The company, which in the previous quarter announced former Capgemini top executive Thierry Delaporte as its new chief executive officer and managing director, is looking at improving its performance in coming quarters.
'While parliament has elected him, the people are demanding that he goes home.'
The National Company Law Appellate Tribunal (NCLAT) on Monday adjourned till February 25, the hearing on the plea of e-commerce major Amazon, seeking an interim stay over the order passed by fair trade regulator CCI, which suspended the over-two-year-old approval for its deal with Future Coupons Pvt Ltd (FCPL). When the matter was called for hearing, a two-member bench expressed its difficulties to take up the matter on Monday, as one of the members is retiring in the next four days, after completing his tenure. In this matter, NCLAT would also have to hear other parties such as fair trade regulator CCI, before passing an order and it would take some more time and then the retiring member would not be a part of the bench.
Infosys CEO Salil Parekh has got a massive 88 per cent jump in annual remuneration to Rs 79.75 crore, making him one of the highest-paid executives in the country. The software services firm has sought shareholders' approval for the reappointment of Parekh as chief executive officer and managing director for a second five-year term beginning July 1. According to the company's annual report released on Thursday, Parekh, 58, took home a salary of Rs 71.02 crore in the fiscal year ended March 31, 2022.
Under fire for technical glitches plaguing the new income tax return filing portal, Infosys CEO Salil Parekh on Wednesday said the new portal developed by his company is seeing "steady progress" and already 1.9 crore returns have been filed. He further said that taxpayers' concerns are being "progressively addressed". "We are seeing a steady progress on the income tax system. As of yesterday we had over 1.9 crore returns that have been filed using the new system.
Traders' body CAIT on Wednesday accused e-commerce major Amazon of indulging in serious contraventions of FDI policy and Foreign Exchange Management Act. The body also blamed the online firm for not seeking the government's approval for conducting multi-brand retail activities in India.
IT services major Wipro on Wednesday posted an about 21 per cent increase in consolidated net profit at Rs 2,968 crore for the December 2020 quarter. The net profit attributable to shareholders in the year-ago period was at Rs 2,455.9 crore, according to a regulatory filing by Wipro. Its revenue from operations grew nearly 1.3 per cent to Rs 15,670 crore from Rs 15,470.5 crore in the quarter ended December 2019. Wipro, which gets a bulk of its topline from IT services, said it expects revenues from that business to be in the range of $2,102 million to $2,143 million in the March 2021 quarter.
Flipkart has promoted several of its leaders into newer roles at a time when the Walmart-owned e-commerce giant has internally raised its IPO (initial public offering) valuation target to about $60 billion and aims for a US listing in 2023, according to the sources. "I am delighted to announce the promotion of some of our exemplary leaders," said Kalyan Krishnamurthy, chief executive officer, Flipkart Group, in an internal note, and which has been reviewed by Business Standard. "Each of them has been instrumental in delivering impact and creating long-term value for Flipkart.
"...Chief Executive Officer and Managing Director Abidali Z Neemuchwala has decided to step down due to family commitments," the BSE filing said. The board of directors has also initiated a search to identify the next chief executive officer, it added.
Wipro on Friday revised upwards its IT services revenue outlook to 8-10 per cent sequential growth in the June 2021 quarter, following the completion of its $1.45 billion buyout of Capco. While announcing its March quarter results earlier this month, Wipro had said it expects to log a sequential growth of 2-4 per cent in its IT services revenues in the June 2021 quarter without including revenue from Capco and Ampion acquisitions. In March, Wipro had announced the acquisition of London-headquartered Capco in a $1.45 billion (over Rs 10,500 crore) deal - its largest ever till date.
Probe has allegedly found calculation errors by Amazon. The company paid higher GST but instead of claiming refund took wrong input tax credit.
Reliance Industries Limited is the country's most valued firm with a m-cap of Rs 9,17,953.13 crore followed by TCS Rs 8,04,980.33 crore.
Indian Badminton player Ashwini Ponnappa on Sunday got married to businessman and model Karan Medappa at a ceremony in Karnataka's Coorg.
IT services major Wipro on Tuesday posted 3.4 per cent decline in consolidated net profit to Rs 2,465.7 crore for the quarter ended September 30, and said its board has approved up to Rs 9,500 crore buyback plan. The Bengaluru-based company, which had registered a net profit (attributable to equity holders of the company) at Rs 2,552.7 crore in the year-ago period, has priced the buyback programme at Rs 400 per share.
Summary of sports events and persons who made news on Wednesday
On Saturday, an online marijuana sale racket was busted by Bhind police in Madhya Pradesh, leading to the arrest of two persons and seizure of 20 kilograms of the contraband, according to an official. The accused were operating the racket through a leading e-commerce firm, which received two-thirds of the profits generated, as per the official.
Infosys on Tuesday said the US Securities and Exchange Commission has concluded the investigation into the whistleblower allegations made last year, and that it does not anticipate any further action by the regulator. In October last year, Infosys had informed stock exchanges of having received anonymous whistleblower complaints alleging certain unethical practices by the top management. It then started a probe into the matter and roped in external investigators.
