Industry chieftains, strategists and analysts were unanimous that a slowdown, if at all happens again, won't affect the prospects of the $17-billion industry.
According to two independent sources in the know, the group is exploring the possibility of tapping private equity investors for a significant minority stake in the company or may even exit the business, provided it gets a significant exit premium.
Both these roles were handled by Laxman K Badiga, who took 'voluntary retirement' earlier this month after over three decades of service.
T K Kurien, CEO, IT business of Wipro, throws light on the company's strengths of weaknesses and its strategy.
The Internet Corporation of Assigned Names and Numbers' (ICANN) decision to expand gTLD (generic top-level domain) names on the internet to include almost any name (even .anything), is foxing both users and registers. It has also raised fears of online trademark violations and cybersquatting.
With the appointment of Mahendra Kumar Sharma, former vice-chairman of Hindustan Unilever Ltd, as an independent director of Wipro, it is clear that the tech giant wants to strengthen its corporate governance practices.
Ashutosh Vaidya, head, Wipro BPO Solutions, and Deepak Jain, head, Technology Infrastructure Services, have put in their papers, said the sources. The reasons for the resignations could not be confirmed.
The company has separated SMB, earlier part of its consumer division, to make it an independent business.
At present, at least, five over $500-million deals are being discussed for potential acquisition.
Wipro is trying to strengthen its presence in the banking, financial services and insurance (BFSI) segment by increasing its revenue share on par with other leading Indian information technology (IT) service companies.
During the quarter ended March 31, it added seven clients, the highest since the third quarter of 2007-08.
iGate Patni is all set to compete with the likes of IBM, Accenture, Infosys and Congnizant.
Banerjee was one of the people instrumental in shaping the future of Wipro's IT business in its early days.
Large-cap plus in low-cost delivery, investment in new services adds to sectoral push
The report said recent concerns about manpower like attrition, quality of talent and rising wages, have compelled IT companies to take a relook at their so far successful offshore business model more than ever before.
The Bangalore-based company has revamped itself as it aims to simplify its business structure and focus on being a specialist in certain areas.
TCS is stepping into an unchartered territory by targeting the small and medium enterprises.
The UPA government looks set to give the contract a decent burial and, in turn, redeem ISRO and itself.
According to Grant Thornton's January data, IT & ITeS tracked the highest in terms of value, with the industry investing $1.2 billion in M&A over 12 deals.
This is where 300-odd executives of Infosys and 30 I-T officials, headed by commissioner Sanjai Kumar Verma, process all I-T returns filed electronically (e-filing) across the country and all paper filings of Karnataka.
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