Q2 - FY10 Results : OFSS up by 119% yoy

Oracle Financial Services Software Limited, a majority owned subsidiary of Oracle, announced Indian GAAP results for the second quarter of fiscal year 2010 with consolidated net income of Rs2.05bn, up by 119% compared to the same quarter last year, and operating income of Rs1.86bn, an increase of 76% compared to the same quarter last year.

Consolidated Indian GAAP revenues for the second quarter were Rs6.79bn, down 3% year over year. The EPS for the quarter was Rs24.42, up 119% compared to the same quarter last year. Consolidated revenues for the half year were Rs13.89bn, up 4% compared to the corresponding period last fiscal year. The consolidated net income for the half year was Rs3.90bn, up 96% over corresponding period last year.

iyen Comments : However employees sigh “So how that matters for us, let them enjoy & nothing more to comment (at least for now) ”

Oracle - Java: Oracle Buys Sun Microsystems

Oracle Corporation (NASDAQ: ORCL) and Sun Microsystems (NASDAQ: JAVA) announced last week they have entered into a definitive agreement under which Oracle will acquire Sun common stock for $9.50 per share in cash. The transaction is valued at approximately $7.4 billion, or $5.6 billion net of Sun's cash and debt. "We expect this acquisition to be accretive to Oracle's earnings by at least 15 cents on a non-GAAP basis in the first full year after closing. We estimate that the acquired business will contribute over $1.5 billion to Oracle's non-GAAP operating profit in the first year, increasing to over $2 billion in the second year. This would make the Sun acquisition more profitable in per share contribution in the first year than we had planned for the acquisitions of BEA, PeopleSoft and Siebel combined," said Oracle President Safra Catz.

The Board of Directors of Sun Microsystems has unanimously approved the transaction. It is anticipated to close this summer, subject to Sun stockholder approval, certain regulatory approvals and customary closing conditions

--Iyen

Gold : 26% return in 100 days

Glitter of gold has outshined all other investments since the meltdown started last October. Deepening worries over global economic outlook has sparked off a rally in gold prices which rewarded investors with 26% return in just hundred days.

Large funds and investors are shifting their moolah to gold, always a safe bet. Since October 10, 2008, gold prices in the domestic markets have moved up by nearly 26% to Rs 14,268 per ten gram, while the benchmark sensex has shown just 4% gain during the same period. Silver prices too have chased the gold prices and it has gone up 22% to Rs 19,752 per kg.

Analysts firmly believe that large investors and hedge funds are dumping other investments and diverting their funds to the yellow metal on fears that the recession would cut deeper than anticipated.

"Prices of all commodities have gone down, except for gold and silver. Investors in global markets are largely parking their funds in gold to protect the value of their money," said Naveen Mathur, head of commodities, Angel Broking. The top five gold exchange traded funds (ETFs) of the world have increased their gold reserve by 108 tones in the past three months. The total holding of these five ETFs has gone up from 972 tones to 1080 tones.

However, rising gold prices have pulled down imports of gold in the country, as retailers are staying away from making fresh buying at these levels. India's average import of the gold is around 50 tones per month but it dipped to just two tones in January 2009, said Devarsh Vakil, analyst with Anagram Comtrade.

Ref: EconomicTimes

L&T to Increase Stake in Satyam

Larsen & Turbo is all set to increase it stake in Satyam from current 12% to 15% so that SEBI acquisition norms it can go for open offer for an addition 20%.

However L&T is waiting for SEBI to relax its pricing norms.Sources also say L&T is likely to counter-bid if other parties put up a formal bid for Satyam.


--Gopi

SBI Freezes Home loan Interest @ 8 %

State bank of India has come up with new home loan scheme "SBI Lifestyle Loan" under which customers can avail themselves of eight per cent interest rate for one year.

"However, this facility would be available to the extent of 10 per cent of their home loans but up to a maximum of Rs. 5 lakh", an SBI release says.

The new scheme of eight per cent interest rate will be offered for loans taken during February 2 and April 30, the release says.
After the first year, the applicable rate will be charged for the loans.

-- ZEENEWS

--Gopi