Nortel files for bankruptcy- One mroe shock

Nortel Networks is North America’s biggest maker of telephone equipment.

The company said operations are expected to continue without interruption and added that it has sufficient cash on hand to fund ongoing operations.

Nortel is one of the larger clients for most Indian IT companies. Indian companies that would be impacted are Sasken, Infosys and Wipro.

So friends what to say now ??? It further increased difficulties of Indian IT cos.