Bhanumurthy B M, president and chief operating officer, Wipro, tells Ayan Pramanik and Raghu Krishnan that service delivery through digital technology-enabled platforms will change the business dynamics for the company.
Scam-hit Satyam seems to be losing its status as a noteworthy rival for the top Indian IT firms, as Wipro has become the second major player in this space after Infosys to drop its name from the list of competitors.
'Today's engineering graduates have to learn the skills to solve problems which is actually a higher order skill.'
Investors' wealth eroded by Rs 6 lakh crore in a single day on Wednesday as the BSE benchmark Sensex tumbled over 790 points. The 30-share BSE Sensex fell by 790.34 points or 1.08 per cent to settle at 72,304.88. During the day, it slumped 872.93 points or 1.19 per cent to 72,222.29.
M&M was the biggest gainer in the Sensex chart, rising 6.51 per cent, followed by NTPC, PowerGrid, SBI, HDFC Bank, Asian Paints and Wipro. In contrast, Axis Bank, ITC, HUL, Nestle India and Sun Pharma were among the laggards.
Subject to customary regulatory approvals, the acquisition is expected to be completed during the quarter, the Bengaluru-headquartered company said. Financial details of the transaction were not disclosed.
In a massive top-level reshuffle last week, Wipro, India's third-largest IT services firm, announced the exit of Anand Sankaran who was handling a major chunk of the company's overall business.
The Bangaluru-based firm has forecast third quarter revenue from its IT services unit in the range of $1.5-1.53 billion.
In a top level reshuffle, software services major Wipro on Thursday appointed Soumitro Ghosh as head of Wipro Infotech replacing Senior VP and Business Head of Global Infrastructure Services Anand Sankaran, who quit the company hours before the rejig was announced.
Wipro, the $5 billion company with interests in IT services, consumer care, lighting and furniture, is entering a new set of businesses which will enable the company to leverage its growth on the clean energy and agriculture sectors. The company is readying a plan to include alternate energy, water treatment, food and agriculture businesses under its infrastructure business - Wipro Infrastructure Engineering Limited.
Wipro will be implementing the core banking solution for Paytm.
Wipro Technologies, the IT services division of Wipro Ltd, said on Wednesday that it has become the first company outside the US to be conferred with Software Process Achievement
Benchmark equity indices ended marginally higher on Thursday, trimming most of their intra-day gains, as investors turned cautious ahead of the quarterly results of IT behemoths TCS and Infosys later in the day. Announcement of the US inflation data and domestic macroeconomic numbers also forced investors to remain on the sidelines. The 30-share BSE Sensex climbed 63.47 points or 0.09 per cent to settle at 71,721.18.
Cognizant derived 41 per cent of its revenues from financial services.
In the Sensex pack, 20 stocks ended in the red while 37 of the Nifty constituents closed the session with losses. NTPC was the biggest loser among the Sensex constituents, ending with a loss of 2.71 per cent.
An Indian woman employee at the London office of IT major Wipro has filed a 1 million pounds compensation case of sexual discrimination.
Wipro and Tata Power are among the world's most ethical companies, according to American think tank Ethisphere Institute.
Sensing potential in the remote infrastructure outsourcing market, Wipro Technologies is investing heavily in the business and will soon open a centralised global command centre in Bangalore.
Among Sensex gainers, Power Grid jumped the most by 4.16 per cent after its board approved an investment of Rs 656 crore in transmission projects. Private lenders HDFC Bank, Axis Bank, Kotak Bank, IndusInd Bank and ICICI Bank were also among lead gainers. NTPC, Nestle and Hindustan Unilever also ended the session with gains.
Among the Sensex firms, Tata Steel, Tata Motors, Asian Paints, Wipro, State Bank of India and Larsen & Toubro were the major gainers. ICICI Bank, NTPC, Axis Bank and Mahindra & Mahindra were among the laggards.
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.
Software services major Wipro on Wednesday said its BPO has been rated among the top global Finance and Accounting (F&A) service providers by analyst firm HfS Research.
Revamp zeroes on consumer brands facing stiff competition, slower growth.
Among the Sensex firms, Bajaj Finance, Mahindra & Mahindra, UltraTech Cement, Bajaj Finserv, Asian Paints, Hindustan Unilever, Tata Motors and JSW Steel were the major laggards.
Wipro has been quite aggressive among Indian IT services companies in acquisitions as a strategy to buy the capabilities in emerging technologies.
Wipro Ltd named T K Kurien president of Wipro HealthScience. Kurien will report into Vivek Paul, vice chairman.
The company has also expanded its SAP services in the utilities industry, supply chain management and customer relationship management domain.
One of the good things about our business is, if customers are under pressure and in a cost-cutting mode, we are able to provide more efficient solutions.
Banerjee was one of the people instrumental in shaping the future of Wipro's IT business in its early days.
Wipro Ltd on Wednesday clarified that company Chairman Azim Premji had stated in Mumbai that the IT major would consider accessing the capital markets only if the need for funding large acquisitions arose.\n\n\n\n
Among the Sensex firms, Larsen & Toubro, Tata Consultancy Services, Infosys, HCL Technologies, Hindustan Unilever, Axis Bank, ICICI Bank and Wipro were the major gainers. Nestle India, Asian Paints, JSW Steel, Kotak Mahindra Bank and HDFC Bank were among the losers.
According to the 18th version of Greenpeace's Guide to Greener Electronics, Wipro has topped the list of 16 electronic companies across the world based on their commitment and progress in three environment criteria: energy and climate, greener products and sustainable operations.
A chess buff, Neemuchwala enjoys volunteering, travelling, Indian music, reading fiction, and golf.
Wipro is poised for double-digit growth in the coming years as the US market is recovering and consumer spending improving, Chairman Azim Premji said.
'We are looking at the next target which is to be a $1 billion ARR firm in the next 4-5 years.'
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