From the Sensex pack, Mahindra & Mahindra climbed 3.71 per cent after the company reported an 18 per cent jump in its consolidated profit for the March quarter and the highest-ever annual profit of Rs 10,282 crore in FY23. Titan, Tata Steel, HDFC, UltraTech Cement, State Bank of India, ITC, IndusInd Bank, NTPC, HDFC Bank and Bajaj Finserv were the other major gainers. HCL Technologies, Power Grid, Maruti, Wipro, Tata Consultancy Services, ICICI Bank, Infosys, Tech Mahindra and Hindustan Unilever were the laggards.
IT solutions and services provider Wipro is looking at acquiring companies worth over $100 million each to fill various technology gaps and expand to newer geographies.
Wipros Australian Development Centre will provide consulting, software development, testing and business process services to domestic and global companies in Australia.
Wipro Ltd has informed BSE that the board of directors vide the circular resolution effective January 13 resolved to issue and allot 4870 equity shares of Rs 2 each pursuant to exercise of stock options by eligible employees.\n\n\n\n
Shares of software services firm Wipro fell by over 5 per cent in the morning trade today even as the company reported 18 per cent rise in its consolidated net profit for the third quarter ended December 31, 2012.
IT firm Wipro Ltd on Wednesday reported 21.26 per cent growth in consolidated net profit at Rs 1,217.4 crore (Rs 12.174 billion) for the third quarter ended December 31, 2009.
From the Sensex pack, IndusInd Bank, NTPC, Asian Paints, Hindustan Unilever, JSW Steel, Tech Mahindra, Bajaj Finance, Infosys, Wipro, ICICI Bank, Bajaj Finserv, HDFC Bank and Tata Motors were among the major laggards. HCL Technologies, Power Grid, Titan, Reliance Industries, UltraTech Cement, Tata Steel, State Bank of India and Mahindra & Mahindra were the gainers.
Tata Sons chairman Natarajan Chandrasekaran was paid Rs. 113 crore as remuneration for 2022-23 (FY23), including Rs. 100 crore as commission on profit. Chandrasekaran, 60, often referred to as Chandra, received a remuneration of Rs. 109 crore in 2021-22 (FY22). With this, Chandra has emerged as one of the highest-paid chief executive officers (CEO) in Corporate India for FY23.
The hiring scenario is for the batch that passes out in 2024. These are graduates who will be impacted, given 2022 graduates are not fully absorbed and 2023 onboarding still incomplete.
The body of 26-year-old Anup Kumar Agarwal was recovered from railway tracks between Byappanahalli and Krishnarajapuram stations on December 23, a few days after the company discovered the fraud and his alleged role in it.
Wipro, the information technology to soaps conglomerate, says it is unlikely, at least for now, to file a formal complaint against the employee who recently siphoned off around $4 million (around Rs 18 crore) from the company's bank account by accessing a colleague's password.
Among the Sensex firms, Power Grid, UltraTech Cement, Titan, Reliance Industries, Bajaj Finance, Mahindra & Mahindra, ICICI Bank, Tata Consultancy Services, Tech Mahindra, ITC and HDFC Bank were the major laggards. HCL Technologies, IndusInd Bank, Wipro, Nestle, Maruti, Larsen & Toubro and Asian Paints were among the gainers.
Total revenues were Rs 27,124 crore ($6.03 billion), representing an increase of 6% over the same period last year.
Sun Microsystems India and Wipro Technologies on Thursday announced the setting up of the first-ever Sun Centre of Excellence for Java enterprise system in India.
Azim Premji-led Wipro Ltd on Friday said it will acquire 100 per cent stake in Singapore-based Unza Holdings Ltd in an all cash deal worth Rs 1,010.2 crore (Rs 10.102 billion or $246 million).
Total income from operations during the reporting quarter stood at 10,620.3, against Rs 9,064.5 crore in the July-September period of last fiscal, an increase of 17.16 per cent.
