Wipro is planning to recruit 9,000 infotech professionals this year to meet manpower needs of its computer software services and business process outsourcing activities.\n\n\n\n
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.
India's leading software company, Wipro Limited, on Wednesday said it was looking at setting up an offshore business process outsourcing centre in one of the Asia-Pacific countries.
T K Kurien believes the company is on the right track.
Domestic IT company Wipro Technologies and global networking company Cisco are eyeing $1 billion revenue from their strategic alliance for developing and delivering IT services solutions in the global market. The partnership aims at $1 billion revenue over the next three years, said John Chambers, chairman and CEO of the $35 billion California-based company
According to the tender offer, about 20.456,524 shares - representing about 100 per cent of issued and outstanding shares of Infocrossing -were validly offered and subsequently acquired by Wipro when the offer expired on September 17.
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.
'IT companies do not have a large presence there either in terms of market and team. So, the impact of the war will be minimal. But West Asia is an emerging economy.'
In an effort to slash hiring and increase efficiency, Wipro Technologies, one of the leading IT companies in the country, is training its employees to turn into a multi-skilled workforce.
A company with a size exceeding $1 billion finds it really hard to innovate.
'Today's engineering graduates have to learn the skills to solve problems which is actually a higher order skill.'
Wipro, has set up a venture capital (VC) fund that will look at investing in early-to-middle stage technology start-ups globally.
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.
Wipro Ltd, the country's third biggest software services firm, on Thursday said it was looking for acquisitions in Germany and Canada to take advantage of the growing markets there.
According to analysts, the first two quarters are usually dull for the company historically, hence growth will be higher in the subsequent two quarters. If Wipro Infotech achieves the $1 billion mark, it would make Wipro the first Indian company to touch the figure through its largely domestic market-focussed arm. It derives about 90 per cent of its revenue from India.
Wipro Technologies, the global IT services division of Wipro, on Tuesday announced an investment of Rs 375 crore (Rs 3.75 billion) in Pune after the inauguration of its new development centre in Hinjewadi.
Wipro is planning to integrate all its quality achievements under the 'Wipro Way' -- a system that was envisaged by founder chairman Azim Premji about nine months back. This will help the company take all its quality initiatives to the next level.
The division, which has been revamped over the past two years -- slowly weaning away from being a voice-heavy BPO provider -- has only added around 500 people while growing its top line by 50 per cent in this period.
Wipro has already screened hundreds of applicants through video kiosks it has set up at three of its campuses - two in Bangalore and one in Chennai. The company shortly plans to extend this concept, and install over 1,000 video phones at all its 20-odd campuses across the country. Each campus accommodates over 2,000 people.
This will be the company's first major expansion in the switching business after the acquisition of the North West Switches brand for Rs 102 crore (Rs 1.02 billion) in May last year. The plant will be located at Haridwar, Uttaranchal, where the company has acquired about six acres for the purpose. A significant part of the Rs 60 crore (Rs 600 million) capital expenditure earmarked for this fiscal will be spent on setting up the plant, Vineet Agrawal, president, said.
Wipro's numbers for Q3 came as a disappointment to the market and early trades on Friday reflected this, the scrip shedding 4% to Rs 1,516.
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.
Wipro chairman Azim Premzi' son will soon join the country's third largest software exporter.
IT major Wipro and Motorola Inc will jointly invest about $ 20 million (Rs 92 crore) over the next three years in their newly formed joint venture for outsourced telecom services.
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.
Wipro BPO, the business process outsourcing division of global IT services provider Wipro Technologies, would add about 1,000 people at its Hyderabad centre in six to eight months.
'We are looking at the next target which is to be a $1 billion ARR firm in the next 4-5 years.'
Leading technology solutions provider, HP today announced Wipro as its first Indian global system integration (GSI) partner.
"Our strategy is to recruit non-engineering graduates, in addition to engineering and make them fit into the slot. We are still working out the details," Wipro Technologies joint CEO Girish Paranjpe said.
This will also apply to those working temporarily on onsite projects.
Trading in the equity market this week will be highly influenced by a host of important triggers, with quarterly earnings from IT majors TCS, Wipro, and domestic inflation and IIP data taking the centre stage in dictating the movement in equities, analysts said. Besides, global factors and trading activity of foreign investors will also drive markets. "We are approaching the first quarter earnings season, with HCL Tech, TCS and Wipro set to report their earnings this week.
India's top technology companies will witness a tepid revenue expansion in the third quarter (October - December) of the current financial year (Q3FY24) - along expected lines - on the back of furloughs and no blockbuster deals, even as the momentum gained from Generative AI (GenAI) is likely to take centre stage. IT services and consulting firm Accenture's first quarter numbers in FY24 showed a significant pick up in GenAI spending. It signed new bookings to the tune of $450 million in this space, a surge from the $300 million signed in the whole of FY23.
We saw the highest growth coming in from BFSI (banking, financial services and insurance) last quarter than any of our competitors. It has grown very well. But the others have also now stepped up their focus on BFSI.
IT major Wipro on Monday said it has been ranked as a leader in the global R&D service provider survey by Zinnov Management Consulting for the fourth successive year.
Software services giant Wipro Ltd is likely to lose business from its big client 186k, a former broadband telecoms unit of Lattice Plc which merged with National Grid Transco, vice-chairman Vivek Paul said.
The accused were identified as Rajiv Ranjan, 30, native of Bihar, Mohammed Azar, 25, native of Andhra Pradesh, Sathya Priya, 25, native of Tamil Nadu, and M N Naryanana, 29, from Kerala, according to Bengaluru Police Commissioner B G Jyothiprakash Mirji.
The Nifty IT index rose by 5.14 per cent on Friday (January 12), marking its best performance in a day since July 2020, followed by another 1.9 per cent rally on Monday. With this, the index, which tracks the share prices of India's 10 biggest information technology (IT) services companies, has increased 7.1 per cent in the past two sessions. However, the substantial rally in the index occurred at a time when India's four largest IT companies reported their worst quarterly performance in over five years.
