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.
After HCL Infosystems, another IT major Wipro has decided to shut down its manufacturing of computers and servers due to changing market scenario and consumer preferences.
The voting rights with the promoter will ensure the interests of the promoter family as well as minority shareholders are protected in future, said corporate governance advocates and corporate lawyers.
The all-cash deal is expected to close in the March 2016 quarter.
Why the consumer care business is still important to IT major Wipro?
Wipro's ServiceNXT Operations framework will be utilised to manage PMI's technology and applications infrastructure.
Wipro Technologies, the global IT services division of Wipro Limited, signed a licensing and advanced development deal to jointly develop an advanced mobile and remote workforce management system.
Among the 30 Sensex companies, UltraTech Cement, Larsen & Toubro, Tata Motors, Nestle, Tata Steel, Hindustan Unilever, Bajaj Finance, Reliance Industries, Mahindra & Mahindra and State Bank of India were the biggest laggards. In contrast, Bharti Airtel, Infosys, JSW Steel, Tata Consultancy Services, Wipro and NTPC were among the biggest gainers.
He is betting on emerging firms to generate ideas and build wealth through Premji Invest
Among the 30 Sensex companies, JSW Steel, Tata Steel, Axis Bank, Reliance Industries, ICICI Bank, Hindustan Unilever, Kotak Mahindra Bank and Asian Paints were among the biggest gainers. In contrast, Mahindra & Mahindra, Sun Pharma, NTPC, Wipro, State Bank of India and Power Grid were among the laggards.
"Our strategic investments, backed by strong client relationships and client spends towards enterprise modernisation and digital transformation have enabled us to deliver a very satisfying quarter," Wipro CEO and executive director Abidali Z Neemuchwala said.
The business environment is positive, with an uptick in demand, in both domestic and international markets.
Wipro Technologies has entered into a strategic technology alliance with business intelligence software company SAS to provide a range of business intelligence applications using the SAS intelligence platform.
Software services major Wipro, which recently hived off its non-IT business into a separate entity, is betting big on the energy vertical as more companies turn to technology-centric methods for exploration and production of natural resources.
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.
Six years ago, the company discovered an incident of embezzlement of about $4 mn by an employee.
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 Ltd resolved to allot 2673 equity shares of Rs 2 each for exercise of stock option by eligible employees.
An ostensible reason for the demerger was the low profitability of the non-IT business, which was a drag on Wipro's bottom line. It accounts for 14 per cent of the company's turnover but only 6 per cent of its operating profit.
Wipro has announced changes in the management structure of its IT business and expansion of its board. The firm appointed Girish Paranjpe, Suresh Senapaty and Suresh Vaswani to the Board of Wipro Ltd. Wipro also re-structured its IT business by appointing Girish Paranjpe and Suresh Vaswani as joint-CEOs. Paranjpe was the president of the banking, financial services & insurance business unit of the global IT business of Wipro. Suresh Vaswani was the president of Wipro Infotech
'No one manufactures intelligence at the moment.' 'This is a concept that your IT industry understands.' 'What you need is infrastructure. Everything else can then be taken care of.'
Wipro Ltd decoded to allot 3225 equity shares of Rs 2 each pursuant to exercise of stock options by eligible employees.
The Chandigarh administration has approved the allotment of 30 acres of land to Wipro Technologies Limited in the second phase of the Rajiv Gandhi Chandigarh Technology Park.
Diversified company Wipro on Tuesday said it has acquired premium personal care brand Yardley's businesses in the UK and other select European nations for an undisclosed amount.
The centre will have secured facilities, labs and infrastructure for customer projects and can grow to provide a capacity of 1000 seats, the company said.
Indian IT services provider Wipro said it is keen to expand its footprint in France as the country offers huge potential for growth and has stepped up its investment in the region.
Software major Wipro's head of sales (America), Rich Garnick has resigned, the second such exit of a senior executive after the company's high-profile vice-chairman Vivek Paul left the firm a month ago.
Company identifies areas like cognitive technologies, artificial intelligence, man-machine interface, robotics
The heritage brand's journey from Bond Street to Sarjapur Road will give a facelift to Wipro's fast moving consumer goods portfolio.
Qatar's Doha Bank has said it is keen to engage Indian IT major Wipro to provide software solutions to improve its e-commerce and Small and Medium Enterprises (SME) systems, among others.
India's largest IT services company Tata Consultancy Services (TCS) on Thursday posted an 8.7 per cent year-on-year rise in its consolidated net profit at Rs 12,040 crore in the first quarter ended June 2024. The net profit for the year-ago period stood at Rs 11,074 crore.
Wipro Infotech on Thursday launched a new SuperGenius range of desktops based on Intel Pentium 4 processor with Hyper-Threading on high-volume 90-Nanometer manufacturing technology.
T K has been an integral part of the organisation's leadership for years, says Azim Premji.
Wipro Technologies has entered into a strategic alliance with Magnasoft to provide global information system (GIS)-based fleet management solutions for the transportation sector.
Wipro currently has operations in Chengdu and Shanghai, where it employs 305 people. The ramp-up will boost the company's headcount in China to over 3,000, according to Anil Bhardwaj, secretary-general, Federation of Indian Small and Medium Enterprises, who addressed reporters in Bangalore on Monday.
Wipro hires former TCS veteran as Group Prez & COO.
'The race is now on for Indian IT firms to develop their AI prowess and focus on a software-first approach to services as the people element becomes more complicated with Trump's expected new regulations.'
