Leading information technology company, Wipro has started looking at tapping the booming Chinese IT market, sources said on Friday.
India's information technology (IT) sector will witness subdued hiring in 2023-24 as macro uncertainties impact demand environment, with clients either taking a pause on spend or stopping discretionary spend, say human resource experts. To begin with, unlike earlier years, the three large IT players TCS, HCLTech, and Wipro have not provided any new hiring targets for the financial year. And Wipro has said that its hiring target will depend on the demand environment.
Wipro COO A L Rao tells Business Standard how he plans to keep driving innovation at Wipro.
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
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.
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.
From the Sensex basket, Tata Consultancy Services, Nestle, Bajaj Finserv, Wipro, Maruti Suzuki India, Reliance Industries, Larsen & Toubro and NTPC were the major laggards. Tata Steel, Bajaj Finance, JSW Steel and Bharti Airtel were among the gainers.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
Wipro may not see good growth in APAC regions in ensuing quarters.
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.
As a venture partner, DVP said that Neemuchwala would be bringing deep technology expertise and invaluable experience of building businesses.
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.
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.
Six years ago, the company discovered an incident of embezzlement of about $4 mn by an employee.
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.
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.
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.
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.
He is betting on emerging firms to generate ideas and build wealth through Premji Invest
IT majr Wipro needs stability at the top deck, say industry watchers.
Abid ali Neemuchwala's ambitious plans for Wipro.
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.
Wipro Ltd will be allotted 10-12 acres of land in Coimbatore for setting up a centre for its business process outsourcing division.
More and more women are making their presence felt in jobs related to sciences, technology, and engineering across organisations.
Among the Sensex firms, JSW Steel, Tata Motors, Tata Steel, Tata Consultancy Services, NTPC, Wipro, HCL Technologies, State Bank of India, Larsen & Toubro, UltraTech Cement, IndusInd Bank, Kotak Mahindra Bank, Power Grid and Reliance Industries Limited were the major laggards. Mahindra & Mahindra and Bajaj Finance were the gainers.
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.
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.
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.
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