Technology Sector

TCS net profit increases 4.6% in FY 2009; Board recommends 1:1 bonus share issue

Tata Consultancy ServicesThe quarterly profit of the autos, commodities and services businesses-inclusive Tata Group firm, TCS - Tata Consultancy Services - has increased by 4.6 percent. Compared to the Rs 4,508.76 crore after-tax net profit reported during earlier fiscal, the figures for the year ending March 31, 2009 stood at Rs 4,696.21 crore.

The year-on-year total income increased from Rs 18,979.67 crore in the last fiscal year, to Rs 21,947.76 crore this fiscal.

Smartdata enterprises, the offshore software outsourcing company

Smartdata enterprises, the offshore software outsourcing companyMohali, April 20: Smartdata enterprises, an offshore software outsourcing company, has expertise in web and software applications development in the ever-growing software development offshore outsourcing global market.

In 1996, SmartData Enterprises Incorporation, a consulting company was formed in Silicon Valley, California.

It was three years later in 1999, the company saw the vast potential in the IT sector in India and set up SmartData Enterprises (India) Ltd, a database company with four members.

Google Chrome enables users “to remove thumbnails from the New Tab Page”

Google ChromeAccording to the Google Chrome Program Manager, Anthony Laforge, in the Thursday-released Chrome 2.0.174.0 update, the open source browser now includes a new feature that enables the users the "ability to remove thumbnails from the New Tab Page." Earlier, the option was accessible in default mode.

CA Inc. to hire 1000 professional for its Hyderabad R&D Centre

CA Inc. to hire 1000 professional for its Hyderabad R&D CentreUS-based CA Inc, the IT management software company, has decided to hire 1,000 professionals in India over the next 3-5 years.

According to reports, the company will employ an additional 1,000 people for its Hyderabad R&D centre, taking the total strength to 2,600 over the next 3-5 years.

The Hyderabad facility currently houses about 30 per cent of the company's global R&D headcount.

Lanco Infratech sketches investment plan worth Rs 15000 crore

Lanco Infratech sketches investment plan worth Rs 15000 croreLanco Infratech, the flagship of Hyderabad-based Lanco Group, has decided to invest Rs 15,000 crore in the power sector during 2009-10.

Sources reported that it would be an 80:20 debt-equity structure and lead to financial closure of 2,640 MW installed power capacity. The projects are located in Orissa, Chhattisgarh and Maharashtra.

Tech Mahindra successfully raises Rs 600 crore

Tech Mahindra successfully raises Rs 600 croreTech Mahindra, an M&M-promoted company, has notified that it has successfully raised Rs 600 crore of debt through issuance of bonds.

The company said that it has allotted 6,000 non-convertible debentures (NCDs) of face value of Rs 10 lakh each, aggregating to Rs 600 crore on April 17.

Recently, Tech Mahindra through its arm Venturbay Consultants, won the race to acquire controlling stake in scam-hit Satyam Computer. The company has to pay Rs 1,756 crore by April 21, for acquisition of a 31 per cent stake in the company.

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