQ's recent troubles have spread to the region and creamed stock prices. Bureau Report