Information technology (IT) companies have been on the road to revival in the past one year. From being the worst-hit sector in 2022 with a loss of 26 per cent, the Nifty IT index closed 2023 with gains of 24 per cent. So far in 2024, the index is up around 7 per cent against the nearly flat Nifty 50 benchmark index. The IT index has been on a continuous decline in the last three sessions.
Wipro said recently it was expecting its revenue growth to drop 2.33 per cent or stay flat between $2,015 and $2065 million.
Bhanumurthy B M, president and chief operating officer, Wipro, tells Ayan Pramanik and Raghu Krishnan that service delivery through digital technology-enabled platforms will change the business dynamics for the company.
T K has been an integral part of the organisation's leadership for years, says Azim Premji.
From the Sensex basket, Kotak Mahindra Bank, HCL Technologies, ICICI Bank, Infosys, Tata Consultancy Services, Wipro, Tech Mahindra and Larsen & Toubro were the major laggards. Mahindra & Mahindra, Nestle, Tata Motors and IndusInd Bank were among the gainers.
The Nifty IT index, data shows, has outperformed the markets in each of the last four election years post the result. announcement.
Six years ago, the company discovered an incident of embezzlement of about $4 mn by an employee.
IT major Wipro on Friday reported 9.75 per cent increase in consolidated net profit at Rs 1,284.9 crore for the second quarter ended September 30.
IT majr Wipro needs stability at the top deck, say industry watchers.
Software majors Infosys and Wipro, who are vying with each other for global information technology outsourcing contracts, have now joined hands to outsmart competitors and win domestic banking contracts.
Tata Consultancy Services topped the list of top 10 best performing IT service providers worldwide rated by Global Services, a specialised publication for IT businesses.
Abid ali Neemuchwala's ambitious plans for Wipro.
As a venture partner, DVP said that Neemuchwala would be bringing deep technology expertise and invaluable experience of building businesses.
Wipro Ltd will be allotted 10-12 acres of land in Coimbatore for setting up a centre for its business process outsourcing division.
He is betting on emerging firms to generate ideas and build wealth through Premji Invest
For the full 2016-17, Wipro's profit fell nearly 5 per cent to Rs 8,518 crore while total income grew 7.4 per cent to Rs 57,995 crore compared to the previous fiscal.
Tata Consultancy Services (TCS), India's largest IT services firm, is planning to increase salaries by an average of 7-8 per cent for its offsite employees and 2-4 per cent for its onsite staffers in 2024-25. High performers can expect a raise of 12-15 per cent. The company, which had a headcount of 603,305 as of December 31, 2023, will be closely looking at the promotions and the process may also get pushed to the first quarter of FY25, revealed a source on condition of anonymity, because he is not authorised to speak to the media.
That the flow of deals has resumed is evident from the third quarter Global TPI Index that tracks commercial contracts valued at $25 million or more.
Information Technology giant Wipro would start its research and development project in Goa and the state government has already earmarked a land for the project, Goa's Information and Technology Minister, Dayanand Narvekar said on Wednesday.
From the Sensex basket, Maruti, Mahindra & Mahindra, NTPC, JSW Steel, Larsen & Toubro, Reliance Industries, Axis Bank, and Power Grid were the major gainers. Nestle, Wipro, Tata Consultancy Services, HDFC Bank, Titan, HCL Technologies and Infosys were the laggards.
Wipro is trying to strengthen its presence in the banking, financial services and insurance (BFSI) segment by increasing its revenue share on par with other leading Indian information technology (IT) service companies.
Wipro has already bought a 40 acre plot of land in Greater Noida and is looking for an additional 100 acres.
A company with a size exceeding $1 billion finds it really hard to innovate.
Neemuchwala will be a big asset when it comes to setting things right.
These companies are also reinforcing their product line, changing product offerings, focusing on 'recession-proof' sectors like pharma and healthcare, education, telecom and utilities to tide over the dip in volumes.
The acquisition will be conducted through a tender for all the outstanding shares of Infocrossing, followed by a merger of Infocrossing with a Wipro subsidiary.
Bangalore-based software giant has teamed up with eminent cartoonist Mario Miranda to create an advertising campaign that will light up its recruitment brand. The Goa-based cartoonist will educate potential recruits about Wipro through his characters.
Wipro, has set up a venture capital (VC) fund that will look at investing in early-to-middle stage technology start-ups globally.
Total revenue rose to Rs 12,140 crore
One of the good things about our business is, if customers are under pressure and in a cost-cutting mode, we are able to provide more efficient solutions.
From the Sensex pack, HCL Technologies, Infosys, Wipro, Bharti Airtel, Larsen & Toubro, Mahindra & Mahindra, Tata Consultancy Services and Asian Paints were the major gainers. Axis Bank, IndusInd Bank, Bajaj Finance, JSW Steel, State Bank of India and Tata Steel were among the major laggards.
Among Sensex shares, HCLTech, Asian Paints, Maruti, JSW Steel, TCS, SBI, ITC and Bharti Airtel were the major losers. On the other hand, Bajaj Finserv, Mahindra & Mahindra, Titan, L&T and Wipro were the major gainers.
Among the Sensex firms, Larsen & Toubro, Tata Consultancy Services, Infosys, HCL Technologies, Hindustan Unilever, Axis Bank, ICICI Bank and Wipro were the major gainers. Nestle India, Asian Paints, JSW Steel, Kotak Mahindra Bank and HDFC Bank were among the losers.
Wipro, the country's third-largest information technology (IT) services company, is asking non-billable employees unwilling to work on any project they have been assigned to leave immediately.
Vivek Paul, chief executive officer of Wipro Technologies, California and Balaji Krishnamurthy, CEO of Planar Systems, Oregon have been named among 25 most "business influential" by Time magazine and CNN.
Leading technology solutions provider, HP today announced Wipro as its first Indian global system integration (GSI) partner.
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