IT services company's CEO outlined an ambitious three-year roadmap to accelerate revenue growth and lift margins.
'Abid Neemuchwala has demonstrated a deep understanding of technology, business vision, sound judgment, and an innate ability to bring people together.'
Fear of a recession in the US due to rising unemployment has added to the concerns of India's IT services sector, which was seeing some growth returning after Q1FY25 results. The Nifty IT closed 3.26 per cent down, as major IT services companies' stock value fell. Tata Consultancy Services (TCS), India's largest IT services firm, saw its stock price fall 4 per cent during intraday trading.
'We are not in the race of how much is the revenue, but how good is the revenue.'
Wipro Lighting, the consumer products division of Wipro Ltd., has tied up with Concord of UK to sell its architectural range of lighting products in India.
Wipro has taken various initiatives to infuse a green element into its business, by offering solutions that would help the company and its customers optimise energy efficiency and deal with waste
Wipro, the software to vanaspati maker, has effected key management changes to drive the company in the next phase of growth.
As the job markets open up, top IT services firms may look at a tiered strategy in which they hire entry-level talents at higher salaries, amid a major technological shift, say HR analysts.
As the results season kicks in, the quarterly earnings numbers of several blue-chip firms -- such as Infosys and Reliance Industries -- along with global trends and trading activity of foreign investors, will determine equity market movement in the holiday-shortened week ahead, according to analysts. The domestic WPI inflation data for June -- scheduled to be announced on Monday -- will also influence trading sentiments, traders said. Markets will remain closed on Wednesday for Muharram.
M&M was the biggest gainer on the Sensex chart, rising 5.97 per cent, followed by JSW Steel, Ultra Cement, Kotak Bank, ITC and NTPC. Reliance Industries gained 0.73 per cent to close at Rs 2,871 apiece. In contrast, TCS, HCL Tech, HUL, Nestle Industries, Bajaj Finserv, Wipro and Infosys were among the losers.
Demerger to cut Premji holding by 2.7 per cent, investors to get 12 per cent more for their shares.
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Currently, the Shannon Development Centre employs over 200 professionals, delivering IT and business process services' offerings to marquee retail banking and insurance customers across Ireland and the UK.
IT major Wipro Infotech on Friday started its operations from the Infopark in Kerala, aiming to make its Kochi unit one of its key complexes.
Abid ali Neemuchwala's ambitious plans for Wipro.
"We are selectively looking at acquisitions it will be a string of smaller ones," Wipro chairman Azim Premji told reporters on the sidelines of a conference.
Revenue from its IT services business rose 9 percent to $1.86 billion.
Wipro Technologies and Excelergy Corporation have signed a partnership agreement to jointly market, deploy and integrate the complete line of Excelergy platforms, including the CustomerPoint CIS/CRM solution.
This partnership will significantly enhance customer experience and satisfaction through the use of IT, Wipro said in a statement.
'We have focused on it quarter after quarter and started to build the pipeline.'
"Police and bomb squad have carried out their search at Wipro campus and found no suspicious object in the vicinity," Bangalore police Commissioner Raghavendra Auradhkar said.
Wipro chief Azim Premji on Tuesday said the company is looking at acquisition of $50-100 million companies abroad.
These 90 new jobs are in addition to the 280 staff that Wipro already employs across Scotland.
On Wednesday, Wipro Infotech in exclusive partnership with California-based ZResearch launched the Wipro Supernova range of supercomputers and superstorage systems in India.
For the full 2016-17, Wipro's profit fell nearly 5 per cent to Rs 8,518 crore while total income grew 7.4 per cent to Rs 57,995 crore compared to the previous fiscal.
The second campus would have the potential to create around 18,000 jobs
Its revenue from operations, however, grew 8.3 per cent to Rs 14,541 crore during the period under review from Rs 13,423.4 crore in the same quarter last year.
From the Sensex pack, Tata Steel, Titan, Tech Mahindra, Wipro, Bajaj Finserv, Bajaj Finance, Nestle India, Tata Motors and JSW Steel were the biggest laggards. ICICI Bank, Axis Bank, HDFC Bank, State Bank of India and Kotak Mahindra Bank were the gainers.
Benchmark equity indices Sensex and Nifty ended lower on Monday after hitting their all-time high levels in early trade amid selling in blue-chip IT stocks and HDFC Bank. After breaching the 77,000-mark during the early trade, the 30-share BSE Sensex came under selling pressure at the fag-end of the session and ended 203.28 points or 0.27 per cent lower at 76,490.08. During the day, the benchmark jumped 385.68 points or 0.50 per cent to hit a new record of 77,079.04.
The company will significantly increase its rate of patent filing.
Firm evaluating options, could spend over $400 million.
Wipro, India's third largest information technology (IT) services company, is expected to continue with its strong show during the October-December quarter of financial year 2014.
From the Sensex firms, Power Grid, NTPC, Tech Mahindra, Bharti Airtel, Tata Motors, IndusInd Bank, Reliance Industries, Kotak Mahindra Bank and Maruti were among the laggards. Asian Paints, Wipro, JSW Steel, Hindustan Unilever, Bajaj Finserv and Mahindra & Mahindra were among the biggest gainers.
Maruti, Bajaj Finance, Titan, Kotak Mahindra Bank, HDFC Bank, IndusInd Bank, Mahindra & Mahindra and Larsen & Toubro were among the major gainers. Wipro, HCL Technologies, Nestle, Tata Consultancy Services and Tata Motors were among the laggards.
From the Sensex basket, PowerGrid, Bharti Airtel, Wipro, HDFC Bank, Kotak Mahindra Bank, UltraTech Cement, Asian Paints, Infosys and Reliance Industries were the major laggards. Bajaj Finance, NTPC, Larsen & Toubro, Axis Bank, Tata Motors, IndusInd Bank and Bajaj Finserv were among the gainers.
Wipro Technologies, the global IT services business of Wipro Limited, on Tuesday announced that it has been recognized as a winner of the 2009 Global MAKE (Most Admired Knowledge Enterprises) Award for 'developing knowledge workers through senior management leadership' and 'Creating an environment for collaborative knowledge sharing.
India's third-largest software company, Wipro, has initiated a second round of major business and executive changes within a few weeks. A fortnight ago, the company announced the appointment of Suresh Vaswani and Girish Paranjpe as joint chief executive officers of Wipro Technologies, the company's global IT arm.
Wipro may not see good growth in APAC regions in ensuing quarters.
The voting rights with the promoter will ensure the interests of the promoter family as well as minority shareholders are protected in future, said corporate governance advocates and corporate lawyers.
The jury is still out on whether this will lead to re-skilling.