Among the Sensex firms, HDFC, HDFC Bank, Mahindra & Mahindra, Kotak Mahindra Bank, Bharti Airtel, Tata Motors, Reliance Industries and Maruti were the biggest laggards. Bajaj Finance, State Bank of India, NTPC, Hindustan Unilever, Titan, Infosys, Bajaj Finserv, Wipro, Asian Paints and Tata Consultancy Services were among the major gainers.
The country's largest IT services exporter TCS on Monday said moonlighting is an "ethical issue" and against its core values but has not taken any action against any staff. The company, which employs over 6.16 lakh people, will take into account all the relevant dimensions while forming its final view on the issue which has been dominating headlines for the last few weeks, its chief human resources officer Milind Lakkad told reporters. "Moonlighting we believe is an ethical issue and it is against our core values and culture," Lakkad said.
Bajaj Finance led the Sensex gainers' chart, spurting up to 2.38 per cent, followed by Bajaj Finserve rising 2.11 per cent and IndusInd Bank closing 1.66 per cent higher. Bharti Airtel, SBI and L&T increased by 1.60 per cent, 1.28 per cent and 0.92 per cent, respectively.
The project, in its entirety, is estimated to be about Rs 2,000 crore (Rs 20 billion).
Deutsche India, which houses the largest technology centre of German investment bank Deutsche Bank, is expanding its operations in India and hiring thousands. "Since January 2023, we have hired more than 2,500 people for Deutsche India and expect a positive trend to continue for the rest of 2023," Dilipkumar Khandelwal, chief executive officer of Deutsche India and Global Head of Technology Centers told 'Business Standard'. "We will continue to hire in the similar range even for the next year." Deutsche India has about 16,000 employees in the country and most of them are engineers.
Senapaty indicated that Wipro's acquisitions, whenever they are made, would be large, saying the company generally avoided very small companies because "the impact is not going to be felt."
Megasoft became the third Indian software vendor to have attracted the World Bank's ire, while Nestor Pharmaceuticals and Gap International were non-IT entities.
Wipro Technologies is acquiring US-based Quantech Global Services for $10 million in an all cash deal to strengthen its competence in mechanical engineering design and analysis services.
Total income has increased from Rs 6,345.7 crore for the quarter ended June 30, 2009 to Rs 7,371.5 crore.
'If an employee has a contract with the employer that he cannot moonlight, you should honour that contract.'
As a direct fallout of the controversy over the Vedic Village resort, the West Bengal government has decided to scrap its proposed IT township, meant to accommodate Infosys and Wipro, near the resort.
Wipro Technologies on Monday said it has acquired Austrian firm NewLogic for $56 million in an all cash deal.
Indian technology industry has a "big opportunity" despite global macroeconomic challenges, said Rishad Premji, chairman of IT services firm Wipro, on Wednesday as he spoke about how Covid-19 had changed work. "My confidence is driven by two things: the rapid pace of digitisation across the world, and the shift in the mindset of stakeholders who engage with us as an industry," said Premji in Bengaluru while addressing industry leaders and civil servants at the Invest Karnataka 2022, the state's Global Investors Meet (GIM). Businesses are using technology for customers and employees: a trend marked by the shift to cloud computing and leverage of data.
This transaction was done by Premji's personal investment entity Zash Investments Limited. The stake was bought from ICICI Ventures, a private equity arm of ICICI Bank, sources said. Subhikha Managing Director R Subramanian was not available for comment.
The company's total revenues increased 30% year-on-year to Rs 2,744 crore (Rs 27.44 billion) in this quarter from Rs 2,110 crore (Rs 21.10 billion) during the previous corresponding period.\n\n
Mutual funds are loading up on information technology (IT) stocks on improved valuations and low downside risk after a double-digit correction in top companies like Infosys and Wipro. IT stocks were MFs' top sectoral buys in April when they invested a net of Rs 2,100 crore. In the first four months of 2023, the net investments in IT amounted to Rs 9,500 crore, shows an analysis by ICICI Securities.
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