IT industry's growth will largely be led by next-generation technologies and services with areas like data, cloud and cybersecurity expected to see huge incremental growth, Wipro CEO Theirry Delaporte said. Wipro has also closed several acquisitions in the second half of FY21 across key markets like the US and Europe, which has helped the Bengaluru-based company strengthen its local presence and service offerings, he said in his note in the company's FY2020-21 annual report. "We know that industry growth will largely be led by next-generation technologies and services. "We can therefore expect to see huge incremental growth in areas such as digital, cloud, data, engineering, cybersecurity.
Walmart-owned Flipkart on Wednesday said it has set up a new fulfilment centre (warehouse) in West Bengal, its second-largest in the state, that will help in creating nearly 3,500 direct jobs. Spread across an area of over 2.2 lakh sq ft, the new facility in Dankuni will cater to the needs of Flipkart and Myntra customers in the region and bolster the e-commerce major's efforts to ramps up supply chain infrastructure in the eastern part of the country. The facility will also help thousands of sellers offer a wider selection and enable faster deliveries of customer orders within the region and neighbouring states while also helping create national market access, according to a statement.
As part of the next step, Myntra plans to popularise the brand further by making the collection accessible to customers in unexplored markets in India.
The Wipro board has also approved a Rs 10,500 crore buyback plan under which it will buy back up to 32.3 crore shares at Rs 325 apiece.
Its total income was down 4.9 per cent at Rs 14,304.6 crore
Should we be exposing our women volunteers to the barbarity of actual combat?
The Bombay high court has directed Amazon Prime Video to take down a Telugu movie until the makers of the film deleted a scene in which a Mumbai-based actor's photograph was allegedly used without prior permission.
According to the Chief Minister, Pallikal will receive a government 'high cash incentive' of Rs 60 lakh for winning two silver medals, while Chinnappa and Ghosal will get Rs 30 lakh each for their respective single silver medals.
Blackstone on Monday said funds managed by the private equity firm will acquire a majority stake in IT firm Mphasis Ltd, triggering an open offer for acquisition of up to 26 per cent stake for about Rs 8,262 crore. A wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), UC Investments (Office of the Chief Investment Officer of The Regents, University of California) and others will co-invest along with Blackstone, a statement said. Based on the open offer subscription, the blended purchase price will vary between Rs 1,452 to Rs 1,497 per share (12-16 per cent premium to 12-month average price and 3-6 per cent discount to 6-month average price) and the purchase consideration will vary between Rs 15,200 crore to Rs 21,000 crore (approximately$2-2.8 billion), the statement said.
Mani Ratnam is experimenting with a real-life historical in Ponniyin Selvan, points out N Sathiya Moorthy.
In India, itolizumab, known by the brand name Alzumab, has been priced at Rs 8,000 per vial. Most patients require four vials for Covid-19 treatment, taking the cost of the therapy to Rs 32,000.
They upset defending champions Malaysia 3-0 in the final in Islamabad.
From the beginning of 2021 Wipro has moved on to a new organisational structure. Analyst tracking the company are now wondering if CEO Thierry Delaporte's attempt to bolster Wipro's presence in the BFSI (banking, financial services and insurance) space by acquiring Capco for $1.45 billion is a step taken too early. Though many agree that Capco as a target may be good, but Wipro, which has been the most aggressive player in acquiring firms compared to its Indian players, does not have much to show in terms of performance as it continues to lag peers.
Indian IT services firm Infosys and Rolls-Royce, an aerospace and defence technology major, on Wednesday announced signing a strategic partnership for sourcing engineering and R&D Services for the latter's Civil Aerospace business. As part of the overall partnership, Rolls-Royce will "transition a significant part of its engineering centre capabilities for civil aerospace in Bengaluru to Infosys", a statement said. However, the number of people who will move to Infosys was not disclosed.
It designs microsurgical instruments, devices used in minimally invasive surgery, drug delivery devices for ophthalmic therapies and user-centric wearables.
'India is still a small market but whatever we do, we do it with full focus.'
The IT firm will soon initiate discussions with colleges to start the process from September.
Hitting out at the ruling Congress in Karnataka, he said the party failed to confer the Bharat Ratna on Ambedkar when it was in power.
About Rs 4,257 crore worth of bids have been received so far and the Centre hopes that retail investors - those investing up to Rs 2 lakh - will place bids worth at least Rs 750 crore.
While Wipro will announce its fourth quarter (Q4) results along with annual financial statements on April 15, market leader TCS will hold its board meet the next day (April 16) for approval of its financial statements. Infosys is yet to inform investors the date it will announce its Q4 earnings.
Amazon has asked Sebi to suspend its review of the Rs 24,713 crore Future-Reliance deal and not grant a no objection certification on the ground that its challenge to the agreement was before the Delhi high court. E-commerce major Amazon has written to Sebi again, this time apprising it about the admission of its appeal before the division of the Delhi high court and urged the market regulator to suspend the review of the Future-Reliance Industries Ltd (RIL) deal. This is the eighth letter by Amazon to the Securities and Exchange Board of India (SEBI) chairman Ajay Tyagi since late October. Amazon has been opposing Future group's pact with billionaire Mukesh Ambani's RIL that was signed in August last year.
This programme will offer Xiaomi phone users up to 70 per cent of the value on their old device when they upgrade to newer Redmi or Mi smartphones.
Its revenue, however, grew 20.3 per cent to Rs 21,400 crore in the December 2018 quarter as compared to Rs 17,794 crore in the year-ago period.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances