The Bangalore-based firm also announced changes in certain key positions in the controllership team, but did not reveal the amount of money involved in the fraud.
Neemuchwala will be a big asset when it comes to setting things right.
IT majors TCS, Wipro and Satyam have evinced interest to set up software development units in Punjab.
Global IT giant, Wipro Technologies, will open a third delivery centre in China to cater to the growing needs of its multinational clients.
Equity benchmark indices Sensex and Nifty hit their fresh record levels on Thursday after lower inflation numbers raised hopes of an interest rate cut by the RBI. Besides, heavy buying in capital goods, consumer durable and industrial stocks also helped the indices, traders said. Retail inflation continued its downward slide to reach a one-year low of 4.75 per cent in May due to a marginal decline of prices in the food basket and remained within the Reserve Bank's comfort zone of below 6 per cent, according to government data released on Wednesday.
Shortly after scrapping the proposed IT township project -- Vedic Village -- at Rajarhat near Kolkata, West Bengal Chief Minister Buddhadeb Bhattacharjee said late on Wednesday that the two IT majors must be retained in the state, reports the Indian Express.
Global Finance, a leading finance magazine, has ranked Wipro the "best company in the computer software sector in Asia" in its annual world's best companies survey.
Wipro has signed a definitive agreement to acquire mPower Inc, a Princeton, New Jersey-based company with a development centre in Chennai, and MPACT Technology Services, based in Chennai, for an all-cash consideration of $28 million.
The country's third largest software firm said on Thursday that it will demerge non-IT businesses like Consumer Care & Lighting into a new company, a move which will allow it to focus exclusively on information technology.
What is not so well-known, possibly because of the scale and size of its information technology business, is that Wipro is the third-largest Indian-owned fast-moving consumer goods company after Nirma and Dabur -- Wipro Consumer Care and Lighting, the FMCG and lighting products arm of the company, will likely end 2009-10 with sales revenue of Rs 2,500 crore (Rs 25 billion).
From the Sensex basket, Bajaj Finance, Mahindra & Mahindra, HDFC Bank, JSW Steel, Maruti, Wipro, Bharti Airtel, Bajaj Finserv, ICICI Bank and ITC were the major gainers. Nestle India, HCL Technologies, Larsen & Toubro, Tata Consultancy Services, Tata Motors and Infosys were among the laggards.
Wipro said it is 'exploring all legal options at its disposal to seek redressal' against any such move by the authorities.
The company is unlikely to continue with the CEO-COO model
Ukraine is currently in the middle of a strategic offensive into Russia's Kursk region.
Software major Wipro has tied up with Sun Microsystems to widen its reach within the Gulf Cooperation Council countries such as UAE and Saudi Arabia.As part of the deal, Wipro would resell and integrate the entire suite of Sun systems, storage, software, and services to serve Sun's customers in the UAE, Saudi Arabia, Bahrain, Oman and Qatar.
Almost all Indian IT companies would pay between $8,000 and $10,000 per H1B visa from April 1
Software giant Wipro Ltd is planning to invest in another software development complex in West Bengal if it gets the special economic zone status from the central government.
From the Sensex firms, Wipro, NTPC, Sun Pharma, Mahindra & Mahindra, ITC and Reliance Industries were among the biggest laggards. IndusInd Bank, Axis Bank, Bajaj Finance, HDFC Bank, Larsen & Toubro and State Bank of India were among the major gainers.
Wipro had denied allegations of providing improper benefits to Bank staff.
IT and interest rate-sensitive bank, realty, and auto stocks ended with sharp gains.
Wipro's scrip jumped 2.97 per cent to Rs 468.50 on the NSE.
Total revenue rose to Rs 12,140 crore
Wipro, which employs 22,000 people across Chennai, is the latest IT service provider to warn of the impact of the floods in a city
The first quarter of the financial year 2009-10 was exceptional for Wipro's consumer care business. Santoor, its flagship soap brand, which contributed close to Rs 850 crore in 2008-09 to the company's coffers, became the number one brand in South India in its category.
Both these roles were handled by Laxman K Badiga, who took 'voluntary retirement' earlier this month after over three decades of service.
Wipro Ltd will be allotted 10-12 acres of land in Coimbatore for setting up a centre for its business process outsourcing division.
Tata Consultancy Services (TCS), India's largest IT services firm, is planning to increase salaries by an average of 7-8 per cent for its offsite employees and 2-4 per cent for its onsite staffers in 2024-25. High performers can expect a raise of 12-15 per cent. The company, which had a headcount of 603,305 as of December 31, 2023, will be closely looking at the promotions and the process may also get pushed to the first quarter of FY25, revealed a source on condition of anonymity, because he is not authorised to speak to the media.
Market benchmarks Sensex and Nifty wilted under selling pressure on Friday after a five-day rally as investors pared exposure to banking, financial and consumer durable stocks amid mixed trends in global markets. Rising global crude prices, a depreciating rupee and persistent foreign fund outflows further weighed on sentiment, traders said.
IT major Wipro has proposed to establish a software economic zone in Kolkata, according to a top government official.
IT major Wipro on Friday reported 9.75 per cent increase in consolidated net profit at Rs 1,284.9 crore for the second quarter ended September 30.
Wipro Technologies, the global IT services division of Wipro Limited, has been rated as a top leader among offshore service providers by industry analysts IDC in a comprehensive study of 21 offshore players around the world.
From the Sensex basket, Titan, Reliance Industries, Asian Paints, Tech Mahindra, IndusInd Bank, UltraTech Cement, Wipro and ITC were the major laggards. ICICI Bank, Infosys, Bajaj Finserv, Tata Steel, Axis Bank, Bajaj Finance, Nestle and Mahindra & Mahindra were among the major gainers.
Wipro BPO, the business process outsourcing arm of soaps-to-IT services player Wipro Ltd, plans to expand its operations in China and the Philippines by opening two more centres in these countries by the end of this year.
