Government auditor CAG has flagged "undue favour" to Wipro Ltd by UIDAI.
Analysts, on average expected a profit of Rs 2183 crore or Rs 21.83 billion, according to Thomson Reuters data.
Scam-hit Satyam seems to be losing its status as a noteworthy rival for the top Indian IT firms, as Wipro has become the second major player in this space after Infosys to drop its name from the list of competitors.
In a bonanza to its shareholders, country's third largest IT firm Wipro on Thursday said it will buyback up to four crore shares worth around Rs 2,500 crore (Rs 25 billion).
Among the 30 Sensex companies, Axis Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, IndusInd Bank, State Bank of India, Infosys, Wipro, Tech Mahindra and HCL Technologies were the gainers. On the other hand, Titan, Maruti, Bharti Airtel, Larsen & Toubro, NTPC, Reliance Industries, Bajaj Finance and Power Grid were among the laggards.
Among the 30 Sensex companies, Power Grid, Axis Bank, State Bank of India, Bajaj Finserv, Reliance Industries and NTPC were the biggest gainers. Tech Mahindra, Infosys, Wipro, HCL Technologies and Titan were among the laggards.
Its revenue from operations grew 2.5 per cent to Rs 13,977.7 crore
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.
From the Sensex basket, Power Grid, NTPC, JSW Steel, Asian Paints, ITC, Bharti Airtel, Hindustan Unilever and Tata Motors were the biggest gainers. On the other hand, Tata Consultancy Services, Kotak Mahindra Bank, Infosys, Wipro, Mahindra & Mahindra and HDFC Bank were among the laggards.
Wipro's clients currently include over 100 US payers, healthcare providers, and public health agencies.
Subject to customary regulatory approvals, the acquisition is expected to be completed during the quarter, the Bengaluru-headquartered company said. Financial details of the transaction were not disclosed.
Among the 30 Sensex companies, Tech Mahindra, HCL Technologies, State Bank of India, NTPC, Infosys, Larsen & Toubro, Tata Consultancy Services and Wipro emerged as the biggest gainers. Hindustan Unilever, Asian Paints, Mahindra & Mahindra, Nestle, IndusInd Bank and Sun Pharma were among the laggards.
Management commentary on demand environment, and forward guidance will be in focus when Indian IT services players declare their September quarter results for financial year 2024-25 (Q2FY25). The industry is exepected to have continued on the path of recovery in Q2, similar to the preceding quarter, rather than sprint towards growth. The top four firms likely grew between 0 per cent and 4 per cent year-on-year (Y-o-Y), according to consensus estimates.
Wipro, the $5 billion company with interests in IT services, consumer care, lighting and furniture, is entering a new set of businesses which will enable the company to leverage its growth on the clean energy and agriculture sectors. The company is readying a plan to include alternate energy, water treatment, food and agriculture businesses under its infrastructure business - Wipro Infrastructure Engineering Limited.
The Bangaluru-based firm has forecast third quarter revenue from its IT services unit in the range of $1.5-1.53 billion.
Wipro Technologies, the IT services division of Wipro Ltd, said on Wednesday that it has become the first company outside the US to be conferred with Software Process Achievement
From the Sensex basket, Power Grid, IndusInd Bank, Tata Motors, JSW Steel, NTPC, HCL Technologies, Tata Steel, ICICI Bank, Mahindra & Mahindra, Axis Bank, HDFC Bank and Reliance Industries were among the major laggards. Among the gainers, Hindustan Unilever climbed over 5 per cent. Tech Mahindra, Nestle, ITC, Wipro, Tata Consultancy Services and Kotak Mahindra Bank were the other major gainers.
In a top level reshuffle, software services major Wipro on Thursday appointed Soumitro Ghosh as head of Wipro Infotech replacing Senior VP and Business Head of Global Infrastructure Services Anand Sankaran, who quit the company hours before the rejig was announced.
In a massive top-level reshuffle last week, Wipro, India's third-largest IT services firm, announced the exit of Anand Sankaran who was handling a major chunk of the company's overall business.
Sensing potential in the remote infrastructure outsourcing market, Wipro Technologies is investing heavily in the business and will soon open a centralised global command centre in Bangalore.
Bhanumurthy B M, president and chief operating officer, Wipro, tells Ayan Pramanik and Raghu Krishnan that service delivery through digital technology-enabled platforms will change the business dynamics for the company.
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.
Cognizant derived 41 per cent of its revenues from financial services.
Ashutosh Vaidya, head, Wipro BPO Solutions, and Deepak Jain, head, Technology Infrastructure Services, have put in their papers, said the sources. The reasons for the resignations could not be confirmed.
Wipro Ltd named T K Kurien president of Wipro HealthScience. Kurien will report into Vivek Paul, vice chairman.
Wipro Ltd on Wednesday clarified that company Chairman Azim Premji had stated in Mumbai that the IT major would consider accessing the capital markets only if the need for funding large acquisitions arose.\n\n\n\n
Revamp zeroes on consumer brands facing stiff competition, slower growth.
The company has also expanded its SAP services in the utilities industry, supply chain management and customer relationship management domain.
Wipro will be implementing the core banking solution for Paytm.
Among the 30 Sensex companies, Mahindra & Mahindra, Titan, HDFC Bank, Reliance Industries, UltraTech Cement, Bajaj Finance, Axis Bank, Tata Motors and Asian Paints were the biggest gainers. On the other hand, Tech Mahindra, Tata Consultancy Services, Wipro, HCL Technologies, Larsen & Toubro and State Bank of India were among the major laggards.
Software services major Wipro on Wednesday said its BPO has been rated among the top global Finance and Accounting (F&A) service providers by analyst firm HfS Research.
Wipro and Tata Power are among the world's most ethical companies, according to American think tank Ethisphere Institute.
Banerjee was one of the people instrumental in shaping the future of Wipro's IT business in its early days.
An Indian woman employee at the London office of IT major Wipro has filed a 1 million pounds compensation case of sexual discrimination.
IT services company's CEO outlined an ambitious three-year roadmap to accelerate revenue growth and lift margins.
"Three-five years is the ideal time frame for a CEO to continue in the same position in a company," says Girish Paranjpe.
According to the 18th version of Greenpeace's Guide to Greener Electronics, Wipro has topped the list of 16 electronic companies across the world based on their commitment and progress in three environment criteria: energy and climate, greener products and sustainable operations.
