October saw a new leader on the Cirrus Image Index. According to Cirrus, a service from agencyfaqs! which monitors the media perception of over 1,100 companies, Infosys became the number one company in October in terms of image (positive coverage minus negative coverage) relegating Maruti to the second position. The automotive giant had had a clear run at the top of the index since June of this year.
The Infosys image had taken a battering in recent months, with a lawsuit involving one of its top employees. The IT major regained lost ground in October with better than expected second quarter results. A strategic tie up with Bank of America and Narayan Murthy receiving the Ernst and Young Entrepreneur of the Year award, were other events that helped the company image.
October was an overall favourable month for IT companies on Cirrus 100. From Satyam Infoways and HCL Technologies which rose eight ranks and 4 ranks respectively, to Microsoft which managed a more modest gain and jumped one spot to reach number 11.
An exception was Sun Microsystems, which fell twelve ranks on the index. Disappointing quarterly results and a legal dispute were the contributing factors for the heavy loss of image points. In contrast Wipro and Intel had smaller losses, falling one rank respectively.
Though marketing and financial stories made maximum headlines for the IT sector, personalities associated with this sector also received a fair share of the limelight this month. From Ramadorai of TCS winning the Asia Business Leader Award, to Bill Gates impending visit to India, personalities generated tremendous coverage for their companies.
Notable upsets during October on Cirrus 100 include Turner International India, BSES, IBP and Sahara India Media, all of which lost heavily on image points.
Gainers on Cirrus 100 during this period include ESPN-STAR, Toyota Kirloskar, Citibank, Sail and Nalco among others. Four new entrants were seen on Cirrus 100 in October viz. Balaji Telefilms, ABN Amro, BPL Mobile and Shipping Corp Of India.
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