Wipro Ltd on Saturday said it will fully acquire LD Waxsons Group, a Singapore-based fast moving consumer goods (FMCG) company for an all cash consideration of about $144 million (nearly Rs 790 crore).
IT services firm Infosys on Thursday reported an 11 per cent rise in consolidated net profit in June quarter at Rs 5,945 crore, but lowered full year growth outlook to 1-3.5 per cent amid macro uncertainties. The net profit (before minority interest) during the same period previous year stood at Rs 5,362 crore.
The government on Monday approved the proposals of Reliance Industries, Wipro, Hewlett Packard and Biocon to set up Special Economic Zones -- a move that is expected to generate at least 67,000 jobs by March 2006.
Concerns have been raised over rising unemployment in the US and Obama's visit to India was expected to see issues around outsourcing being discussed.
The awards were given by the UN's body on women for their work on principles of women's empowerment and helping champion gender equality.
The announcement coincides with the visit of Mexican President Felipe Caldern Hinojosa to Bangalore as part of his official four-day India tour.
Housing Development Finance Corporation has divested its entire stake in the Bermuda-based Spectramind for Rs 26.4 crore to Wipro.
Analysts expect Wipro's revenue to grow 17 per cent this financial year, largely in line with its FY12 performance. Profits are expected to grow 14 per cent, compared to FY12.
The decision regarding this was taken by the Board of Approval in its meeting on September 18.
Ironically, the Bangalore-based company had established itself as a major Information Technology powerhouse leveraging India's low-cost high-skilled manpower.
The company had a net profit of Rs 1,318.8 crore (Rs 13.18 billion) in the corresponding quarter of the previous fiscal, Wipro said in a filing to the BSE.
The scope of services includes the suite of IT infrastructure and applications across the enterprise.
Commercial vehicle manufacturer Eicher Motors said on Monday it had tied-up with Wipro Infrastructure Engineering to source hydraulic tipping kits for its new range of tippers.
Wipro's IT Business crosses $3 billion in FY 06-07;
Aim is to drive accountability and bring the organisation closer to the client.
T K Kurien talks on the outlook for the next year, the slow growth in the retail vertical and initiatives to introduce automation.
So far, all three have launched their own initiatives to train teachers and students in information technology. While Infosys BPO has Project Genesis to train faculty, which in turn teaches students, Wipro recently launched a similar programme called Mission 10x.
This is evident in the firm's client addition and mining abilities, and also in its ability to stabilise employee attrition.
"Outlook for wages and salaries... given the current scenario, we have no plans for increase in the course of the year," the Bangalore-headquartered, New York Stock Exchange-listed company's executive vice-president, Pratik Kumar said. On campus hiring in the current fiscal, he said the company would visit the colleges (only) in January-March (unlike previous years when they selected students a year before they got the degree) but gave no firm numbers.
'Jobs openings are scarce, but these companies are either hiring or laying off relatively few workers,' Forbes said. The magazine noted that technology and service firms dominate the 'list of job creators.' These firms are among the world's 2000 biggest companies compiled by Forbes and the league is topped by American industrial conglomerate General Electric. It also includes 47 Indian entities.
Software major Wipro on Friday posted a net profit of Rs 411.70 crore (Rs 4.117 billion) for the second quarter ending September 30, up by 79 per cent over Rs 230.20 crore (Rs 2.302 billion) reported during the same period last year.
Wipro Infotech, the India and West Asian IT business of Wipro, aims to use its data centre platform to offer a host of services, including cloud computing and software as a service (SaaS) on a pay-per-use model, Anand Sankaran, senior vice-president told Business Standard.
As a venture partner, DVP said that Neemuchwala would be bringing deep technology expertise and invaluable experience of building businesses.
Wipro on Friday said it has employed 30 cost-cutting measures, especially in the area of operational efficiency, to tackle the current downturn.
Dalal Street investors became richer by Rs 9.68 lakh crore in five days of market rally, where the Sensex breached the historic 73,000-mark for the first time ever to reach a new record peak, taking the market capitalisation of BSE-listed companies to an all-time high of Rs 376 lakh crore. The 30-share BSE Sensex jumped 759.49 points or 1.05 per cent to settle at a new closing high of 73,327.94 on Monday. During the day, it zoomed 833.71 points or 1.14 per cent to reach its all-time peak of 73,402.16.
Azim Premji, chairman of Wipro, met the chief minister and formally accepted the plot offered in New Town Rajarhat, on the north-eastern fringes of this city.
Wipro has a good brand because of the trust and quality it enjoys globally.
IT major Wipro understands clearly the difference between a bribe and 'facilitating payment' and is not averse to giving gifts "in the normal course of business" provided that these do not exceed $50.
ICICI Infotech outsmarted Tata Consultancy Services and Wipro to get the mandate from states for setting up a national tax information exchange system (Tinxsys) to track inter-state transactions and check tax evasion.
In a communique on the National Stock Exchange, Wipro said an agreement had been signed for the buyout which was expected to be completed by Q3 of FY 2006-07.\n\n
