The government, after ordering probe into IPOs of all listed companies, has ordered to scrutinize accounts of the education software and services firm, Educomp Solutions and Six public sector companies.

The move is aimed to check financial irregularities of accounts of these firms after the disclosure of largest ever corporate fraud committed by disgraced Satyam's Chief B Ramalinga Raju and other top executives of beleaguered software company.

India is all set to launch an ultra cheap laptop, developed as part of a broader national plan to attract Indian colleges and schools toward emerging trends in information technology. The laptop, known as Sakshat, is aimed to bridge gap between rich and poor by linking 18,000 colleges and 400 universities across the country.

The laptop will have 2GB inbuilt memory and user friendly applications. It would be available for just Rs 600, giving stiff competition to rival PC manufactures like the One Laptop per Child's XO machine and the Intel Classmate.

IT major Mastek Ltd has been forced to reduce its staff strength and employ other cost cutting measure to mitigate the impact of global slowdown. About 425 staff members of company, out of 4,243 employees, mostly trainees or junior employees, have been put on 'virtual bench' for the next 12 months, in a bid to control the worsening situation aroused due to low demand and recession all around the world.

 Rate follows GBP lower, cross-spreaders likely pressure as crosses are unwound during the day. One-way action overnight in light volume as stops get triggered under 1.2750 area and below but sellers run out on support at the 1.2700 handle.

Major resistance is now back at 1.3030 area and a close back above there argues for another test of the 1.3300 area weekly highs. Downside bias may be running out as rate is now on solid support numbers around the 1.2700/20 area. Pullback argues the squeeze is over.

Rate drops back after an up week last week; likely a correction and a buying opportunity as the 23 year lows are very likely to hold. Last week's Blanchflower comments help underscore the rate on dips but that support didn't show this morning.