Technology Sector

HCL Infosystems’ Q4 Net Zooms 21%, Declares Dividend

HCL Infosystems
New Delhi: HCL Infosystems has declared results for fourth quarter that ended on June 30, 2007. It recorded about 13 per cent increase in consolidated net profit for the year ended June 2007, which stood at Rs 315.95 crore.

The company has also announced that it has pocketed Rs 500-crore deal from Bharat Sanchar Nigam Ltd. HCL’s consolidated gross sales in the same period was also up at Rs 11,855.43 crore as against Rs 11,454.97 crore in the corresponding period of the last year.

TCS Grooming Science Graduates Into Software Masters

Tata Consultancy ServicesTata Consultancy Services will appoint 2,000 science grads, generally from Tier III cities and rustic regions, and turn them into software masters in the existing fiscal.

Mr S. Ramadorai, CEO and Managing Director, TCS said these candidates will be dealt as TCS employees from the first day, but will get 30 per cent lesser pay as compared to the engineering graduates.

Stock Markets Down by 428 Points - Wipro, TCS and Suzlon Energy among top losers

The Stock markets have slipped deeper into the red (Down by 428 Points) on account of selling pressure seen in all major index stocks. IT and Banking Stocks were among the worst hit. IT stocks are seen under pressure as the Dollar price has again come down compared to Indian Currency. All the key BSE indices are in red and the trading volumes are lower compared to market average.

At 14.15 hrs IST, the Sensex is down 428.02 points and has broken the 14000 level. Nifty is down 129.5 points or 3.13% at 4080.60.

The Market Stats

781 shares are in the Green.
2172 shares are in the Red.
53 shares are unchanged.

BSE Midcap was down by 1.6% while BSE Smallcap was down 2.1%.

Goldstone Technologies Signs Pact With Echelon Studios

Goldstone TechnologiesGoldstone Technologies has signed up a contract with US-based Echelon Studios.

Echelon Studios will provide the company with about 3,500 video titles that consist of movies, cartoons and sitcoms.

The recent deal will aid Goldstone to improve its video library content for its video-on-demand subscribers.

Patni Computer Systems among Top Gainers in Stock Markets

Patni Computer Systems
At 11:40 am, Patni Computer Systems is quoting at Rs 392.25, and up Rs 28.30, or 7.78%. It has reached an intraday high of Rs 403.90 and low of Rs 379. The company has shown good performance in the past. The guidance for the next quarters is also good.

Tata Consultancy Services may get $ 1.5 bn contract from UK based Insurance Provider

Tata Consultancy ServicesAt 10:32 am, Tata Consultancy Services is quoting at Rs 1,078.20, and up Rs 22.10, or 2.09%. The Stock reached an
intraday high of Rs 1,097.85 and an intraday low of Rs 1,072.

The reports from reliable sources suggest that the company may have a new contract worth USD 1.5 bn from Prudential Insurance of UK.

The stock is dealing with volumes of 27,780 shares. On Friday, the share closed down at Rs 1,056.10, 2.91% or Rs 31.70.

Reshuffle At Satyam Computers Top Level

Satyam Computer ServicesHyderabad: Satyam Computer Services annunciated that four of their senior administrators have accepted different leadership responsibilities in strategic fields of the organization.

S V Krishnan would look after Human Resources whereas Pavan kumar turned Chief Technology Officer. Hari T (former HF head) would head Worldwide Marketing and Communuications whilst Vijay Prasad as Chief Information Officer and Head of Soft Infra group.

Sify Combined its Consumer Businesses

Chennai: Sify LimitedSify Limited has incorporated its portal, i-Way cyber café chain and Sify broadband to home services into one sole business entity.

HCL Yearly Net At Rs 1,102 Cr, Declares Dividend

Chennai: HCL TechnologiesFor the year ended June 30, 2007, HCL Technologies ha posted a net profit of Rs. 1,101.82 crore as against Rs. 638.38 crore in the corresponding period in the previous year. The recent results showed an increase of 72.6 per cent in the company’s earnings.

The company’s total income was higher by 35.03 per cent at Rs. 4,208.04 crore against Rs. 3,116.26 crore.

While declaring the results, Vineet Nayar, President, HCL Technologies, said, “The past year has been spectacular for us and in the four consecutive quarters, we have grown sequentially over 9 per cent.”

Omnitech Infosolutions To List On August 14

Omnitech InfoSolutions Limited Stock ChartBSE has declared that from Tuesday, August 14, 2007; the equity shares of Omnitech InfoSolutions Limited (Scrip Code: 532882) are scheduled and accepted for transaction on the stock exchange in the list of ‘B1’ Securities Group.

The company’s equity shares (Symbol: OMNITECH) shall be listed and allowed to dealings on the NSE w.e.f. August 14, 2007.

