TCS’s better-than-expected Q3 profits help sentiments: While Infosys had come out with Q3 results that belied analyst expectations a little, Tata Consultancy Services (TCS) has given a much needed relief to a bearish market by posting a net income of 23.7 billion rupees in the October – December 2010 quarter. This is above analyst expectations by a notch. Bloomberg said its polls had indicated a profit of 21.9 billion rupees. TCS stocks rose 2.9 percent Rs 1,171 in early morning trading at the Bombay Stock Exchange on January 18, helped by a Sensex that was up 101 points at 9:15 am.
Groupon to acquire India’s SoSasta: According to various media reports, the Chicago, US-based deal-of-the-day Web company, Groupon is acquiring Kolkata, India-based deal making site SoSasta for an undisclosed amount. SoSasta offers deals for 11 major cities in India, including Delhi/NCR, Mumbai, Chennai, Kolkata, Bangalore, Hyderabad, Pune, Ahmadabad, Chandigarh, Jaipur and Nagpur. News reports say post the acquisition, SoSasta could be rebranded as Groupon India. This reminds one of the rebranding of Baazi, post its acquisition as eBay India.
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