Technology Sector

Google’s way being looked at in Texas

Posted on September 04th, 2010 in Google, India Shares, Internet, Technology Sector

Google's way being looked at in Texas

The website recommendation done by Google Inc is being reviewed by the Texas legislature saying that the search engine major has being abusing its power.

The review is being done by the Texas’ attorney general and an inquiry has already been set up. The antitrust inquiry is being looked as the first signs of troubled times for Google, the current worth of which is $30 billion.

There are also rumors that the inquiry has been set up by the competitors of Google, but there is no evidence of the same.

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IT Firms Say Imposing 20% MAT, Not a Good Idea

Posted on September 01st, 2010 in India, India Shares, Tax, Technology Sector

IT Firms Say Imposing 20% MAT, Not a Good Idea

According to the IT firms, Direct Taxes Code (DTC) bill’s proposal, which says that 20% Minimum Alternate Tax (MAT) should be imposed, might prove not so good for the industry and especially if it would be expanded to special economic zones.

The profit making Companies have to pay MAT and because of various exemptions, these profit making organizations do not fall under the tax net, however most of the IT Companies come under this category.

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Court Shows its Leniency Towards Fraudsters?

Posted on August 29th, 2010 in India News, India Shares, Technology Sector

Ramalinga Raju, the founder and former Chairman of Satyam Computers, is not the only one who has been a witness to the leniency shown by the court, for there are many other related instances.

The spectacular collapse of the Polly Peck business empire, everyone must remember, had the master mind Asil Nadir behind it. He is said to have allegedly transferred 34 million pounds to his own account. But he will soon be returning to Britain on bail and won’t even face any sort of punishment for escaping from the country. For, the bail, a UK court says, had never been properly set.

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HCL Infosystems Sees an Upsurge

Posted on August 27th, 2010 in Company Updates, HCL Infosystems, India, India Shares, Technology Sector

HCL Infosystems Sees an Upsurge

HCL Infosystems is said to have paid three interim dividends aggregating to Rs. 5.50 per share, this year along with a final dividend of Rs. 2 per share.

A marginal increase of 1.01% has been seen in its consolidated net profit at Rs. 242.38 crore in comparison to the Rs. 239.95 crore in the previous fiscal. The income from operations last year, which hovered somewhere around Rs. 12, 252.41 crore has now reached Rs. 12, 049.82 crore. This was for the year ended 30 June.

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