Wipro CFO Suresh C Senapaty on Thursday said there is hope of corporate sector sentiments improving after P Chidambaram assumed charge as Union Finance Minister and wanted the Centre to convert it into policy action.
The total income of the company rose by 34.64 per cent at Rs 4,883.6 crore (Rs 48.83 billion) for the quarter reviewed against Rs 3,627 crore (Rs 36.27 billion) for the same quarter last year, Wipro said in a communique to the Bombay Stock Exchange.
In an interview with Mahesh Kulkarni and Archana Prasanna, Wipro's joint chief executive officer Girish Paranjpe says the company expects uniform growth in information technology spends, despite flat to marginally positive IT budgets in 2010.
The IT exporter had a net profit of Rs 978.2 crore (Rs 9.78 billion) in the September quarter of last fiscal, Wipro said in a filing to the Bombay Stock Exchange. Total income of the company rose to Rs 7,057.4 crore (Rs 70.57 billion) during the July-September quarter of the current fiscal, from Rs 6,664.8 crore (Rs 66.64 billion) in the year-ago period, as per the Indian accounting norms.
Corporate India reported high double-digit growth in net profit for the fourth consecutive quarter in October-December 2023 (Q3FY24), driven by margin gains from lower prices of raw material and energy.
Unfazed by the US outcry on outsourcing and the implications of the recent cut in number of US visas, Wipro Chairman Azim Premji aims to turn his company into one of the top 10 IT service companies in the world.
The current (third) decade of IT services is based on process improvement and creation of intellectual property
Bharti Airtel was the biggest gainer in the Sensex pack, rising 2.37 per cent, followed by Mahindra & Mahindra, HCL Tech, Tata Motors, Tech Mahindra, HDFC Bank, Wipro, Tata Consultancy Services, Axis Bank and Nestle. Asian Paints, Hindustan Unilever, Bajaj Finserv and NTPC were among the laggards.
The government on Wednesday granted approval to Nokia, Wipro, Hewlett Packard, Reliance, Biocon, Ranbaxy Laboratories, Mahindra and Mahindra, Reliance energy and Adani Group's to set up Special Economic zones.
Wipro, HCL in race for Sebi's fraud detection system upgrade,
Tata AIG Life Insurance Ltd will extend insurance cover to 15,930 employees of Wipro Ltd for a total sum assured of Rs 876 crore (Rs 8.76 billion).
Investors' wealth eroded by Rs 7.59 lakh crore on Monday as the equity market took a heavy drubbing amid escalating tensions in the Middle East. The 30-share BSE Sensex plunged 825.74 points or 1.26 per cent to settle at 64,571.88 points. During the day, the index plummeted 894.94 points or 1.36 per cent to 64,502.68 points.
Tamil Nadu on Thursday decided to allocate ten acres of land to Wipro and five acres to Tata Consultancy Services in Coimbatore.
Total Revenue increased by 41% YoY to Rs. 35.46 billion
"We found value in people being given flexibility instead of asking them to come to work when there is no work. We have also given them a choice of coming to office 10 days at a stretch in a month, rather than coming two days every week," says Girish Paranjpe, joint CEO of its information technology business.
Domestic IT majors Tata Consultancy Services and Wipro are believed to be front-runners for a multi-million outsourcing deal from UK-based telecom and networking major Cable & Wireless.
The West Bengal state government has delayed project approvals. And now, the IT giants may look at other states as the centre is thinking of giving sops to SEZs
A lot depends upon the crucial decision-making skills of the management. If you have any doubts about the management then you always have the choice of selling your shares or not buying stocks of those companies at all.
IT major Accenture's second straight cut in its revenue growth forecast for FY23 suggests there is more pain ahead for the Indian IT sector, say analysts. Accenture has lowered the top end of its FY23 growth guidance in constant currency (CC) to 9 per cent from 10 per cent earlier. The firm, which follows a September-August fiscal cycle, expects a 2-6 per cent CC growth in Q4 of FY23 (June-August 2023) versus the 6-10 per cent prior guidance.
The market capitalisation of BSE-listed firms touched an all-time high of Rs 296.48 lakh crore on Friday as the benchmark Sensex hit its new life time peak amid bullish investor sentiments.hit its new lifetime peak. Rallying for the third day running, the 30-share Sensex surged 499.42 points or 0.78 per cent to reach its all-time high of 64,414.84 in early deals. Thanks to the rally in equities, the market capitalisation (mcap) of BSE-listed companies jumped to Rs 2,95,72,338.05 crore.
While about 8,000 people are in the long list of invitees, the select list features 506 A-listers, including prominent politicians, leading industrialists, top film stars, sportspersons, diplomats, judges and high priests.
Its FY08 consolidated net profit was at Rs 3,282.90 crore (Rs 32.81 billion) and consolidated net sales was at Rs 20,019.50 crore (RS 200.19 billion).
Indian IT services companies have seen several CEO changes that have, over the past few months, led to some crucial exits at the mid-senior level in a trend that is likely to continue. According to a recent Motilal Oswal report, "Movement of mid-to-senior leadership at IT services firms is a reality, partially on account of multiple CEO-level changes.
Deals worth $27 billion are up for renewal. Of these, almost $1.7 billion worth of contracts are currently with Indian services providers, said data from TPI.
The company's revenues rose by 13 per cent to Rs 9,613.1 crore (Rs 96.13 billion).
Wipro Ltd will remain a publicly listed company that will focus exclusively on information technology, while Wipro Enterprises will be an unlisted company.
Investors' wealth fell by Rs 2.89 lakh crore in two days of market fall, with the BSE Sensex tumbling 796 points on Wednesday, amid weak global market trends ahead of the US Federal Reserve's interest rate decision. Fresh foreign fund outflows and caution ahead of a host of interest rate decisions from global central banks also added to the overall bearish trend. Besides, the US Fed meeting, the BoE (Bank of England) and the BoJ (Bank of Japan) are also scheduled to meet this week.
The IPO boom in 2023 added four new promoters to the billionaires' list.
Software major Wipro Ltd has decided to take up its second project, a technology centre, in West Bengal with a total investment of Rs 75 crore earmarked for the state.
For innovation, Bharti Airtel and ICICI Bank are followed by Infosys, TCS and HCL Technologies in the top five. These are followed by Anil Ambani-led Reliance Communications, Wipro, Satyam, M&M and Hindustan Lever (now known as Hindustan Unilever in the order of their rankings.
The Bengaluru-based company had posted a net profit of Rs 1,456.4 crore (Rs 14.56 billion) in the year-ago period, it said in a filing to the Bombay Stock Exchange.
Wipro chairman Azim Premji on Wednesday said the company would explore the Pakistan market for its range of products including consumer products and information technology.
Two US lawmakers have asked nine foreign-based firms, including some leading Indian companies that used 20,000 of such visas, to disclose details about their workforce and their use of the special programme.
According to officials in the state IT department, as part of the 2009 incentive scheme, the sop is currently available for all IT companies looking to set up or expand base in Kolkata.
