The initiative will work on 40 areas in eight domains -- Energy & water, infrastructure, planning & buildings, Transportation, Public safety & justice, Tourism, recreation & culture, Education, Health and Social services & government administration.
Among the Sensex firms, IndusInd Bank, Maruti, Titan, Reliance Industries, NTPC, Mahindra & Mahindra, Larsen & Toubro, Kotak Mahindra Bank and HDFC Bank were the major laggards. UltraTech Cement, JSW Steel, Axis Bank, Tata Consultancy Services, Wipro and ITC were the major gainers.
Wipro has emerged as the leader followed by HCL , Patni, Infosys , Mahindra Satyam and MindTree in the rating of global R&D service providers across various countries like India, China, Russia and Eastern Europe, according to a study.
Its total income was down 4.9 per cent at Rs 14,304.6 crore
The West Bengal government unveiled a new model to allot 90 acres of subsidised plots each to software majors Infosys and Wipro near Rajarhat locality in the city at an unspecified rate.
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.
Wipro Technologies has set up a separate group within its Telecom and Product Engineering practice to aggressively tap the opportunities in the telecom service providers' space.
He is understood to have been promoted as a vice president,while he would continue in his present role as chief strategy officer.
India's third largest software company Wipro on Thursday said they are hopeful of some signs of recovery in the second half for the IT outsourcing services sector.
Wipro is contemplating vast expansion in Andhra Pradesh with proposed investment of Rs 950 crore (Rs 9.5 billion) that could generate employment for nearly 29,000 people.
At one time, the West's muktinationals ruled supreme. Now, the shining stars of India's Silicon Valley are shaking up the global IT business. A number of books have been written on the subject of late. Among them, Bangalore Tiger, which exposes the key principles of the IT giant Wipro's transnational business model, deserves special mention.
During the third quarter ended December 31, 2007, the company got its first $100 million (Rs 400 crore) account, which it had bagged almost four years ago as a $200,000 (Rs 80 lakh) per annum account.
Companies now require more than just academic marks; they seek students with internship experience or extra certification courses.
The big three Indian IT exporters fell over 2-4 per cent on the BSE.
Infosys spent Rs 70 crore last year on its brand building exercise. The company underlines that it focuses on earning the respect of all its stakeholders.
For IT services companies, ESG (environmental, social, and corporate governance) metrics are becoming a crucial component in winning deals as clients are considering sustainability a top priority and are keen to work with partners who are on the same page. "Sustainability is becoming an important part of the client's evaluation. "There is a tremendous focus across the world on sustainability, and it is becoming one of the top five business priorities.
Wipro has not been able to take similar strides in the health and financial sector as the competition has done, Azim Premji said.
Wipro Technologies, an information technology and outsourcing company, is poised to acquire the IT arm of a major company in Germany.
Among the Sensex firms, Wipro, HCL Technologies, NTPC, Reliance Industries, Infosys, IndusInd Bank, Tech Mahindra and Tata Consultancy Services were the major laggards. IT stocks fell on profit-taking after rallying sharply in the past two sessions. Tata Steel, Titan, Maruti, Larsen & Toubro, ITC and JSW Steel were among the gainers.
Among the Sensex firms, Nestle rose the most by 4.66 per cent. NTPC rose by 2.16 per cent, Reliance Industries by 1.53 per cent, State Bank of India by 1.04 per cent and Hindustan Unilever by 1.03 per cent. ITC, Power Grid and Bajaj Finance were the major gainers. Wipro, Tata Consultancy Services, HCL Technologies, Tata Steel, Bajaj Finserv and Maruti were among the laggards.
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.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
India's third largest IT company HCL Technologies on Friday reported a flat year-on-year growth in net profit in the March quarter at Rs 3,986 crore. However, the company posted an 8.4 per cent decline in net profit on a sequential basis, amid rising employee cost and tightening IT spends around the world. The company described the performance as "decent" in view of the global macroeconomic conditions.
To double revenues in four years; asks staff to 'think like a start-up', to brainstorm out-of-the-box ideas
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.
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.
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).
HCL Technologies was the biggest gainer in the Sensex pack, rising 5.58 per cent, followed by Tata Consultancy Services and Infosys, State Bank of India, Tech Mahindra, Tata Steel, NTPC and Wipro. In contrast, Nestle, Bharti Airtel, Maruti and ITC were among the laggards.
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 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.
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'.
