Wipro has announced changes in the management structure of its IT business and expansion of its board. The firm appointed Girish Paranjpe, Suresh Senapaty and Suresh Vaswani to the Board of Wipro Ltd. Wipro also re-structured its IT business by appointing Girish Paranjpe and Suresh Vaswani as joint-CEOs. Paranjpe was the president of the banking, financial services & insurance business unit of the global IT business of Wipro. Suresh Vaswani was the president of Wipro Infotech
As Wipro enters the new financial year, fresh after the organisational restructuring, it has given a muted revenue guidance for the next quarter, which has not gone in well with the market.
Wipro Ltd Chairman Azim Premji on Friday said there are "absolutely no plans" to list Wipro Enterprises, the demerged non-IT businesses firm of the group, on stock exchanges.
The all-cash deal is expected to close in the March 2016 quarter.
"Our strategic investments, backed by strong client relationships and client spends towards enterprise modernisation and digital transformation have enabled us to deliver a very satisfying quarter," Wipro CEO and executive director Abidali Z Neemuchwala said.
After HCL Infosystems, another IT major Wipro has decided to shut down its manufacturing of computers and servers due to changing market scenario and consumer preferences.
Wipro's ServiceNXT Operations framework will be utilised to manage PMI's technology and applications infrastructure.
He is betting on emerging firms to generate ideas and build wealth through Premji Invest
Why the consumer care business is still important to IT major Wipro?
From the Sensex pack, Tata Steel, Titan, Tech Mahindra, Wipro, Bajaj Finserv, Bajaj Finance, Nestle India, Tata Motors and JSW Steel were the biggest laggards. ICICI Bank, Axis Bank, HDFC Bank, State Bank of India and Kotak Mahindra Bank were the gainers.
Maruti, Bajaj Finance, Titan, Kotak Mahindra Bank, HDFC Bank, IndusInd Bank, Mahindra & Mahindra and Larsen & Toubro were among the major gainers. Wipro, HCL Technologies, Nestle, Tata Consultancy Services and Tata Motors were among the laggards.
Benchmark equity indices Sensex and Nifty ended lower on Monday after hitting their all-time high levels in early trade amid selling in blue-chip IT stocks and HDFC Bank. After breaching the 77,000-mark during the early trade, the 30-share BSE Sensex came under selling pressure at the fag-end of the session and ended 203.28 points or 0.27 per cent lower at 76,490.08. During the day, the benchmark jumped 385.68 points or 0.50 per cent to hit a new record of 77,079.04.
Wipro Technologies, the global IT services division of Wipro Limited, signed a licensing and advanced development deal to jointly develop an advanced mobile and remote workforce management system.
From the Sensex basket, PowerGrid, Bharti Airtel, Wipro, HDFC Bank, Kotak Mahindra Bank, UltraTech Cement, Asian Paints, Infosys and Reliance Industries were the major laggards. Bajaj Finance, NTPC, Larsen & Toubro, Axis Bank, Tata Motors, IndusInd Bank and Bajaj Finserv were among the gainers.
From the Sensex firms, Power Grid, NTPC, Tech Mahindra, Bharti Airtel, Tata Motors, IndusInd Bank, Reliance Industries, Kotak Mahindra Bank and Maruti were among the laggards. Asian Paints, Wipro, JSW Steel, Hindustan Unilever, Bajaj Finserv and Mahindra & Mahindra were among the biggest gainers.
Six years ago, the company discovered an incident of embezzlement of about $4 mn by an employee.
Reliance Industries was the biggest gainer in the Sensex pack, rising 2.69 per cent, followed by HCL Tech, ICICI Bank, Tata Motors, Wipro, IndusInd Bank, JSW Steel, Wipro, Tata Consultancy Services and Titan. In contrast, NTPC, Power Grid, UltraTech Cement, Axis Bank, Infosys and Nestle were the major laggards.
Software services major Wipro, which recently hived off its non-IT business into a separate entity, is betting big on the energy vertical as more companies turn to technology-centric methods for exploration and production of natural resources.
