Among the Sensex firms, Wipro, HCL Technologies, NTPC, Reliance Industries, Infosys, IndusInd Bank, Tech Mahindra and Tata Consultancy Services were the major laggards. IT stocks fell on profit-taking after rallying sharply in the past two sessions. Tata Steel, Titan, Maruti, Larsen & Toubro, ITC and JSW Steel were among the gainers.
Wipro Ltd, the country's third biggest software services firm, on Thursday said it was looking for acquisitions in Germany and Canada to take advantage of the growing markets there.
According to analysts, the first two quarters are usually dull for the company historically, hence growth will be higher in the subsequent two quarters. If Wipro Infotech achieves the $1 billion mark, it would make Wipro the first Indian company to touch the figure through its largely domestic market-focussed arm. It derives about 90 per cent of its revenue from India.
Wipro Technologies, the global IT services division of Wipro, on Tuesday announced an investment of Rs 375 crore (Rs 3.75 billion) in Pune after the inauguration of its new development centre in Hinjewadi.
Wipro is planning to integrate all its quality achievements under the 'Wipro Way' -- a system that was envisaged by founder chairman Azim Premji about nine months back. This will help the company take all its quality initiatives to the next level.
The division, which has been revamped over the past two years -- slowly weaning away from being a voice-heavy BPO provider -- has only added around 500 people while growing its top line by 50 per cent in this period.
Wipro has already screened hundreds of applicants through video kiosks it has set up at three of its campuses - two in Bangalore and one in Chennai. The company shortly plans to extend this concept, and install over 1,000 video phones at all its 20-odd campuses across the country. Each campus accommodates over 2,000 people.
Among the Sensex firms, Nestle rose the most by 4.66 per cent. NTPC rose by 2.16 per cent, Reliance Industries by 1.53 per cent, State Bank of India by 1.04 per cent and Hindustan Unilever by 1.03 per cent. ITC, Power Grid and Bajaj Finance were the major gainers. Wipro, Tata Consultancy Services, HCL Technologies, Tata Steel, Bajaj Finserv and Maruti were among the laggards.
This will be the company's first major expansion in the switching business after the acquisition of the North West Switches brand for Rs 102 crore (Rs 1.02 billion) in May last year. The plant will be located at Haridwar, Uttaranchal, where the company has acquired about six acres for the purpose. A significant part of the Rs 60 crore (Rs 600 million) capital expenditure earmarked for this fiscal will be spent on setting up the plant, Vineet Agrawal, president, said.
Wipro's numbers for Q3 came as a disappointment to the market and early trades on Friday reflected this, the scrip shedding 4% to Rs 1,516.
Wipro chairman Azim Premzi' son will soon join the country's third largest software exporter.
IT major Wipro and Motorola Inc will jointly invest about $ 20 million (Rs 92 crore) over the next three years in their newly formed joint venture for outsourced telecom services.
Wipro BPO, the business process outsourcing division of global IT services provider Wipro Technologies, would add about 1,000 people at its Hyderabad centre in six to eight months.
HCL Technologies was the biggest gainer in the Sensex pack, rising 5.58 per cent, followed by Tata Consultancy Services and Infosys, State Bank of India, Tech Mahindra, Tata Steel, NTPC and Wipro. In contrast, Nestle, Bharti Airtel, Maruti and ITC were among the laggards.
Incumbent DMK MP T Sumathy alias Tamizhachi Thangapandian will face-off former Telangana Governor and BJP leader Tamilisai Soundararajan, while the the AIADMK has fielded ex-MP Dr J Jayavardhan, who won from here in 2014.
"Our strategy is to recruit non-engineering graduates, in addition to engineering and make them fit into the slot. We are still working out the details," Wipro Technologies joint CEO Girish Paranjpe said.
Leading technology solutions provider, HP today announced Wipro as its first Indian global system integration (GSI) partner.
This will also apply to those working temporarily on onsite projects.
IT major Wipro on Monday said it has been ranked as a leader in the global R&D service provider survey by Zinnov Management Consulting for the fourth successive year.
We saw the highest growth coming in from BFSI (banking, financial services and insurance) last quarter than any of our competitors. It has grown very well. But the others have also now stepped up their focus on BFSI.
The accused were identified as Rajiv Ranjan, 30, native of Bihar, Mohammed Azar, 25, native of Andhra Pradesh, Sathya Priya, 25, native of Tamil Nadu, and M N Naryanana, 29, from Kerala, according to Bengaluru Police Commissioner B G Jyothiprakash Mirji.
Software services giant Wipro Ltd is likely to lose business from its big client 186k, a former broadband telecoms unit of Lattice Plc which merged with National Grid Transco, vice-chairman Vivek Paul said.
Wipro, India's major IT company, has awarded a grant of $1.19 million to promote science and teacher education leadership in the US.
Wipro announced a 100 per cent interim dividend (Rs 5 per equity share of face value Rs 5) for the year ending March 31, 2007.
For IT services companies, ESG (environmental, social, and corporate governance) metrics are becoming a crucial component in winning deals as clients are considering sustainability a top priority and are keen to work with partners who are on the same page. "Sustainability is becoming an important part of the client's evaluation. "There is a tremendous focus across the world on sustainability, and it is becoming one of the top five business priorities.
Wipro COO A L Rao tells Business Standard how he plans to keep driving innovation at Wipro.
Among Indian IT outsourcing companies, Wipro is the first company to give a flat to 2 per cent growth expectation for the July-September 2009 (third) quarter. Joint CEOs Girish Paranjpe and Suresh Vaswani spoke to Bibhu Ranjan Mishra on the company's growth path.
Wipro Limited Profit After Tax grew by 45% year on year (yoy) to Rs. 6.20 billion (Rs. 620 Crores), Total Revenue increased by 39% yoy to Rs. 31.43 billion (Rs. 3,143 Crores)
Wipro consolidated net profit up 20 per cent at Rs 1,932.1 crore in July-September quarter from Rs 1,610.6 crore a year ago.
Wipro Ltd, a relatively late entrant in the lucrative information technology outsourcing market in Australia, is planning to hire more locals.
If I focus on today, I will have to give up the future, says T K Kurien.
Global financial services giant Citigroup Inc on Tuesday sold its 100 per cent subsidiary Citi Technology Services Ltd to Wipro for $127 million. CTS is an India-based captive provider of information technology services and solutions to Citi entities worldwide.
The Maharashtra Food and Drug Adminstration has served a notice to Wipro for allegedly "misbranding and mislabelling" its baby oil.
The move comes at a time when the company is looking to strengthen its position in soaps.
Wipro, the Bangalore-based business conglomerate with interests in IT and FMCG, said it has succeeded in "convincing" one of its recently-won international clients, Australia's Origin Energy, about the circumstances under which the World Bank had imposed a ban on the company
Wipro Ltd has informed BSE that the Board of Directors of the company vide the circular resolution effective February 13, 2003 resolved to issue and allot 2945 equity shares of Rs 2 each pursuant to exercise of stock options by eligible employees.
