Rishad joined the company in June 2007.
What is not so well-known, possibly because of the scale and size of its information technology business, is that Wipro is the third-largest Indian-owned fast-moving consumer goods company after Nirma and Dabur -- Wipro Consumer Care and Lighting, the FMCG and lighting products arm of the company, will likely end 2009-10 with sales revenue of Rs 2,500 crore (Rs 25 billion).
Company aims to cross $1 billion in revenue for its BPO business.
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.
As the job markets open up, top IT services firms may look at a tiered strategy in which they hire entry-level talents at higher salaries, amid a major technological shift, say HR analysts.
The second campus would have the potential to create around 18,000 jobs
The proposed information technology (IT) projects of Wipro Technologies, Mumbai-based Raheja Corporation and the Kolkata-based Apeejay Surrendra Group in Orissa, which had suffered delay on account of the prevailing economic downturn, are expected to make headway within two to three months.
Wipro is using this in-house innovation to automate internal functions such as helpdesk management
The Tata Group is one of the very few Indian MNCs which has carved out a niche in China's highly competitive market, notes Rup Narayan Das.
Wipro, India's third largest information technology (IT) services company, is expected to continue with its strong show during the October-December quarter of financial year 2014.
From the Sensex basket, Infosys, IndusInd Bank, Bajaj Finserv, Wipro, HCL Technologies, Bajaj Finance, Tech Mahindra, Tata Consultancy Services, and Larsen & Toubro were the major laggards. Titan Company, Hindustan Unilever, HDFC Bank, Maruti, ITC, Power Grid and Reliance Industries were the gainers.
It had reorganised its India business by carving out public sector undertaking and government businesses. Besides the company had also split its India and West Asia businesses.
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.
A chess buff, Neemuchwala enjoys volunteering, travelling, Indian music, reading fiction, and golf.
No financial details of the deal were disclosed.
The move, first announced in March 2014, is expected to generate net annualised cost savings of $175-200 million once fully implemented.
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.
From the Sensex basket, Larsen & Toubro, Bajaj Finance, Axis Bank, State Bank of India, UltraTech Cement, Wipro, ICICI Bank, Infosys, HCL Technologies and Asian Paints were the major gainers. NTPC, JSW Steel and HDFC Bank were the laggards.
Wipro's clients currently include over 100 US payers, healthcare providers, and public health agencies.
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.
From the Sensex basket, Sun Pharma, Maruti, IndusInd Bank, Titan, ITC, Tata Motors, Larsen & Toubro and JSW Steel were the major gainers. On the other hand, Infosys, Wipro, HCL Technologies, Tata Consultancy Services, Tech Mahindra and Bajaj Finserv were among the laggards.
Software services major Wipro on Wednesday said its BPO has been rated among the top global Finance and Accounting (F&A) service providers by analyst firm HfS Research.
Leading information technology company, Wipro has started looking at tapping the booming Chinese IT market, sources said on Friday.
In a top level reshuffle, software services major Wipro on Thursday appointed Soumitro Ghosh as head of Wipro Infotech replacing Senior VP and Business Head of Global Infrastructure Services Anand Sankaran, who quit the company hours before the rejig was announced.
Benchmark equity indices Sensex and Nifty ended lower on Monday after hitting their all-time high levels in early trade amid selling in blue-chip IT stocks and HDFC Bank. After breaching the 77,000-mark during the early trade, the 30-share BSE Sensex came under selling pressure at the fag-end of the session and ended 203.28 points or 0.27 per cent lower at 76,490.08. During the day, the benchmark jumped 385.68 points or 0.50 per cent to hit a new record of 77,079.04.
Wipro has been quite aggressive among Indian IT services companies in acquisitions as a strategy to buy the capabilities in emerging technologies.
Software major Wipro's IT enabled services business subsidiary Spectramind has bagged a Business Process Outsourcing order from global giant Microsoft, a top company official said
Wipro COO A L Rao tells Business Standard how he plans to keep driving innovation at Wipro.
The Citi deal should help Wipro beef up its presence in the banking and financial services (BFSI) space. The target company does work in the technology infrastructure services space as also application development and maintenance and the Rs 19,957 crore (Rs 199.57 billion) Wipro should be able to leverage these services with other clients. The assured revenues of $500 million will come in handy at a difficult time.
Benchmark BSE Sensex rebounded sharply by 941 points while NSE Nifty closed above the 22,600 level on Monday on the back of buying in banking and infra shares and a global stocks rally. The 30-share BSE Sensex jumped 941.12 points or 1.28 per cent to settle at 74,671.28. During the day, it zoomed 990.99 points or 1.34 per cent to 74,721.15.
Wipro is trying to strengthen its presence in the banking, financial services and insurance segment by increasing its revenue share on par with other leading Indian information technology service companies.
Wipro Infotech on Tuesday announced its partnership with Israel-based RiT Technologies for marketing of latter's Intelligent Physical Layer Management Solutions in the country.
Wipro Infotech, Middle East and Asia Pacific the information technology arm of Wipro Limited, announced on Thursday a strategic alliance with the US based Sistina Software Inc.
Wipro may not see good growth in APAC regions in ensuing quarters.
From the Sensex basket, Bajaj Finance, Mahindra & Mahindra, HDFC Bank, JSW Steel, Maruti, Wipro, Bharti Airtel, Bajaj Finserv, ICICI Bank and ITC were the major gainers. Nestle India, HCL Technologies, Larsen & Toubro, Tata Consultancy Services, Tata Motors and Infosys were among the laggards.
The other prominent gainers were Tech Mahindra, HCL Technologies, Wipro, State Bank of India and Larsen & Toubro. Bajaj Finserv, Power Grid, UltraTech Cement and HDFC Bank were among the laggards.
