Wipro founder Azim Premji has transferred 1.02 crore equity shares of Wipro held by him to his two sons --Rishad Premji and Tariq Premji-- as 'gift', according to exchange filing. The Wipro scrip is currently valued at Rs 472.9 per share, and at roughly this value, the transferred shares will amount to a whopping Rs 483 crore.
Indian IT major Wipro on Saturday announced the resignation of its CEO Thierry Delaporte and named Srinivas Pallia as the new chief executive officer effective immediately. Wipro's Board noted the resignation of Delaporte with effect from April 6, 2024, the company said in a BSE filing, and added he will be relieved from the employment of the company with effect from the close of business hours on May 31, 2024.
Wipro Ltd on Wednesday reported a 9.6 per cent drop in its net profit in the second quarter, on lower earnings from clients in non-US markets. The company reported a net profit of Rs 2,649.1 crore in July-September quarter, compared to Rs 2,930.6 crore in the same period a year back, the company said in a statement. Revenues rose to Rs 22,539.7 crore in the quarter under review, from Rs 19,667.4 crore a year-ago.
The National Company Law Appellate Tribunal has dismissed an operational creditor's petition to initiate insolvency proceedings against Wipro Ltd. A two-member Chennai bench of the appellate tribunal held earlier that there was a pre-existing dispute over the payment between Wipro and the petitioner and observed that the Insolvency and Bankruptcy Code was not framed for being a "mere recovery legislation for creditors". The National Company Law Appellate Tribunal (NCLAT) has upheld the order of the NCLT.
Wipro Ltd on Friday posted 2.8 per cent year-on-year rise in its consolidated net profit for December quarter, at about Rs 3,053 crore. The net profit stood at Rs 2,969 crore in the year-ago period. Revenue of the Bengaluru-headquartered IT company came in at Rs 23,229 crore in Q3FY23, 14.3 per cent higher than the same period of previous year.
IT services company Wipro Ltd on Wednesday reported about a 21 per cent year-on-year fall in its consolidated net profit to Rs 2,563.6 crore for the first quarter ended June 2022. The profit for the period (attributable to the equity holders of the company) stood at Rs 3,242.6 crore in the year-ago period. The net profit was down 20.6 per cent on a year-on-year basis, according to a filing.
Markets regulator Sebi has restrained an Infosys employee and his connected person, who is an employee of Wipro Ltd, from the securities market till further orders in a matter related to alleged insider trading in Infosys shares. The market regulator has also directed impounding of illegal proceeds of Rs 2.62 crore, according to a Sebi order dated September 27. The alert system of Sebi had generated insider trading alerts for Infosys' scrip around the corporate announcement about the strategic partnership of Infosys with Vanguard.
Demerger to cut Premji holding by 2.7 per cent, investors to get 12 per cent more for their shares.
Within days of announcing mega investments for building in Hyderabad its second data centre cluster in India, Amazon Web Services (AWS) on Monday said it is excited about the India market, where cloud adoption offers massive headroom for growth. Pledging its long-term commitment to the India market, AWS, Amazon's cloud computing unit, said it expects global uncertainties to accelerate the decisions by companies to opt for flexible, on-demand cloud infrastructure to pare costs, gain efficiencies and drive business innovation. "Cloud reacts well to uncertainty," Puneet Chandok, president - commercial business, AWS India and South Asia, Amazon Internet Services Pvt Ltd (AISPL) told PTI.
Exporters on Thursday demanded fiscal incentives, tweaking in customs duties on certain products and credit at affordable rates in the forthcoming Budget to boost exports and create jobs. In a pre-budget virtual meeting with Finance Minister Nirmala Sitharaman, the Federation of Indian Export Organisations (FIEO) said the depreciation of the rupee against the US dollar is affecting exports' competitiveness and the sector requires more support. "Creation of employment is the biggest challenge faced by the country...We would urge the government to provide fiscal support to units which provide additional employment in the export sector," the exporter's body said.
Government auditor CAG has flagged "undue favour" to Wipro Ltd by UIDAI.
Wipro Ltd will be allotted 10-12 acres of land in Coimbatore for setting up a centre for its business process outsourcing division.
The decision regarding this was taken by the Board of Approval in its meeting on September 18.
A copy of the letter dated February 29 was released to the media.
With a modest workforce of 1,200, the 2007 start-up is already taking business from its bigger, established rivals, winning outsourcing contracts from leading US mortgage companies.
Wipro Ltd Chairman Azim Premji on Friday said there are "absolutely no plans" to list Wipro Enterprises, the demerged non-IT businesses firm of the group, on stock exchanges.
Emirates NBD is a banking group and a market leader across core business lines and is the leading retail banking franchise in the United Arab Emirates and is also a major player in the corporate banking arena.
Wipro on Monday said its shareholders have approved the company's plans to hive off non-IT business into unlisted arm.
Wipro and HCL Technologies among its top picks.
This is the largest philanthropic transfer by any individual in the country.
Since a week ago, better-than-expected results from Infosys Limited, Tata Consultancy Services Limited and HCL Technologies Limited sparked a 13 per cent rally in the sector subindex that grinded to a halt on Friday.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
It projected first-quarter revenue for its IT services business to be in a range of $1.58 billion to $1.61 billion - a decline of 0.6 per cent to a rise of 1.6 per cent over the previous quarter.
Wipro consolidated net profit up 20 per cent at Rs 1,932.1 crore in July-September quarter from Rs 1,610.6 crore a year ago.
Wipro Ltd on Saturday said it will fully acquire LD Waxsons Group, a Singapore-based fast moving consumer goods (FMCG) company for an all cash consideration of about $144 million (nearly Rs 790 crore).
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.
Total revenue rose to Rs 12,140 crore
With a Score of 95 on 100, Wipro is one of seven IT companies from across the world to find a place in the listing.
Wipro Ltd named T K Kurien president of Wipro HealthScience. Kurien will report into Vivek Paul, vice chairman.
The company's revenues rose by 13 per cent to Rs 9,613.1 crore (Rs 96.13 billion).
Wipro Ltd resolved to allot 2673 equity shares of Rs 2 each for exercise of stock option by eligible employees.
Wipro Ltd decoded to allot 3225 equity shares of Rs 2 each pursuant to exercise of stock options by eligible employees.
The move comes at a time when the company is looking to strengthen its position in soaps.
Wipro said it has used its industry-leading cybersecurity practices and partner ecosystem for remedial steps and has shared this intelligence with its partners to develop the AntiVirus signatures.
A parliamentary panel's suggestion that CEOs' salaries should be capped has not found favour with industry chambers and leaders, who said the matter should be left to corporates and their shareholders.
Wipro has guided for 0.8-2.8 per cent sequential growth in IT service revenue for December quarter, saying revenue from that business is expected to be $ 2,065-2,106 million.
The scope of services includes the suite of IT infrastructure and applications across the enterprise.
Around 27 Indian IT firms, including majors like Tata Consultancy Services (TCS), Infosys Technologies and Wipro Ltd, are understood to have submitted their expressions of interest (EoIs) to develop a technology platform for the Centre's Crime and Criminal Tracking Networks and Systems (CCTNS) project.
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.
Software-to-soap maker Wipro Ltd plans to reduce its greenhouse gas footprint by half in the next five years. The Bangalore-based company with significant interests in IT, would reduce GHG intensity to 2.5 tonnes per employee by 2015, according to the company's second sustainability report released recently. The GHG footprint for the India operations of Wipro's IT business stands at 4.79 tonnes per employee.
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