Infrastructure major HCC's realty arm, Lavasa Corporation, that has floated a firm, MyCity Technology, in partnership with IT major Wipro, today tied-up with networking leader Cisco to provide Information and Communication Technology services in the newly-created Lavasa city.
Since a week ago, better-than-expected results from Infosys Limited, Tata Consultancy Services Limited and HCL Technologies Limited sparked a 13 per cent rally in the sector subindex that grinded to a halt on Friday.
With a Score of 95 on 100, Wipro is one of seven IT companies from across the world to find a place in the listing.
It is in these segments that the attrition rate is higher. Wipro witnessed an attrition rate of around 17 per cent in the last quarter. Even as the market awaits its results for the June quarter, the company is not willing to take any chance with its employees.
Trading in stock markets this week will be majorly influenced by the upcoming quarterly earnings from IT majors TCS and Infosys, along with global trends, analysts said. Besides, global oil benchmark Brent crude, rupee-dollar trend and trading activity of foreign investors would also dictate the movement, they said. "On the domestic front, all eyes will be on the beginning of corporate performance for the third quarter of the current fiscal year.
It has replacements ready even for senior managers, in case someone quits.
On the prowl for more buyouts, software major Wipro would pursue the strategy of acquisitions more aggressively in future along with other initiatives.
Wipro Infotech, the IT products and services division of Wipro, which was recently challenged by international non-profit organisation Greepeace, has finally come out with an e-waste disposal service. \n
Daily life was partially affected in West Bengal on Wednesday due to a 12-hour shutdown called by the Bharatiya Janata Party, protesting the police action against demonstrators during a march to the state secretariat.
Members of the CCC include world leaders in auto manufacturing, mobile communications and consumer electronics.
For the March 2017 quarter, Wipro expects revenues from IT services business to be in the range of $1,922 million to $1,941 million.
'When it is unpaid, sometimes, they don't take you seriously.' 'Work is not reviewed, and there is no effort in making interns learn.'
Country's third-largest software services firm Wipro has said it has been chosen as the official digital and IT partner for Chelsea Football Club.
Shares of IT services major Wipro on Monday surged nearly 8 per cent after the company reported an 8 per cent growth in consolidated net profit in the December quarter.
The country's third largest software exporter, Wipro Technologies, on Tuesday said it is looking for an acquisition in the BPO space, which is likely to be the next engine of growth for the IT industry.
Tata Consultancy Services (TCS), India's largest IT services firm, is planning to increase salaries by an average of 7-8 per cent for its offsite employees and 2-4 per cent for its onsite staffers in 2024-25. High performers can expect a raise of 12-15 per cent. The company, which had a headcount of 603,305 as of December 31, 2023, will be closely looking at the promotions and the process may also get pushed to the first quarter of FY25, revealed a source on condition of anonymity, because he is not authorised to speak to the media.
The move, first announced in March 2014, is expected to generate net annualised cost savings of $175-200 million once fully implemented.
From the Sensex basket, Titan, Reliance Industries, Asian Paints, Tech Mahindra, IndusInd Bank, UltraTech Cement, Wipro and ITC were the major laggards. ICICI Bank, Infosys, Bajaj Finserv, Tata Steel, Axis Bank, Bajaj Finance, Nestle and Mahindra & Mahindra were among the major gainers.
IT czar Azim Premji has given away almost half of his stakeholding in Wipro, India's third largest exporter of software services, to philanthropy.
Wipro Infotech on Tuesday launched a new wireless notebook, LittleGenius CP, for better mobile computing, featuring Intel Pentium M processor based on 90 nm manufacturing technology.
Technology market research firm Tech Market View said the contract, which is one of Wipro's largest deals group-wide, signals the growing influence of offshore-centric IT-BPO players in large scale UK outsourcing market.
Wipro is planning to expand into Sri Lanka and Bangladesh to tap the telecom and banking space, by leveraging on its expertise and strengths in areas such as system integration and IT managed services.
IT major Wipro has bagged a three-year "multi-million" Euro deal from Dutch pharma major Akzo Nobel for providing infrastructure management services.
The outsourcer said it is supposed to get $8 million from the US firm. Wipro further added that it is in constant talks with the firm to monitor and assess the situation.
India's third-largest IT services firm, Wipro Ltd, has acquired the enterprise mobile TV unit owned by Finland-based leading mobile phone manufacturer Nokia for an undisclosed sum.
From the Sensex basket, Power Grid, Asian Paints, Tata Motors, Tata Steel, NTPC, Sun Pharma, Mahindra & Mahindra, HDFC Bank, Tata Consultancy Services and JSW Steel were among the major gainers. Kotak Mahindra Bank, Bharti Airtel, Axis Bank, Wipro, ICICI Bank and IndusInd Bank were among the laggards.
Analyst are cautious about the performance of IT services sector from January to March quarter (Q4) of FY24 and the first half (H1) of FY25. While the Bloomberg consensus on revenue implies the market is expecting 2-3 per cent growth on a quarter-on-quarter (Q-o-Q) basis for the IT majors through FY25, the H1FY25 is likely to see even flatter returns, and Q4FY24 is likely to be poor. There is likely to be some recovery in the second half (H2FY25) but even so, there's a chance that the market will be overall disappointed.
The contract, which involves upgrade of LIC's front-end IT application programmes to make these accessible through the web, is said to be worth about Rs 200 crore, and will be done over five years. It is understood that most large Indian IT outsourcing companies, including TCS, Infosys and L&T Infotech, had competed for the contract. It was considered prestigious, not because of its size but because it involved a prestigious public sector organisation like LIC.
The new unlisted firm will include Wipro Consumer Care & Lighting (including furniture business), Wipro Infrastructure Engineering (hydraulics and water businesses) and Medical Diagnostic Product & Services business, Wipro said in a filing to the Bombay Stock Exchange.
"We see that as a next emerging opportunity. We are positioning ourselves very strongly," Wipro chairman Azim Premji told reporters in Bangalore. He noted the IT sector, whose size was small 20 years ago, had grown substantially and constituted some 27 per cent of the country's exports and some 4-5 per cent of its GDP, indicating that green technologies holds similar business potential.
Wipro Technologies, the country's third largest software services exporter, today said the company might go slow on its campus-hiring plans till demand picks up.
The Odisha govt is annoyed with Wipro's lackadaisical attitude.
BusinessObjects, a provider of business intelligence products and solutions, on Monday announced its tie-up with Wipro Infotech aimed at strengthening the latter's position in the business intelligence market
Wipro, which gets bulk of its topline from IT services, said it expects revenues from that business to be in the range of $1,962-2,001 million in the September quarter.
