Since a week ago, better-than-expected results from Infosys Limited, Tata Consultancy Services Limited and HCL Technologies Limited sparked a 13 per cent rally in the sector subindex that grinded to a halt on Friday.
Infrastructure major HCC's realty arm, Lavasa Corporation, that has floated a firm, MyCity Technology, in partnership with IT major Wipro, today tied-up with networking leader Cisco to provide Information and Communication Technology services in the newly-created Lavasa city.
Under the terms of the alliance, Wipro Technologies will work with Unisys to jointly provide deskside and hardware support services and multi-lingual service desk services for global customers.
With a Score of 95 on 100, Wipro is one of seven IT companies from across the world to find a place in the listing.
For the March 2017 quarter, Wipro expects revenues from IT services business to be in the range of $1,922 million to $1,941 million.
It has replacements ready even for senior managers, in case someone quits.
Among Sensex shares, HCLTech, Asian Paints, Maruti, JSW Steel, TCS, SBI, ITC and Bharti Airtel were the major losers. On the other hand, Bajaj Finserv, Mahindra & Mahindra, Titan, L&T and Wipro were the major gainers.
It is in these segments that the attrition rate is higher. Wipro witnessed an attrition rate of around 17 per cent in the last quarter. Even as the market awaits its results for the June quarter, the company is not willing to take any chance with its employees.
'The top five IT giants are not hiring, but most of the freshers want to start their careers with the top five IT firms.' 'In today's scenario this is a challenge.'
Among the Sensex firms, State Bank of India rose the most by 3.78 per cent after the bank announced the acquisition of SBI CAPS subsidiary for Rs 708.07 crore. Nestle India gained 1.68 per cent after it reported around 9 per cent growth in sales. JSW Steel, Bajaj Finance, Axis Bank and Asian Paints were among the gainers.
Wipro Infotech, the IT products and services division of Wipro, which was recently challenged by international non-profit organisation Greepeace, has finally come out with an e-waste disposal service. \n
On the prowl for more buyouts, software major Wipro would pursue the strategy of acquisitions more aggressively in future along with other initiatives.
Members of the CCC include world leaders in auto manufacturing, mobile communications and consumer electronics.
Country's third-largest software services firm Wipro has said it has been chosen as the official digital and IT partner for Chelsea Football Club.
Shares of IT services major Wipro on Monday surged nearly 8 per cent after the company reported an 8 per cent growth in consolidated net profit in the December quarter.
IT czar Azim Premji has given away almost half of his stakeholding in Wipro, India's third largest exporter of software services, to philanthropy.
The move, first announced in March 2014, is expected to generate net annualised cost savings of $175-200 million once fully implemented.
Investors' wealth eroded by Rs 6 lakh crore in a single day on Wednesday as the BSE benchmark Sensex tumbled over 790 points. The 30-share BSE Sensex fell by 790.34 points or 1.08 per cent to settle at 72,304.88. During the day, it slumped 872.93 points or 1.19 per cent to 72,222.29.
M&M was the biggest gainer in the Sensex chart, rising 6.51 per cent, followed by NTPC, PowerGrid, SBI, HDFC Bank, Asian Paints and Wipro. In contrast, Axis Bank, ITC, HUL, Nestle India and Sun Pharma were among the laggards.
The country's third largest software exporter, Wipro Technologies, on Tuesday said it is looking for an acquisition in the BPO space, which is likely to be the next engine of growth for the IT industry.
Technology market research firm Tech Market View said the contract, which is one of Wipro's largest deals group-wide, signals the growing influence of offshore-centric IT-BPO players in large scale UK outsourcing market.
Wipro, which gets bulk of its topline from IT services, said it expects revenues from that business to be in the range of $1,962-2,001 million in the September quarter.
The outsourcer said it is supposed to get $8 million from the US firm. Wipro further added that it is in constant talks with the firm to monitor and assess the situation.
Wipro is planning to expand into Sri Lanka and Bangladesh to tap the telecom and banking space, by leveraging on its expertise and strengths in areas such as system integration and IT managed services.
Wipro Infotech on Tuesday launched a new wireless notebook, LittleGenius CP, for better mobile computing, featuring Intel Pentium M processor based on 90 nm manufacturing technology.
IT major Wipro has bagged a three-year "multi-million" Euro deal from Dutch pharma major Akzo Nobel for providing infrastructure management services.
Benchmark equity indices ended marginally higher on Thursday, trimming most of their intra-day gains, as investors turned cautious ahead of the quarterly results of IT behemoths TCS and Infosys later in the day. Announcement of the US inflation data and domestic macroeconomic numbers also forced investors to remain on the sidelines. The 30-share BSE Sensex climbed 63.47 points or 0.09 per cent to settle at 71,721.18.
India's third-largest IT services firm, Wipro Ltd, has acquired the enterprise mobile TV unit owned by Finland-based leading mobile phone manufacturer Nokia for an undisclosed sum.
Among the Sensex firms, Bajaj Finance, Mahindra & Mahindra, UltraTech Cement, Bajaj Finserv, Asian Paints, Hindustan Unilever, Tata Motors and JSW Steel were the major laggards.
The Odisha govt is annoyed with Wipro's lackadaisical attitude.
The new unlisted firm will include Wipro Consumer Care & Lighting (including furniture business), Wipro Infrastructure Engineering (hydraulics and water businesses) and Medical Diagnostic Product & Services business, Wipro said in a filing to the Bombay Stock Exchange.
In the Sensex pack, 20 stocks ended in the red while 37 of the Nifty constituents closed the session with losses. NTPC was the biggest loser among the Sensex constituents, ending with a loss of 2.71 per cent.
The contract, which involves upgrade of LIC's front-end IT application programmes to make these accessible through the web, is said to be worth about Rs 200 crore, and will be done over five years. It is understood that most large Indian IT outsourcing companies, including TCS, Infosys and L&T Infotech, had competed for the contract. It was considered prestigious, not because of its size but because it involved a prestigious public sector organisation like LIC.
"We see that as a next emerging opportunity. We are positioning ourselves very strongly," Wipro chairman Azim Premji told reporters in Bangalore. He noted the IT sector, whose size was small 20 years ago, had grown substantially and constituted some 27 per cent of the country's exports and some 4-5 per cent of its GDP, indicating that green technologies holds similar business potential.
Wipro Technologies, the country's third largest software services exporter, today said the company might go slow on its campus-hiring plans till demand picks up.
Rishad joined the company in June 2007.
