'We are looking at the next target which is to be a $1 billion ARR firm in the next 4-5 years.'
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.
Wipro Infotech on Thursday launched a new SuperGenius range of desktops based on Intel Pentium 4 processor with Hyper-Threading on high-volume 90-Nanometer manufacturing technology.
Wipro Technologies has entered into a strategic alliance with Magnasoft to provide global information system (GIS)-based fleet management solutions for the transportation sector.
Scam-hit Satyam seems to be losing its status as a noteworthy rival for the top Indian IT firms, as Wipro has become the second major player in this space after Infosys to drop its name from the list of competitors.
Subject to customary regulatory approvals, the acquisition is expected to be completed during the quarter, the Bengaluru-headquartered company said. Financial details of the transaction were not disclosed.
In a massive top-level reshuffle last week, Wipro, India's third-largest IT services firm, announced the exit of Anand Sankaran who was handling a major chunk of the company's overall business.
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.
The Bangaluru-based firm has forecast third quarter revenue from its IT services unit in the range of $1.5-1.53 billion.
Wipro will be implementing the core banking solution for Paytm.
Wipro, the $5 billion company with interests in IT services, consumer care, lighting and furniture, is entering a new set of businesses which will enable the company to leverage its growth on the clean energy and agriculture sectors. The company is readying a plan to include alternate energy, water treatment, food and agriculture businesses under its infrastructure business - Wipro Infrastructure Engineering Limited.
Infosys has received a tax demand of Rs 341 crore for assessment year 2020-21 from the Income Tax Department, the IT services company said on Monday adding it is evaluating filing an appeal against the said order. The Bengaluru-headquartered company said it is in the process of evaluating the impact of the order on its financial statements for the quarter and year ending March 31, 2024. Infosys also said it is evaluating filing an appeal against this order.
IT major HCL Technologies' Shiv Nadar has retained his position as the 'most generous Indian' in 2023 as well, with a 76 per cent jump in his donations at Rs 2,042 crore. Wipro's Azim Premji's donations zoomed by 267 per cent to Rs 1,774 crore during the same year, according to the Edelgive Hurun India Philanthropy List 2023 released on Thursday. Richest Indian Mukesh Ambani donated Rs 376 crore in the year, which is an 8 per cent decline.
An Indian woman employee at the London office of IT major Wipro has filed a 1 million pounds compensation case of sexual discrimination.
Cognizant derived 41 per cent of its revenues from financial services.
Wipro Technologies, the IT services division of Wipro Ltd, said on Wednesday that it has become the first company outside the US to be conferred with Software Process Achievement
Wipro and Tata Power are among the world's most ethical companies, according to American think tank Ethisphere Institute.
Sensing potential in the remote infrastructure outsourcing market, Wipro Technologies is investing heavily in the business and will soon open a centralised global command centre in Bangalore.
Ashutosh Vaidya, head, Wipro BPO Solutions, and Deepak Jain, head, Technology Infrastructure Services, have put in their papers, said the sources. The reasons for the resignations could not be confirmed.
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.
Revamp zeroes on consumer brands facing stiff competition, slower growth.
Wipro has been quite aggressive among Indian IT services companies in acquisitions as a strategy to buy the capabilities in emerging technologies.
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.
Among the Sensex firms, Tech Mahindra, Tata Motors, Infosys, Wipro, Tata Steel, Tata Consultancy Services, Reliance Industries and Axis Bank were the major gainers. Bajaj Finance, IndusInd Bank and Power Grid were the laggards.
Wipro Ltd named T K Kurien president of Wipro HealthScience. Kurien will report into Vivek Paul, vice chairman.
The company has also expanded its SAP services in the utilities industry, supply chain management and customer relationship management domain.
Banerjee was one of the people instrumental in shaping the future of Wipro's IT business in its early days.
Wipro Ltd on Wednesday clarified that company Chairman Azim Premji had stated in Mumbai that the IT major would consider accessing the capital markets only if the need for funding large acquisitions arose.\n\n\n\n
In the Sensex pack, HCLTech rose the maximum by 3.12 per cent, followed by ITC which gained 2.73 per cent and M&M went up 2.61 per cent. TCS climbed 2.44 per cent. Tech Mahindra, Wipro, L&T and Maruti were among the other major gainers.
A chess buff, Neemuchwala enjoys volunteering, travelling, Indian music, reading fiction, and golf.
According to the 18th version of Greenpeace's Guide to Greener Electronics, Wipro has topped the list of 16 electronic companies across the world based on their commitment and progress in three environment criteria: energy and climate, greener products and sustainable operations.
Wipro is poised for double-digit growth in the coming years as the US market is recovering and consumer spending improving, Chairman Azim Premji said.
"Three-five years is the ideal time frame for a CEO to continue in the same position in a company," says Girish Paranjpe.
Plans to enter the Southeast Asian market through acquisition.
No financial details of the deal were disclosed.
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