The scrip was the top gainer at the BSE benchmark Sensex during the morning session.
Now in its ninth year, the annual NOA Awards recognise best practices in outsourcing projects, the city-headquartered company said.
Wipro is trying to strengthen its presence in the banking, financial services and insurance segment by increasing its revenue share on par with other leading Indian information technology service companies.
An interview with Wipro's CFO and executive director Suresh Senapaty where he explains what the new structure will mean for the company.
Abidali Neemuchwala, who had joined Wipro in 2015 as group president and chief operating officer, was also given 200,000 in stock options in the financial year ended March 2016.
The company's growth was driven by a decline in total expenses, lower finance cost and higher other income.
Wipro said it expects its IT service revenue for the October-December quarter of 2016-17 to be in the range of $1,916 million to $1,955 million
Revenues from IT services segment, which accounts for a significant portion of the company's topline, stood at $2.013 billion, remaining flat sequentially and up by 5.8 per cent year-on-year.
India's top technology companies will witness a tepid revenue expansion in the third quarter (October - December) of the current financial year (Q3FY24) - along expected lines - on the back of furloughs and no blockbuster deals, even as the momentum gained from Generative AI (GenAI) is likely to take centre stage. IT services and consulting firm Accenture's first quarter numbers in FY24 showed a significant pick up in GenAI spending. It signed new bookings to the tune of $450 million in this space, a surge from the $300 million signed in the whole of FY23.
From the Sensex basket, Tata Consultancy Services, Nestle, Bajaj Finserv, Wipro, Maruti Suzuki India, Reliance Industries, Larsen & Toubro and NTPC were the major laggards. Tata Steel, Bajaj Finance, JSW Steel and Bharti Airtel were among the gainers.
The Nifty IT index rose by 5.14 per cent on Friday (January 12), marking its best performance in a day since July 2020, followed by another 1.9 per cent rally on Monday. With this, the index, which tracks the share prices of India's 10 biggest information technology (IT) services companies, has increased 7.1 per cent in the past two sessions. However, the substantial rally in the index occurred at a time when India's four largest IT companies reported their worst quarterly performance in over five years.
IT distribution company Neoteric Infomatique Pvt Ltd announced on Friday a strategic alliance with infotech major Wipro for distributing the latter's manufactured notebooks, desktops and servers.
WCCGL, a division of software giant Wipro, which has been selling its Santoor brand of soaps at the Rs 5 and Rs 10 price points in Maharashtra, Karnataka and Andhra Pradesh, now plans to introduce it in five more states.
Wipro Technologies, which runs the global IT business of the IT-to-soaps conglomerate, is looking to increase its business from Japan and the Asia-Pacific (APAC) region. It sees a strong demand for intellectual property (IP) in areas such as semiconductors, System on Chip (SoC) and Radio Frequency Integrated Circuit (RFIC) design coming from Japan and the APAC region, which is emerging as the new growth engine of the world.
close to the development confirmed that a deal could be signed between the parties shortly
Wipro Infotech, the IT division of the Rs 107 billion Wipro, has announced a joint venture agreement with the Dar al Riyadh group of Saudi Arabia.
The awards, presented by the online community Outsourcing Centre, are given for the world's best outsourcing arrangements.
The deal is expected to close in the January-March quarter.
Equity benchmark indices Sensex and Nifty ended almost flat in highly volatile trade on Thursday amid the lack of any immediate trigger. The 30-share BSE Sensex dipped 5.43 points or 0.01 per cent to settle at 66,017.81. During the day, it hit a high of 66,235.24 and a low of 65,980.50.
Among the Sensex firms, JSW Steel, Tata Steel, Tech Mahindra, Infosys, Wipro, Tata Consultancy Services, Nestle, HCL Technologies, HDFC Bank and Maruti were the major laggards. IndusInd Bank, ITC, Bharti Airtel and State Bank of India were among the winners.
As a part of its Tox Tech campaign, Greenpeace in 2005 issued a list of demands on Wipro, including introduction of a take-back policy, recycling and a policy for phaseout of hazardous materials.
Offer of backdoor employment in various MNCs were made.
Infosys BPO Vice President Ramit Sethi has joined Wipro BPO as Senior Vice-President-Knowledge Services and Capital Markets.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
Targeted at the north and east of India apart from the big metros, WCCL aims to position the brand in the premium segment, but at a discounted price than the existing players. The company also expects to corner a 10 per cent market share in the glycerin soap market in the first year.
The deals -- worth $50-200 million (Rs 300-1,000 crore) -- are across the healthcare, travel, telecom and manufacturing verticals.
Wipro Infotech on Tuesday announced its partnership with Israel-based RiT Technologies for marketing of latter's Intelligent Physical Layer Management Solutions in the country.
Wipro Infotech, Middle East and Asia Pacific the information technology arm of Wipro Limited, announced on Thursday a strategic alliance with the US based Sistina Software Inc.
The Supreme Court on Friday stayed criminal proceedings against former chairman of Wipro, Azim Premji, and his wife on their plea seeking quashing of the summons issued by a Bengaluru trial court on a "frivolous"and "mischievous" complaint filed by an NGO alleging breach of trust and corruption in merger of three firms with a Premji group firm. A bench of Justices Sanjya Kishan Kaul, Dinesh Maheshwari and Hrishikesh Roy also issued notice to an NGO, Indian Awake for Transparency and others and sought their response. Senior advocates Mukul Rohatgi, A M Singhvi appearing for Premji and others said that the complaint was "mischievous" in nature.
A court in Kanpur has issued a notice to Wipro chairman Azim Premji after the wife of one of the company's employees alleged her husband had left her because the firm paid him a 'dating allowance.'
Among the Sensex firms, NTPC, Mahindra & Mahindra, Power Grid, Nestle, Tata Motors, ITC, Bharti Airtel and Kotak Mahindra Bank were the major gainers. In contrast, Larsen & Toubro, Wipro, JSW Steel, UltraTech Cement, and Asian Paints were among the laggards.
Neemuchwala will be a big asset when it comes to setting things right.
Software major Wipro Technologies and US-based HighJump Software announced a strategic alliance on Thursday to offer complete, integrated multi domain solutions in supply chain execution market worldwide.\n\n
Trading in the equity market this week will be highly influenced by a host of important triggers, with quarterly earnings from IT majors TCS, Wipro, and domestic inflation and IIP data taking the centre stage in dictating the movement in equities, analysts said. Besides, global factors and trading activity of foreign investors will also drive markets. "We are approaching the first quarter earnings season, with HCL Tech, TCS and Wipro set to report their earnings this week.
The company is unlikely to continue with the CEO-COO model
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