Ambani and Adani account for a fifth of the net worth of all billionaire promoters in the country and half the combined net worth of the top 10.
Wipro Ltd, the country's third biggest software services firm, on Thursday said it was looking for acquisitions in Germany and Canada to take advantage of the growing markets there.
Recently, IT czar Azim Premji bought a 10 per cent stake in Subhiksha through his personal investment arm for nearly Rs 230 crore, valuing the retailer at Rs 2,300 crore. Premji's firm purchased this stake from ICICI Venture. However, this time around, Subhiksha promoters are expected to issue fresh equity to investors and expect the valuation to be around Rs 3,800 crore, sources said.
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.
On Friday (April 18), Premji in a clear signal of giving more powers to the management, elevated Girish Paranjape and Suresh Vaswani as joint CEOs of Wipro Technologies, which reported a topline of $4.3 billion. Read excerpts of an interview with Girish Paranjape and Suresh Vaswani, joint CEOs of Wipro.
Plans to enter the Southeast Asian market through acquisition.
Aim is to drive accountability and bring the organisation closer to the client.
Wipro on Monday said its shareholders have approved the company's plans to hive off non-IT business into unlisted arm.
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.
A group of prominent personalities, including industrialists Azim Premji, Keshub Mahindra and Deepak Parekh, have expressed concern over a series of scams leading to 'governance deficit', but said that national challenges like fighting corruption cannot be solved by urban protests and posturing.
T K has been an integral part of the organisation's leadership for years, says Azim Premji.
Lakshmi Mittal tops the list, Azim Premji ranks second while third are the Ambani brothers. The 40 richest people in India have a total net worth of over $60 billion.
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.
"I cannot agree with any statement which says that there is lack of governance. I cannot agree with that perception at all," Information and Broadcasting Minister Ambika Soni told reporters.
Fascinating stories of how 30 famous companies got their names.
"The group expressed belief that philanthropy and social service are integral to the development of any society. The meeting was focused on sharing ideas on philanthropy and not about any pledges. It discussed social work in areas like education, health, water and agriculture," stated the Azim Premji Foundation, the not-for-profit organisation run by Premji.
The committee is considering 1,300 names for this year's awards from which it is likely to select 120.
A group of prominent personalities, including industrialists Azim Premji, Keshub Mahindra and Deepak Parekh, have expressed concern over a series of scams leading to 'governance deficit'.
The growth target of 9 per cent is, in fact, not sustainable in the long run, Stiglitz said during a public lecture on 'Globalisation, Development and Inequality' organised by the Azim Premji University and Institute for New Economic Thinking in Bengaluru.
Sources in the company said the company had already started appraisals to give the hike from October. The Azim Premji-owned company -- which also has interests in consumer care, lighting and engineering equipment -- usually gives salary hikes to its offshore employees in October and onsite employees in January.
To start with, the foundation is coming up with two schools in Noida and Gurgaon.
There is no substitute for hard work. I think the smartest people in life don't get ahead. It's the hard working people who do, says Rishad.
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.
"...Chief Executive Officer and Managing Director Abidali Z Neemuchwala has decided to step down due to family commitments," the BSE filing said. The board of directors has also initiated a search to identify the next chief executive officer, it added.
Cognizant derived 41 per cent of its revenues from financial services.
We bring you inspirational excerpts from some of the most powerful and inspiring graduation speeches by the likes of Larry Page, Steve Jobs, Azim Premji and Shah Rukh Khan.
Total number of billionaires, this year, has increased to a record 1,210 from 1,011 last year. Though America has the 33 per cent of the mega-rich, Asia-Pacific region has surged forward and overtook Europe for the first time.
At Rs 20,000 crore (Rs 200 billion), e-commerce has seen one of the fastest rates of growth in investment activity this year.
Incidentally, the shareholders' approval for Shravin Mittal's appointment with an annual salary of up to Euro 250,000 (nearly Rs 1.50 crore), came on the same day (September one) when Wipro promoted chairman Azim Premji's son Rishad as chief strategy officer. Shravin would be a staff member in Bharti Airtel International (Netherlands) BV, or BAIN.
The recovery now under way is likely to be broad-based, stretching across geographies, businesses and verticals, according to Wipro chairman Azim Premji, who is the industry doyen.
Reliance Industries' Mukesh Ambani, IT honchos Azim Premji and S Ramadorai and Chairmen of oil PSUs will accompany Prime Minister Manmohan Singh on his maiden visit to Saudi Arabia from February 27 when the two countries will ink nine pacts.
PGDIE, NITIE, Mumbai, invites students and working professionals for Lakshya, a corporate and B-school students' event.
The company plans to set up a new IT park near Kolkata and recently the company's Chairman, Azim Premji, had signed an agreement with the state government to acquire additional land.
Leading industrialists met with Prime Minister Manmohan Singh (not in picture) in New Delhi on Thursday to discuss the general state of the Indian economy and other industry-related matters.
In a step towards complying with the new shareholding norms on promoter holdings, the Azim Premji Foundation said it would sell 35 million shares of Wipro through an auction route, opening on Wednesday.
In April 2008, Wipro's technology business saw one of its biggest churns in the wake of the appointment of Girish Paranjpe and Suresh Vaswani as joint CEOs under an experimental management structure devised by Chairman Azim Premji.
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