The Nifty IT index, data shows, has outperformed the markets in each of the last four election years post the result. announcement.
Software major Wipro Technologies and US-based HighJump Software announced a strategic alliance on Thursday to offer complete, integrated multi domain solutions in supply chain execution market worldwide.\n\n
Among Sensex shares, Tech Mahindra fell by over 6 per cent after the company reported a 60 per cent decline in net profit to Rs 510.4 crore in the December quarter. Bharti Airtel, ITC, HCL Technologies, Asian Paints, Wipro, HDFC Bank, Nestle, Tata Steel, Tata Consultancy Services and Maruti were among the other major laggards. NTPC, ICICI Bank, IndusInd Bank, Reliance Industries, JSW Steel, Bajaj Finance, Bajaj Finserv and Mahindra & Mahindra were among the gainers.
Disappointing quarterly earnings numbers and revenue forecast from IT services company Wipro also weighed on investor sentiments. The 30-share BSE Sensex fell 247.78 points or 0.38 per cent to settle at 65,629.24 points. During the day, it plunged 533.52 points or 0.80 per cent to 65,343.50 points.
A business quiz on company logos and mascots.
Wipro Technologies, the IT services business of Wipro, has been rated the top Indian outsourcing firm in the Global Outsourcing 100 Rankings released by the International Association of Outsourcing Professionals.
Wipro Infotech, Oracle India and Mumbai-based media and entertainment technology group Media e2e have formed a media technology consortium
ICICI Bank, Axis Bank, Wipro, Kotak Mahindra Bank and NTPC were among the major gainers in the Sensex pack. The five stocks that defied the trend included UltraTech Cement, Mahindra & Mahindra, Titan, Tata Motors and Nestle.
The Bangalore-based firm also announced changes in certain key positions in the controllership team, but did not reveal the amount of money involved in the fraud.
Movement in the equity market this week will largely be dictated by quarterly earnings of blue-chip firms HDFC Bank and Hindustan Unilever, along with the announcement of WPI inflation data and global trends, analysts said. Trading activity of foreign investors, global oil benchmark Brent crude and rupee-dollar trend would also guide the movement.
Wipro Infotech on Friday announced its largest IT outsourcing deal in India.
Neemuchwala will be a big asset when it comes to setting things right.
Global IT giant, Wipro Technologies, will open a third delivery centre in China to cater to the growing needs of its multinational clients.
Shortly after scrapping the proposed IT township project -- Vedic Village -- at Rajarhat near Kolkata, West Bengal Chief Minister Buddhadeb Bhattacharjee said late on Wednesday that the two IT majors must be retained in the state, reports the Indian Express.
IT majors TCS, Wipro and Satyam have evinced interest to set up software development units in Punjab.
Benchmark Sensex rebounded by 167 points in a volatile trade on Friday amid buying in ICICI Bank, State Bank of India and Reliance Industries. The 30-share BSE Sensex climbed 167.06 points or 0.23 per cent to settle at 71,595.49. During the day, it hit a high of 71,676.49 and a low of 71,200.31.
Software major Wipro's chairman Rishad Premji on Thursday said social media platforms have integrated the world like never before and should be allowed to practice "responsive self-governance" to tackle the menace of hate and misinformation. Premji said technological developments on the digital and social media represent an incredibly powerful opportunity for betterment and the issues arising through its misuse need to be addressed immediately. "Technology, particularly digital and social media, have integrated the world as never before. "They've fostered human connections and solidarity across distances and barriers.
The company is unlikely to continue with the CEO-COO model
The country's third largest software firm said on Thursday that it will demerge non-IT businesses like Consumer Care & Lighting into a new company, a move which will allow it to focus exclusively on information technology.
Wipro said it is 'exploring all legal options at its disposal to seek redressal' against any such move by the authorities.
Wipro has signed a definitive agreement to acquire mPower Inc, a Princeton, New Jersey-based company with a development centre in Chennai, and MPACT Technology Services, based in Chennai, for an all-cash consideration of $28 million.
What is not so well-known, possibly because of the scale and size of its information technology business, is that Wipro is the third-largest Indian-owned fast-moving consumer goods company after Nirma and Dabur -- Wipro Consumer Care and Lighting, the FMCG and lighting products arm of the company, will likely end 2009-10 with sales revenue of Rs 2,500 crore (Rs 25 billion).
Global Finance, a leading finance magazine, has ranked Wipro the "best company in the computer software sector in Asia" in its annual world's best companies survey.
Wipro was the biggest gainer in the Sensex chart, rising 4.79 per cent, followed by M&M, L&T, Tata Motors, Maruti, Infosys, Nestle India and IndusInd Bank.
Shares of Tata Consultancy Services (TCS) jumped 4 per cent on Tuesday, taking its market valuation to above Rs 15 lakh crore mark. The stock of the country's second most valued firm by market valuation jumped 4.05 per cent to settle at Rs 4,133.45 apiece on the BSE. During the day, shares of the company climbed 4.45 per cent to Rs 4,149.75 -- its all-time high.
From the Sensex basket, Kotak Mahindra Bank, HCL Technologies, ICICI Bank, Infosys, Tata Consultancy Services, Wipro, Tech Mahindra and Larsen & Toubro were the major laggards. Mahindra & Mahindra, Nestle, Tata Motors and IndusInd Bank were among the gainers.
Almost all Indian IT companies would pay between $8,000 and $10,000 per H1B visa from April 1
Wipro, which employs 22,000 people across Chennai, is the latest IT service provider to warn of the impact of the floods in a city
Total revenue rose to Rs 12,140 crore
Software major Wipro has tied up with Sun Microsystems to widen its reach within the Gulf Cooperation Council countries such as UAE and Saudi Arabia.As part of the deal, Wipro would resell and integrate the entire suite of Sun systems, storage, software, and services to serve Sun's customers in the UAE, Saudi Arabia, Bahrain, Oman and Qatar.
Wipro had denied allegations of providing improper benefits to Bank staff.
Wipro's scrip jumped 2.97 per cent to Rs 468.50 on the NSE.
Software giant Wipro Ltd is planning to invest in another software development complex in West Bengal if it gets the special economic zone status from the central government.
Both these roles were handled by Laxman K Badiga, who took 'voluntary retirement' earlier this month after over three decades of service.
The first quarter of the financial year 2009-10 was exceptional for Wipro's consumer care business. Santoor, its flagship soap brand, which contributed close to Rs 850 crore in 2008-09 to the company's coffers, became the number one brand in South India in its category.
The early-bird results for the April-June quarter of 2024 (Q1FY25) hint at a slowdown in corporate revenues and profits in FY25. Corporate profits might face headwinds from a continued revenue growth slowdown and a reversal in margin gains from lower commodity and energy prices in FY24. The combined net profit (adjusted for exceptional gains and losses) of the 210 companies that have declared their Q1FY25 results so far is down 4.2 per cent from the year-ago period - their worst showing in seven quarters.
