Aim is to drive accountability and bring the organisation closer to the client.
Commercial vehicle manufacturer Eicher Motors said on Monday it had tied-up with Wipro Infrastructure Engineering to source hydraulic tipping kits for its new range of tippers.
Wipro's IT Business crosses $3 billion in FY 06-07;
T K Kurien talks on the outlook for the next year, the slow growth in the retail vertical and initiatives to introduce automation.
India's third largest IT company HCL Technologies on Friday reported a flat year-on-year growth in net profit in the March quarter at Rs 3,986 crore. However, the company posted an 8.4 per cent decline in net profit on a sequential basis, amid rising employee cost and tightening IT spends around the world. The company described the performance as "decent" in view of the global macroeconomic conditions.
As a venture partner, DVP said that Neemuchwala would be bringing deep technology expertise and invaluable experience of building businesses.
This is evident in the firm's client addition and mining abilities, and also in its ability to stabilise employee attrition.
So far, all three have launched their own initiatives to train teachers and students in information technology. While Infosys BPO has Project Genesis to train faculty, which in turn teaches students, Wipro recently launched a similar programme called Mission 10x.
"Outlook for wages and salaries... given the current scenario, we have no plans for increase in the course of the year," the Bangalore-headquartered, New York Stock Exchange-listed company's executive vice-president, Pratik Kumar said. On campus hiring in the current fiscal, he said the company would visit the colleges (only) in January-March (unlike previous years when they selected students a year before they got the degree) but gave no firm numbers.
'Jobs openings are scarce, but these companies are either hiring or laying off relatively few workers,' Forbes said. The magazine noted that technology and service firms dominate the 'list of job creators.' These firms are among the world's 2000 biggest companies compiled by Forbes and the league is topped by American industrial conglomerate General Electric. It also includes 47 Indian entities.
Among the Sensex firms, Wipro, HCL Technologies, NTPC, Reliance Industries, Infosys, IndusInd Bank, Tech Mahindra and Tata Consultancy Services were the major laggards. IT stocks fell on profit-taking after rallying sharply in the past two sessions. Tata Steel, Titan, Maruti, Larsen & Toubro, ITC and JSW Steel were among the gainers.
Software major Wipro on Friday posted a net profit of Rs 411.70 crore (Rs 4.117 billion) for the second quarter ending September 30, up by 79 per cent over Rs 230.20 crore (Rs 2.302 billion) reported during the same period last year.
Wipro Infotech, the India and West Asian IT business of Wipro, aims to use its data centre platform to offer a host of services, including cloud computing and software as a service (SaaS) on a pay-per-use model, Anand Sankaran, senior vice-president told Business Standard.
Wipro on Friday said it has employed 30 cost-cutting measures, especially in the area of operational efficiency, to tackle the current downturn.
Among the Sensex firms, Nestle rose the most by 4.66 per cent. NTPC rose by 2.16 per cent, Reliance Industries by 1.53 per cent, State Bank of India by 1.04 per cent and Hindustan Unilever by 1.03 per cent. ITC, Power Grid and Bajaj Finance were the major gainers. Wipro, Tata Consultancy Services, HCL Technologies, Tata Steel, Bajaj Finserv and Maruti were among the laggards.
Wipro has a good brand because of the trust and quality it enjoys globally.
Azim Premji, chairman of Wipro, met the chief minister and formally accepted the plot offered in New Town Rajarhat, on the north-eastern fringes of this city.
IT major Wipro understands clearly the difference between a bribe and 'facilitating payment' and is not averse to giving gifts "in the normal course of business" provided that these do not exceed $50.
For IT services companies, ESG (environmental, social, and corporate governance) metrics are becoming a crucial component in winning deals as clients are considering sustainability a top priority and are keen to work with partners who are on the same page. "Sustainability is becoming an important part of the client's evaluation. "There is a tremendous focus across the world on sustainability, and it is becoming one of the top five business priorities.
In a communique on the National Stock Exchange, Wipro said an agreement had been signed for the buyout which was expected to be completed by Q3 of FY 2006-07.\n\n
ICICI Infotech outsmarted Tata Consultancy Services and Wipro to get the mandate from states for setting up a national tax information exchange system (Tinxsys) to track inter-state transactions and check tax evasion.
HCL Technologies was the biggest gainer in the Sensex pack, rising 5.58 per cent, followed by Tata Consultancy Services and Infosys, State Bank of India, Tech Mahindra, Tata Steel, NTPC and Wipro. In contrast, Nestle, Bharti Airtel, Maruti and ITC were among the laggards.
Bangalore based Wipro Technologies announced its Q1 results on Thursday. Compared to the last quarter, its net profit dropped to Rs 726 crore
Company says integration of various businesses will reap fruit.
India's third-largest software services exporter, Wipro said quarterly profit rose 11 per cent from a year earlier, in line with analysts' estimates, after an increase in orders boosted earnings.
IT major Wipro Technologies and Gurgaon-based knowledge process outsourcing firm Copal Partners have expressed interest in bidding for the Indian back office business of Lehman Brothers Holdings, the US-based investment banking firm that filed for bankruptcy protection on Monday.
Wipro joined its other information technology peers -- Infosys, Tata Consultancy Services and HCL Technologies in beating estimates.
ATCO's subsidiary, ATCO I-Tek, will become a part of Wipro after the closure of the deal, which is expected to be completed in this quarter.
Last week, Employees' State Insurance Corporation, a health insurer under the ministry of labour and employment, had said that its portals are facing technical problems, causing inconvenience to users.
IT company Wipro Infotech on Monday announced a tie-up with Red Hat to offer Linux services in India.
T K Kurien, chief executive officer of Wipro says the first milestone's been achieved and a complete turnaround would happen when there is consistency in growth.
Two days after the West Bengal government scrapped the ambitious IT project at Rajarhat, the Congress on Wednesday said IT majors like Wipro and Infosys should be given alternate land elsewhere in the state.
Other than the involuntary attrition, the company has reported voluntary attrition of 11.9 per cent in the third quarter. This has resulted in a drop in the number of employees in the third quarter for the second time in the current financial year. The company started seriously looking at issues such as poor performance and fudged employment details in the second quarter of FY09 when the rate of voluntary attrition suddenly went up from just 0.5 per cent to 2.5 per cent.
