Bengaluru-headquartered Wipro has decided to elevate Chairman Azim Premji's elder son Rishad as the chief strategy officer (CSO) of its information technology (IT) business from January 1, 2011.
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.
Software major Wipro's chairman Rishad Premji on Thursday said social media platforms have integrated the world like never before and should be allowed to practice "responsive self-governance" to tackle the menace of hate and misinformation. Premji said technological developments on the digital and social media represent an incredibly powerful opportunity for betterment and the issues arising through its misuse need to be addressed immediately. "Technology, particularly digital and social media, have integrated the world as never before. "They've fostered human connections and solidarity across distances and barriers.
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.
It has replacements ready even for senior managers, in case someone quits.
Wipro Chairman and CEO Azim H Premji received the highest annual remuneration in the company for the fiscal 2006-07. Premji who also holds 79.58 per cent stake in the company, got an annual remuneration of $721,522.
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.
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.
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.
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.
Members of the CCC include world leaders in auto manufacturing, mobile communications and consumer electronics.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Rishad joined the company in June 2007.
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.
IT major Wipro has bagged a three-year "multi-million" Euro deal from Dutch pharma major Akzo Nobel for providing infrastructure management services.
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.
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.
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.
In a step towards complying with the new shareholding norms on promoter holdings, the Azim Premji Foundation said it would sell 35 million shares of Wipro through an auction route, opening on Wednesday.
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