Software firm MindTree Ltd expects improvement in its operating margin for the financial year 2009 and revised its earnings guidance forecasts. The company said, "Members of the investor community have drawn attention to this. We have taken a fresh look at our EBITDA guidance and updated our estimates."

Educomp Solutions has approached the Economic Offences Wing of Delhi Police and the Cyber Cell to apprise them about malicious rumors by some elements to hamper its stock value.

The Managing Director and CEO of Educomp Solutions, Shantanu Prakash has expressed concerns over the conspiracy to malign the image of Indian corporate sector in general and the company in particular. It should be recalled that several news came out from different sources revealing that the accounts of company have been fudged.

While software segment is facing the heat of global slowdown, Polaris Software Lab Limited performed well for the third quarter of current financial year. The company provides application development solutions to banking, finance and insurance sector.

The company posted 94 per cent increase in net profit despite low demand in IT segment and tight liquidity conditions. The board of company has decided to pass 30 per cent dividend to shareholders.

Country's third largest software exporter, Wipro has announced its results for third the quarter. The company posted net profit of Rs 10.04 billion for Q3 ended December 31,
08. the company posted net profit of Rs 8.54 billion for the same period last year.

Its total income stands at Rs 67.73 billion as compared to Rs 54.33 billion a year ago. The company posted 26 per cent increase in its operating profit.

On Monday, IBM, the world's largest technology services company, and German software company SAP AG announced that they are thinking to launch their first jointly developed software product in March.

SAP said, "The software -- called Alloy -- combines IBM Lotus Notes software with SAP Business Suite and will be sold by both companies."

An announcement regarding the deployment of the Warrior Satellite Monitoring and Surveillance System for the Indian region was today made by Pacific Telecom Conference -- Antenna Technology Communications Inc., a provider of commercial satellite communications systems at the Pacific Telecom Conference in Hawaii.