Wipro Technologies, an information technology and outsourcing company, is poised to acquire the IT arm of a major company in Germany.
Sources in the company said the company had already started appraisals to give the hike from October. The Azim Premji-owned company -- which also has interests in consumer care, lighting and engineering equipment -- usually gives salary hikes to its offshore employees in October and onsite employees in January.
Indian exporters shipping goods to Israel may face higher insurance premiums and shipping costs due to the Israel-Hamas conflict, according to experts. Israel witnessed a surprise and unprecedented multifront attack by air, land and sea by the Hamas militant group, which rules the Gaza Strip, in its southern parts on Saturday morning. The International trade experts said the conflict may reduce the profits of domestic exporters but will not impact trade volumes unless war escalates.
In April 2008, Wipro's technology business saw one of its biggest churns in the wake of the appointment of Girish Paranjpe and Suresh Vaswani as joint CEOs under an experimental management structure devised by Chairman Azim Premji.
The financial services industry, especially banking, is in the midst of massive upgrade of existing IT set ups to cope with future regulatory and customer-driven online and mobile services, said Vijay Sharma, vice president & head domain & industry advisory services for banking, financial services and insurance.
In November last year, the Wipro board had approved the demerger of the non-IT businesses -- Wipro Consumer Care & Lighting (including furniture business), Wipro Infrastructure Engineering (hydraulics and water businesses) and Medical Diagnostic Product & Services business -- into a privately- held company to be named 'Wipro Enterprises Ltd'.
Here's a textbook case of how to win and keep a customer: It shows how the combination of relationship building and providing service that goes beyond the call of duty pays off for Wipro. The tale starts in 2003, just a few years after Germany's TUI (for Touristik Union International) AG, the world's largest travel company, was assembled through a series of acquisitions.
IT major Wipro on Friday reported a 9 per cent rise in Q3 net profit at Rs 2,192.8 crore in Q3.
The Nifty IT Index, the gauge for the performance of information technology (IT) stocks, was the worst performer on the stock exchanges on July 29, a day after Infosys posted lower-than-expected earnings growth for the June quarter and sharply cut its revenue growth guidance for 2023-24 (FY24). The IT index was down 4.1 per cent, its biggest one-day fall in three months. The decline was led by Infosys, with its shares plunging nearly 8 per cent, followed by HCLTech (-3.2 per cent), Wipro (-3.0 per cent), and TCS (-2.7 per cent).
Wipro has entered into a definitive agreement to acquire NerveWire, a Newton, Massachusetts based business and IT consulting company serving financial services clients, for approximately $18.7 million in cash, subject to adjustments.
Global IT Services and Products Profit before Interest and Tax (PBIT) was Rs 416 crores (Rs 4.2 billion).
If the deal goes through, this would be the second largest deal for Wipro in the telecom space. Earlier in April, the IT major bagged a Rs 2,500-crore (Rs 25 billion) contract from another new operator, Unitech Wireless. Importantly, Wipro will be pipping seven other IT vendors, including IBM and Tech Mahindra, who were also in discussions with Etisalat, according to sources.
After considering all options, the company has decided to enter into a negotiation with the employees, given the challenging industry situation in telecom R&D.
In what is seen by many as a succession plan, Rishad Premji, eldest son of Wipro Ltd chairman Azim Premji, has joined the IT and FMCG major as a business development manager in a low-profile entry.
Recent US border security legislation will double the H-1B and L-1 visa application fee from the present level of about $2,300 to about $4,300 per application.
Science graduates, non-science graduates and engineers, all are welcome.
Rating agency Standard & Poor's on Friday revised upwards the long-term corporate credit ratings of software majors TCS, Infosys and Wipro to 'A' from 'BBB+.'
The two company spent about over Rs 3.15 crore.
Wipro is close to setting up an IT park in Nagpur and is believed to have acquired 117 acres of land at the new special economic zone in the city.
IT major also looking at acquisitions in Germany and Canada.
Wipro Technologies on Monday announced the successful implementation of an e-Ticketing solution for easyCinema, a new venture of the Europe-based easyGroup.
On the back of growing clout of the Indian IT sector, domestic giants Tata Consultancy Services, Infosys and Wipro may soon join the league of top 10 most valued firms globally in terms of market capitalisation in the next 2-3 years.
Analysts said the transition period at Infosys and Wipro have given an opportunity to TCS and Cognizant to increase their lead.
Benchmark equity indices continued their record-shattering spree on Tuesday, with the Sensex and Nifty hitting their fresh all-time high levels in early trade, amid persistent foreign fund inflows. Also, buying in Bajaj Finance, Bajaj Finserv, Tata Consultancy Services and HDFC twins added to the positive market momentum. Rallying for the fifth straight session, the 30-share BSE Sensex jumped 381.55 points to hit its all-time peak of 65,586.60 in early trade.
Wipro has entered into a definitive agreement to acquire Oki Techno Centre Singapore Pte Ltd (OTCS), a wholly-owned subsidiary of OKI Electric Industry Co Ltd.
The project involves building a network around a dozen secured centres, each priced at pound 250 mn.
During his visit to Oman, Premji said it is potentially a very important market.
The company plans to set up a new IT park near Kolkata and recently the company's Chairman, Azim Premji, had signed an agreement with the state government to acquire additional land.
Large Indian IT services companies are expected to report "muted" sequential show in a traditionally strong second quarter, as macroeconomic challenges continue to weigh on global discretionary spending, say market watchers. The big earnings week for tech heavyweights is up ahead, with Tata Consultancy Services (TCS) scheduled to announce its results on October 11, and both Infosys and HCL Technologies on October 12. Wipro is slated to declare its Q2FY24 results next week, on October 18.
An analysis of buy and sell transactions by mutual funds during May shows that the fund houses purchased stocks from sectors like power, software, housing finance and sugar, while offloading shares from banking, refineries and airlines. According to brokerage firm Sharekhan, state-run NTPC, ONGC, TCS, Essar Oil and Reliance Petroleum figure among the favourite picks by the equity funds in the month of May.
Wipro, despite the 1.5 per cent drop on the volume front, has seen a positive uptake in terms of client additions and revenues.
Its being offered under the restricted stock unit plans of 2005 and 2007
"I cannot agree with any statement which says that there is lack of governance. I cannot agree with that perception at all," Information and Broadcasting Minister Ambika Soni told reporters.
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