IT Stocks Makes Recovery as Rupee is looking Weak

In the afternoon trades, the BSE IT index gained 24 points to 4,758.66 owing to the decrease in the rupee values as against the dollar.

In order to tame the rupee, the government had constricted foreign-borrowing rules on 7 August 2007. Now, external commercial borrowings (ECBs) over $20 million have been permissible only for foreign currency expenditure for allowable end-uses and are required to be parked abroad.

Lanco Infratech among Top Gainers on back of Solid Results

In afternoon trading,Lanco Infratech Lanco Infratech climbed up 4.6% to Rs 284.10, broadening its fresh rally triggered by strong Q1 figures. The quarterly results were announced on 26 July 2007.

About 28.99 lakh shares were traded in the scrip, and the daily average volume of the stock in the last one quarter stood at 5.84 lakh shares. During the day, the stock touched its all-time high of Rs 294.70 and a low of Rs 274. It has had its 52-week low of Rs 137 on 5 April 2007.

Wipro Acquires US Outsourcer Infocrossing For USD 600 Mn

Wipro TechnologiesWipro Technologies signed up a definitive agreement to takeover the Nasdaq-listed Infocrossing Inc in an all-cash transaction for $600 million (around Rs 2,430 crore).

The Nasdaq-listed company, Infocrossing is a US-based source of IT infrastructure management, venture applications and business process outsourcing services. For 12-month ended March 2007, Infocrossing posted earnings of $232.4 million with a net income of $9.3 million and $22.3 million cash on balance sheet.

Oracle To Build R&D System For Innovation

OracleNew Delhi: Enterprise software company Oracle said it will make a research and development (R&D) system for its 19 centers across Asia Pacific and Japan to manufacture, check and showcase technological innovations.

The novel single system will connect 19 development and solution centres that include six Oracle Asia R&D Centres (OARDC) in India, Japan, Korea, Singapore and two in China in addition to 13 solution centres in the Asia-Pacific region.

Amazon 2Q Profit More Than Triples, Stock Jumps 12%

Seattle: Inc.’s recorded three-fold increase in its profit for the second quarter ended June 30, 2007.

The company stated that its income boosted on the back of healthy sales of books, music and electronics internationally. The company’s stock surged 12.5 percent in after-hours trading.

The web retailer’s earnings for the three months mounted to $78 million, or 19 cents a share, as compared to $22 million, or 5 cents a share in the same period last year.

The quarterly results exceeded Wall Street’s outlooks. Analysts estimate a profit of 16 cents per share.

Satyam Officer Kidnapped In Hyderabad

Satyam ComputersHyderabad: The General Manager of Satyam Computer Services Satya Vedula was kidnapped from Secunderabad, the twin city of Hyderabad.

Mr. Vedula was abducted when he had gone to drop his son to school in Bhopalpuram area. His wife filed a complaint with the police when he didn’t come back to his home.

No more information is available with the Hyderabad police on his situation or who is after his kidnapping plan. No one is reported to have witnessed his abducting.

TCS Q1 Income Up, Declares Dividend

Tata Consultancy Services LtdTata Consultancy Services Ltd (TCS) has annunciated the following audited outcomes for the quarter ended June 30, 2007. The consolidated results are as follows:

Infosys Q1 Profit Surges 34.5%, Beats Forecast

Infosys Technologies BangaloreBangalore: Today, Infosys Technologies has declared the results for its first quarter ended March 31, 2007.

For the first quarter ended June 30, the IT major posted a 34.5 per cent growth in consolidated net profit that stood at Rs 1,079 crore.

The net profit of Rs 1,079 crore comprises a reversal of tax provisions totaling to Rs 51 crore. Earnings per share (EPS) augmented to Rs 18.89 from Rs 14.36 for the same quarter in the preceding year, a year-on-year growth of 31.5 per cent.

Technology Stocks Turn Hard Prior To Infy Results

Infosys TechnologiesMumbai: Tech stocks became more potent earlier than Infosys results on Wednesday. Fresh buying was seen in Infosys, Satyam, Wipro and Tata Consultancy and this is expected to carry on for a moment.

In early trading, Infosys was up 1.30 per cent to Rs 1,997.79, Satyam benefited 1.25 per cent to Rs 494 and TCS was up 0.80 per cent to Rs 1,168.15 on the NSE.

Sony Drops PSP Prices

Sony Computer Sony Computer EntertainmentEntertainment America (SCEA) has marked the recent second anniversary of PSP by airing PSP hardware price cut. The PSP Core Pack will now be available in North America for $169.99 ($30 short of the previous price).

SCEA’s also broadcasted, the availability of Daxter and Syphon Filter: Dark Mirror at $19.99, as new additions to the "Greatest Hits" program. These new additions will enable PSP users to build up their software library with two popular titles at great value.

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