Optimism about the Indian economy makes it all the more necessary for the country to be prepared to face competition from nations like China and the United States, Wipro Chairman Azim Premji said on Friday.
Wipro Ltd, India's third-largest software exporter, said on Friday its back office services firm, Spectramind, was on track to meet its revenue target of $12.5 million for the quarter ending December.
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
On the back of growing clout of the Indian IT sector, domestic giants Tata Consultancy Services, Infosys and Wipro may soon join the league of top 10 most valued firms globally in terms of market capitalisation in the next 2-3 years.
Indian software giant, Wipro said on Thursday that it was developing a low-cost computer that would run on low power and would have inbuilt source of two hours of standby power supply.
Microsoft founder Bill Gates with an estimated fortune of $78 billion heads the list
IT major Wipro Limited on Friday announced a 56 per cent rise in profit at Rs 427 for the third quarter ended December 31, 2004.
Claims of a spike in poverty and inequality in India during the Covid-19 pandemic are patently false as such claims are based on uncomparable different surveys, according to a paper co-authored by eminent economist Arvind Panagariya. The paper also noted that inequality fell in the country during Covid years, both in rural and urban areas as well as nationally. Panagariya, Columbia University Professor and former vice chairman of NITI Aayog and Vishal More of Intelink Advisors, New Delhi have co-authored a detailed paper 'Poverty and Inequality in India: Before and After Covid-19'.
Wipro Chairman and CEO Azim H Premji received the highest annual remuneration in the company for the fiscal 2006-07. Premji who also holds 79.58 per cent stake in the company, got an annual remuneration of $721,522.
Gautam Adani, who is diversifying into many businesses, saw a 48 per cent rise in his wealth to Rs 1.40 lakh crore and moved up two places in rankings to being the fourth richest Indian. Hinduja Brothers and HCL's Shiv Nadar were ranked 2nd and 3rd. Wipro's Azim Premji slipped two places to fifth place.
The India information technology industry, including exports and domestic market and semiconductor industry, is gaining traction despite challenges, said Azim H Premji, chairman, Wipro, at the third Freescale Technology Forum in Bangalore on Monday.
Mukesh Ambani, the patriarch of Reliance Industries (RIL), and Gautam Adani, the chairman of Adani Group of companies, have secured the top positions on the Fortune India Rich List, created in partnership with Waterfield Advisors, with respective wealth of $99.7 billion and $63.71 billion. With a wealth of $34.6 billion, the Mistry family of Shapoorji Pallonji Group holds the third position on the list, while the Poonawalla family, owners of vaccine maker Serum Institute, with a wealth of $32.9 billion, stands fourth. Stockbroker and founder of D-Mart-branded grocery stores, Radhakishan Damani, claims the fifth spot on the India Rich List with a wealth of $23.4 billion
The company will significantly increase its rate of patent filing.
Philanthropic contributions made by India's ultra high networth individuals (net wealth of over Rs 1,000 crore), also known as UHNIs, have fallen sharply to Rs 4,230 crore in FY22, from Rs 11,821 crore the previous financial year, according to the India Philanthropy Report 2023 by Dasra and Bain & Co, which was released on Wednesday. The report says that the dramatic fall, almost by a third, was due to the fact that contributions by the Azim Premji Foundation dropped by Rs 9,000 crore due to a share buyback of Wipro, which helped the foundation to access liquidity directly. However, the report laments that even excluding the Premji Foundation's contribution, "Indian UHNI contribution has not kept pace with wealth creation" and is "below par, with a 5 per cent contraction in FY2022".
Even as Srini Pallia, a Wipro veteran, is set to take charge as the chief executive officer (CEO) of the company, analysts expect the stock's underperformance to continue in the near-future. This, they believe, will be on the back of likely loss of market share, and difficult business environment. "We expect Wipro to underperform peers on growth once again in FY25 as channel checks and media reports suggest Wipro is losing share with select clients across multiple verticals.
Wipro's scrip jumped 2.97 per cent to Rs 468.50 on the NSE.
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Business leaders met Manmohan Singh to discuss the problems facing the country.
Additional levy to eat into Rs 6,000-crore income of top promoters
Mukehs Ambani, KLakshmi Mittal, Azim Premji features in top ten rich Indians list.
Reliance Industries chairman Mukesh Ambani continues to top India's richest list, according to the Hurun India Rich List 2014.
Industry asked the government to be 'brave and bold' and said that it will rise to the occasion.
R C Bhargava, Kiran Mazumdar-Shaw & Dinesh K Sarraf are other members of the business delegation
India's unemployed, the report said, were mostly those with higher education degrees and the young.
A Parliamentary panel has asked the Ministry of Labour and Employment to use and reconcile the data and studies conducted by credible agencies with that of retirement fund body EPFO for depicting real picture of job loss in the country especially in the situation like COVID-19 pandemic. The pandemic had an impact on employment in the country as the economic activities slowed down due to lockdown restrictions imposed by central as well as states to contain the spread of deadly virus from March in 2020.
Indian industry's doyen Jamsetji Tata has emerged as the biggest philanthropist globally in the last century by donating $102 billion, as per a list of top-50 givers prepared by Hurun Report and EdelGive Foundation.' Tata, the founder of what has now become a group spanning interests from salt to software, is ahead of others like Bill Gates and his now estranged wife Melinda who have donated $74.6 billion, Warren Buffet ($37.4 billion), George Soros ($34.8 billion) and John D Rockefeller ($26.8 billion), the list showed.
This will cost the government Rs 3.1 trillion, about 10 per cent of its annual expenditure, and higher than any other spending item in its Budget.
India's billionaires are pledging a decent amount of their wealth for the welfare of society.
Here's a look at how the new corporate governance norms will affect India Inc boardrooms.
While about 8,000 people are in the long list of invitees, the select list features 506 A-listers, including prominent politicians, leading industrialists, top film stars, sportspersons, diplomats, judges and high priests.
'Abid Neemuchwala has demonstrated a deep understanding of technology, business vision, sound judgment, and an innate ability to bring people together.'
The IPO boom in 2023 added four new promoters to the billionaires' list.
Pharmaceuticals, along with software and services, also added the most new entrants on the rich list 2018.
Flipkart's co-founders Sachin and Binni Bansal made their debut at 86th position with a net worth of $1.3 billion each.
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