Top Indian IT companies such as Infosys, TCS and Wipro, which are mainly into software services business, could be toppled by lesser known firms in the outsourced (software) product development business in the coming years, according to industry offi
Certain changes in the past two or three years could have a long-term structural impact on the IT services market.
It is understood that the company is hiring more local people in overseas markets for front-end sales and support roles. It is having more locals as client managers in key areas like the US and Europe.
Among the Sensex shares, Infosys rose the most by 1.37 per cent, followed by Larsen & Toubro (0.90 per cent), and Wipro (0.83 per cent). HDFC Bank, ICICI Bank, Reliance Industries, ITC, TCS, Kotak Bank, Asian Paints and Titan were among the lead gainers.
Brazil's alternative energy company, Cemig, tops the list of Environmental Tracking (ET) BRICS 300 Carbon Ranking.
With the economic downturn continuing in western markets, India's third largest software exporter Wipro is seeing opportunities in the domestic market in a big way.
The joint venture firm will be fully operational by the end of August this year.
This centre will cater to the infrastructure and application management service requirements of customers across the ASEAN region through a remote service delivery model.
Also, dedicated resources for top 60 clients, in a set of moves to encourage growth.
Among major Sensex movers, ITC rose the most by 1.70 per cent, Wipro by 1.43 per cent, Tech Mahindra by 1.36 per cent and Nestle India by 1.27 per cent. Other gainers included HCL Tech, Asian Paints and Reliance. On the other hand, ICICI Bank, NTPC, UltraTech Cement and Tata Steel traded with a loss of up to 0.82 per cent.
As Japan makes frantic efforts to deal with the nuclear radiation leaks from the Fukushima Daiichi nuclear power plant in the aftermath of earthquake and tsunami, Indian information technology firms have begun relocating the families of their Indian employees in the country.
Executive director and chief financial officer of Wipro Suresh C Senapaty has sold 85,000 shares of the company.
Wipro Technologies on Tuesday said the company would have to wait at least three quarters to reap benefits from realigning the organisational structure.
Wipro has devised a strategy to beat larger rivals.
Currently TTD offers four main e-services such as e-seva, e-accommodation, e-sudarshanam and e-hundi to the devotees and the Sri Seva project would help the administration in offering services like providing rooms, laddus as well as in tonsuring.
T K Kurien, CEO, IT business of Wipro, throws light on the company's strengths of weaknesses and its strategy.
According to a PTI report, in the latest '2012 Global Outsourcing 100', compiled by the International Association of Outsourcing Professionals, three Indian firms have found a place in the top 10, with Accenture heading the list.
As much as Rs 47,810 crore was spent on share buybacks by 48 companies in 2023 -- the highest amount since 2017. This surge in value was largely driven by a few large-sized issues, including those by Tata Consultancy Services (Rs 17,000 crore), Larsen & Toubro (Rs 10,000 crore), and Wipro (Rs 12,000 crore). In 2022, 58 companies had repurchased shares worth Rs 38,305 crore, according to data from Prime Database.
From the Sensex pack, Jio Financial Services fell the most by 4.99 per cent. Reliance Industries, Power Grid, Larsen & Toubro, JSW Steel, HCL Technologies, NTPC, Tata Steel, Wipro, Tata Consultancy Services and HDFC Bank also declined. IndusInd Bank, Infosys, UltraTech Cement, ICICI Bank, Nestle and Axis Bank were among the gainers.
In the financial year 2007-08, Premji received a whopping $328,556 towards his annual compensation package. This included $107,701 as salary and allowances, $127,621 towards compensation and incentives, $35,298 for housing and $41,895 towards the long-term compensation, the company told the Securities and Exchange Commission in its annual filing.
The company had posted a net profit of Rs 1,334.9 crore (Rs 13.34 billion) in the April-June quarter of last fiscal, Wipro said in a filing to the Bombay Stock Exchange.
Both companies are in talks with a Bengaluru-based non-governmental organisation, International Competence Centre for Organic Agriculture, for the supply of organically-grown vegetables to their canteens.
Wipro Limited, the $5 billion software to soaps major, has reported a 25 per cent increase in its net profit for the first quarter of the current fiscal as against the corresponding period of last fiscal. The topline has increased by 43 per cent.The net profit has smarted up to Rs 908 crore (Rs 9.08 billion)for the first quarter, while the topline has moved to Rs 5,967 crore (Rs 59.67 billion).
Many analysts say the management structure was faulty, as the model can work at best as a stop-gap arrangement.
Wipro Ltd, India's third-largest software exporter, said on Friday its back office services firm, Spectramind, was on track to meet its revenue target of $12.5 million for the quarter ending December.
'It is a sign of a bigger problem which is coming in the next six months.'
Which entrepreneur would willingly part with her or his hard-earned money for grasping, self-serving politicians? asks Debashis Basu.
Mamata Banerjee government was principally opposed to granting SEZ status to any such units willing to come to the state
Wipro Ltd has informed BSE that the board of directors vide the circular resolution effective January 13 resolved to issue and allot 4870 equity shares of Rs 2 each pursuant to exercise of stock options by eligible employees.\n\n\n\n
Indian IT companies TCS, Infosys, Wipro and HCL Technologies have issued advisories to their employees working in US, whose East Coast is battered by a superstorm.
IT solutions and services provider Wipro is looking at acquiring companies worth over $100 million each to fill various technology gaps and expand to newer geographies.
