Technology Sector

Mouse maker Logitech hit by economic downturn

Mouse maker Logitech hit by economic downturnGeneva - Logitech announced Thursday losses in its fourth quarter results and said sales stood at 408 million dollars, down 32 percent from the same period last year.

The Swiss company, the largest maker of computer mice in the world, posted an operating loss of 43 million dollars for the quarter, compared to an operating profit of 66 million dollars for the last months of the previous fiscal year.

Buy Moser Baer, Target Rs 78: Nirmal Bang

Buy Moser Baer, Target Rs 78: Nirmal BangNirmal Bang Research is bullish on Moser Baer (India) Limited and maintained ‘Buy’ rating on the stock to achieve a target between Rs 69-78 within 1-5 days.

Traders can buy the stock on dips with a stop loss of Rs 58.

Shares of the company, on Wednesday (April 22), closed at Rs 62.90 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 201.30 and a low of Rs 41.10 on BSE.

According to Nirmal Bang report, the structure looks very positive, so buy the stock and hold, if it maintains above Rs 67, a big move is expected.

HCL Technologies posts disappointing results; Q3 Net profit down by 42%

HCL TechnologiesHCL Technologies, a leading offshore IT & software development company, on Wednesday reported a 42 per cent decline in its net profit at Rs 152.57 crore for the third quarter ended March 31, 2009

The firm had posted a net profit of Rs 263.08 crore in the same quarter last fiscal.

In addition, the total income of the company also fell to Rs 1,048.90 crore in the quarter under review, against Rs 1,275.58 crore in the same quarter previous fiscal.

For the nine-month ended March 31, the company has posted a net profit of Rs 804.37 crore from Rs 794.19 crore in the same period a year ago, up 1.28 per cent.

MindTree inks strategic alliance with Skytap Inc.

MindTree inks strategic alliance with Skytap Inc.MindTree Limited, a Rs 800-crore software and R&D services company, has entered into a global strategic alliance with Skytap Inc, a leading provider of cloud-based virtual lab solutions.

According to company officials, the partnership enables MindTree's customers to scale test labs on-demand through Skytap's virtual lab solution, resulting in reduced IT costs, accelerated lab provisioning, and effective collaboration among global teams.

Skytap provides testing teams with a complete virtual lab solution over the Web.

OnMobile Global signs deal with Vodafone Group

OnMobile Global signs deal with Vodafone GroupOnMobile Global Ltd and Vodafone Group have entered into an agreement to deploy OnMobile's Ringback Tones, Voice Portal and Speech-enabled Value Added Services to the Vodafone Group emerging markets operating companies.

The agreement enables Vodafone operators and Partner Networks across the world to rapidly deploy OnMobile's products which have achieved remarkable success for Vodafone in the fast growing Indian VAS market

Satyam gets nod from NYSE Euronext to delist its American depositary shares

Satyam gets nod from NYSE Euronext to delist its American depositary sharesHyderabad-based Satyam Computer Services Ltd. notified on Tuesday that it has got regulatory approval from NYSE Euronext, to delist its American depositary shares, effective May 20.

NYSE Euronext is a Euro-American corporation that operates multi-securities exchanges.

The latest development comes after Venturbay Consultants Private Ltd, a subsidiary controlled by Tech Mahindra last week emerged as the highest bidder to acquire a majority stake in the troubled software company.

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