Wipro results follow estimate-beating earnings by larger rivals Tata Consultancy Services Ltd and Infosys Ltd .
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.
Sangita Singh, senior VP and head of Wipro's global IT business strategic unit shares key moments from her 21-year-old career journey and offers lessons in leadership for young professionals.
The Bengaluru-headquartered company said the 'draft assessment order' from tax authorities for 2008-09 fiscal has arised primarily due to denial of deduction under section 10A of the Income Tax Act, 1961, in respect of profit earned by its undertaking in the Software Technology Park at Bengaluru.
Among the Sensex firms, ICICI Bank and SBI led the index with the maximum gains of 4.68 per cent and 3.99 per cent, respectively. Other major gainers were Larsen & Toubro, Kotak Mahindra Bank and HDFC Bank. On the other hand, Wipro and Tata Motors defied the trend and traded in negative.
Wipro chairman Azim Premji on Thursday called on Prime Minister Narendra Modi.
A day after a woman employee of Wipro Technologies allegedly committed suicide, another software engineer of the firm was found dead at his residence here on Tuesday morning, police said.
Wipro BPO, the business process outsourcing arm of soaps-to-IT services player Wipro Ltd, plans to expand its operations in China and the Philippines by opening two more centres in these countries by the end of this year.
Wipro Ltd will be allotted 10-12 acres of land in Coimbatore for setting up a centre for its business process outsourcing division.
With the appointment of Mahendra Kumar Sharma, former vice-chairman of Hindustan Unilever Ltd, as an independent director of Wipro, it is clear that the tech giant wants to strengthen its corporate governance practices.
From the Sensex pack, Infosys, Hindustan Unilever, Reliance Industries, ICICI Bank, Larsen & Toubro, Asian Paints, Nestle, Axis Bank, Wipro and Kotak Mahindra Bank were the major gainers. JSW Steel, State Bank of India, Tata Steel, Bajaj Finserv, UltraTech Cement, IndusInd Bank, Tata Motors and Bajaj Finance were the major laggards.
From the Sensex pack, Jio Financial Services fell the most by 4.99 per cent. Reliance Industries, Power Grid, Larsen & Toubro, JSW Steel, HCL Technologies, NTPC, Tata Steel, Wipro, Tata Consultancy Services and HDFC Bank also declined. IndusInd Bank, Infosys, UltraTech Cement, ICICI Bank, Nestle and Axis Bank were among the gainers.
IT major Wipro has proposed to establish a software economic zone in Kolkata, according to a top government official.
Among the Sensex firms, HDFC Bank emerged as the biggest loser, falling 4 per cent. JSW Steel, Reliance Industries, UltraTech Cement, Maruti, Tata Steel, Wipro, Tech Mahindra, Bharti Airtel and Larsen & Toubro were the other major laggards. Power Grid, Asian Paints, Sun Pharma, Axis Bank, NTPC, ITC and Infosys were among the gainers.
In response, the New York Stock Exchange-listed firm said it has paid the tax and has sought a meeting with Bruhat Bangalore Mahanagara Palike for a discussion on the issue and has a 'strong enough' case in defence.
Wipro Technologies, the global IT services division of Wipro Limited, has been rated as a top leader among offshore service providers by industry analysts IDC in a comprehensive study of 21 offshore players around the world.
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The project will improve business functionality at 7-Eleven through the deployment of a consolidated, real-time transactional and reporting infrastructure.
Both firms have broken TCS' streak of industry-leading performance over the past few quarters by posting higher revenue and earnings growth this quarter.
Software major Wipro on Wednesday became the first entity to get the credit rating agency ICRA's highest category 'SVG1' rating for stakeholders value creation and governance practices.
After disclosing late last year its decision banning Satyam Computer Services, the World Bank said earlier this month that Wipro and another Indian IT firm Megasoft have also been debarred from directly doing business with it under its corporate procurement programme. The Bank had disclosed the ban on Satyam on December 25, while debarment of Wipro and Megasoft was revealed on January 11.
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.
Plans to increase headcount in the US, mainly in the banking and finance vertical.
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.
T K Kurien believes the company is on the right track.
Based on enterprise service-oriented architecture (enterprise SOA), the programme leverages a pre-developed inventory of reusable form templates, components and services that reduce the cost of form development and deployment time, enabling SAP customers to gain an unprecedented return on their investments in enterprise systems.
Wipro has already bought a 40 acre plot of land in Greater Noida and is looking for an additional 100 acres.
Wipro said on Monday that offers made by it to some of the campus recruits to join the company's BPO division is optional and in no way intended to pressure them to join the outsourcing section.
Wipro Ltd, after witnessing an increase in attrition and on the lack of good infrastructure that has resulted in increased commuting time for its employees, is now looking at growth beyond Bangalore.
Wipro Technologies has received the 2003 Asian Most Admired Knowledge Enterprise (MAKE) award in a ceremony held in Seoul, Korea on Wednesday.
A lot depends upon the crucial decision-making skills of the management. If you have any doubts about the management then you always have the choice of selling your shares or not buying stocks of those companies at all.
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
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
A company with a size exceeding $1 billion finds it really hard to innovate.
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