Trading in stock markets this week will be majorly influenced by the upcoming quarterly earnings from IT majors TCS and Infosys, along with global trends, analysts said. Besides, global oil benchmark Brent crude, rupee-dollar trend and trading activity of foreign investors would also dictate the movement, they said. "On the domestic front, all eyes will be on the beginning of corporate performance for the third quarter of the current fiscal year.
Wipro chief Azim Premji on Tuesday said the company is looking at acquisition of $50-100 million companies abroad.
On Wednesday, Wipro Infotech in exclusive partnership with California-based ZResearch launched the Wipro Supernova range of supercomputers and superstorage systems in India.
The company will significantly increase its rate of patent filing.
Firm evaluating options, could spend over $400 million.
Wipro, India's third largest information technology (IT) services company, is expected to continue with its strong show during the October-December quarter of financial year 2014.
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.
Analysts believe that investors should look at stocks that hit 52-week lows only if they have a dividend paying track record, are debt-free and have sound fundamentals.
Analyst are cautious about the performance of IT services sector from January to March quarter (Q4) of FY24 and the first half (H1) of FY25. While the Bloomberg consensus on revenue implies the market is expecting 2-3 per cent growth on a quarter-on-quarter (Q-o-Q) basis for the IT majors through FY25, the H1FY25 is likely to see even flatter returns, and Q4FY24 is likely to be poor. There is likely to be some recovery in the second half (H2FY25) but even so, there's a chance that the market will be overall disappointed.
Wipro Technologies, the global IT services business of Wipro Limited, on Tuesday announced that it has been recognized as a winner of the 2009 Global MAKE (Most Admired Knowledge Enterprises) Award for 'developing knowledge workers through senior management leadership' and 'Creating an environment for collaborative knowledge sharing.
Wipro may not see good growth in APAC regions in ensuing quarters.
India's third-largest software company, Wipro, has initiated a second round of major business and executive changes within a few weeks. A fortnight ago, the company announced the appointment of Suresh Vaswani and Girish Paranjpe as joint chief executive officers of Wipro Technologies, the company's global IT arm.
The jury is still out on whether this will lead to re-skilling.
'There is not one discussion with a client without a discussion around AI. They all have it on their mind.'
Customers can expect nimbler, more pro-active delivery, says the Wipro CEO.
"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.
Wipro is using this in-house innovation to automate internal functions such as helpdesk management
Among Sensex firms, Bajaj Finserv and Bajaj Finance fell by over 4 per cent each. Nestle, Infosys, Tata Consultancy Services, Wipro, UltraTech Cement, HCL Technologies, Larsen & Toubro and Hindustan Unilever were the other major laggards. Bharti Airtel, State Bank of India, Sun Pharma and NTPC were among the gainers.
Wipro BPO has opened a centre in Cebu, the Philippines, as a part of its global strategy.
The all-cash deal is expected to close in the March 2016 quarter.
Quantum Corp, a global leader in storage and Wipro Technologies, the global IT services division of Wipro, on Monday announced a strategic pact where Wipro will provide engineering and software design services to augment Quantum's internal storage sy
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.
As Wipro enters the new financial year, fresh after the organisational restructuring, it has given a muted revenue guidance for the next quarter, which has not gone in well with the market.
The early-bird results for the April-June quarter of 2024 (Q1FY25) hint at a slowdown in corporate revenues and profits in FY25. Corporate profits might face headwinds from a continued revenue growth slowdown and a reversal in margin gains from lower commodity and energy prices in FY24. The combined net profit (adjusted for exceptional gains and losses) of the 210 companies that have declared their Q1FY25 results so far is down 4.2 per cent from the year-ago period - their worst showing in seven quarters.
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.
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
He is betting on emerging firms to generate ideas and build wealth through Premji Invest
Wipro's ServiceNXT Operations framework will be utilised to manage PMI's technology and applications infrastructure.
The Nifty IT index, data shows, has outperformed the markets in each of the last four election years post the result. announcement.
Six years ago, the company discovered an incident of embezzlement of about $4 mn by an employee.
Why the consumer care business is still important to IT major Wipro?
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.
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.
In the Sensex pack, NTPC, Tata Steel, SBI and IndusInd Bank were among the major laggards. In contrast, Wipro, HCL Tech, Mahindra & Mahindra and Nestle were among the nine stocks that defied the trend.
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.
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.
Among the Sensex firms, Power Grid, NTPC, Tata Steel, Tata Consultancy Services, JSW Steel, Wipro, Infosys, Tech Mahindra, Reliance Industries and Bajaj Finance were the major gainers. Axis Bank, HDFC Bank, Hindustan Unilever, Larsen & Toubro and ITC were among the laggards.
The business environment is positive, with an uptick in demand, in both domestic and international markets.
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.
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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