The business environment is positive, with an uptick in demand, in both domestic and international markets.
It projected first-quarter revenue for its IT services business to be in a range of $1.58 billion to $1.61 billion - a decline of 0.6 per cent to a rise of 1.6 per cent over the previous quarter.
Software-to-soap maker Wipro Ltd plans to reduce its greenhouse gas footprint by half in the next five years. The Bangalore-based company with significant interests in IT, would reduce GHG intensity to 2.5 tonnes per employee by 2015, according to the company's second sustainability report released recently. The GHG footprint for the India operations of Wipro's IT business stands at 4.79 tonnes per employee.
An ostensible reason for the demerger was the low profitability of the non-IT business, which was a drag on Wipro's bottom line. It accounts for 14 per cent of the company's turnover but only 6 per cent of its operating profit.
Analysts believe that investors should look at stocks that hit 52-week lows only if they have a dividend paying track record, are debt-free and have sound fundamentals.
Wipro Technologies has entered into a strategic technology alliance with business intelligence software company SAS to provide a range of business intelligence applications using the SAS intelligence platform.
Wipro Ltd resolved to allot 2673 equity shares of Rs 2 each for exercise of stock option by eligible employees.
Wipro has announced changes in the management structure of its IT business and expansion of its board. The firm appointed Girish Paranjpe, Suresh Senapaty and Suresh Vaswani to the Board of Wipro Ltd. Wipro also re-structured its IT business by appointing Girish Paranjpe and Suresh Vaswani as joint-CEOs. Paranjpe was the president of the banking, financial services & insurance business unit of the global IT business of Wipro. Suresh Vaswani was the president of Wipro Infotech
From the Sensex basket, Infosys, IndusInd Bank, Bajaj Finserv, Wipro, HCL Technologies, Bajaj Finance, Tech Mahindra, Tata Consultancy Services, and Larsen & Toubro were the major laggards. Titan Company, Hindustan Unilever, HDFC Bank, Maruti, ITC, Power Grid and Reliance Industries were the gainers.
Wipro Ltd decoded to allot 3225 equity shares of Rs 2 each pursuant to exercise of stock options by eligible employees.
Diversified company Wipro on Tuesday said it has acquired premium personal care brand Yardley's businesses in the UK and other select European nations for an undisclosed amount.
The Chandigarh administration has approved the allotment of 30 acres of land to Wipro Technologies Limited in the second phase of the Rajiv Gandhi Chandigarh Technology Park.
From the Sensex basket, Larsen & Toubro, Bajaj Finance, Axis Bank, State Bank of India, UltraTech Cement, Wipro, ICICI Bank, Infosys, HCL Technologies and Asian Paints were the major gainers. NTPC, JSW Steel and HDFC Bank were the laggards.
The centre will have secured facilities, labs and infrastructure for customer projects and can grow to provide a capacity of 1000 seats, the company said.
Indian IT services provider Wipro said it is keen to expand its footprint in France as the country offers huge potential for growth and has stepped up its investment in the region.
Company identifies areas like cognitive technologies, artificial intelligence, man-machine interface, robotics
Software major Wipro's head of sales (America), Rich Garnick has resigned, the second such exit of a senior executive after the company's high-profile vice-chairman Vivek Paul left the firm a month ago.
Reliance Industries Limited is the country's most valued firm with a m-cap of Rs 9,17,953.13 crore followed by TCS Rs 8,04,980.33 crore.
T K has been an integral part of the organisation's leadership for years, says Azim Premji.
Among the Sensex firms, Wipro jumped over 6 per cent after the IT company's December quarter earnings beat estimates. The other prominent gainers were HCL Technologies, HDFC Bank, Infosys, Tech Mahindra, Bharti Airtel and Reliance Industries.
The heritage brand's journey from Bond Street to Sarjapur Road will give a facelift to Wipro's fast moving consumer goods portfolio.
Qatar's Doha Bank has said it is keen to engage Indian IT major Wipro to provide software solutions to improve its e-commerce and Small and Medium Enterprises (SME) systems, among others.
