Wipro Infotech, Oracle India and Mumbai-based media and entertainment technology group Media e2e have formed a media technology consortium
Wipro Infotech on Friday announced its largest IT outsourcing deal in India.
Wipro said it is 'exploring all legal options at its disposal to seek redressal' against any such move by the authorities.
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.
Almost all Indian IT companies would pay between $8,000 and $10,000 per H1B visa from April 1
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
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 IT giant, Wipro Technologies, will open a third delivery centre in China to cater to the growing needs of its multinational clients.
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
IT majors TCS, Wipro and Satyam have evinced interest to set up software development units in Punjab.
Trading in the equity market this week will be highly influenced by a host of important triggers, with quarterly earnings from IT majors TCS, Wipro, and domestic inflation and IIP data taking the centre stage in dictating the movement in equities, analysts said. Besides, global factors and trading activity of foreign investors will also drive markets. "We are approaching the first quarter earnings season, with HCL Tech, TCS and Wipro set to report their earnings this week.
Among the Sensex firms, NTPC, Mahindra & Mahindra, Power Grid, Nestle, Tata Motors, ITC, Bharti Airtel and Kotak Mahindra Bank were the major gainers. In contrast, Larsen & Toubro, Wipro, JSW Steel, UltraTech Cement, and Asian Paints were among the laggards.
Total revenue rose to Rs 12,140 crore
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).
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.
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's scrip jumped 2.97 per cent to Rs 468.50 on the NSE.
Wipro had denied allegations of providing improper benefits to Bank staff.
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.
Among Sensex shares, Bajaj Finserve, ICICI Bank, Bharti Airtel, Bajaj Finance, Sun Pharma, Maruti Suzuki, ITC, and Nestle were the lead gainers. On the other hand, L&T Wipro, IndusInd Bank and TCS and Tata Motors were the lead losers.
Benchmark equity indices Sensex and Nifty settled with marginal gains on Thursday in a highly volatile trade amid the scheduled monthly derivatives expiry and muted trend in the US markets. The 30-share BSE Sensex closed 86.53 points or 0.13 per cent higher at 66,988.44, registering its third day of gains. During the day, it hit a high of 67,069.89 and a low of 66,610.35.
Both these roles were handled by Laxman K Badiga, who took 'voluntary retirement' earlier this month after over three decades of service.
Companies now require more than just academic marks; they seek students with internship experience or extra certification courses.
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.
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.
The company's total income from operations rose 10.7 per cent to Rs 13,697.6 crore.
The Bangalore-headquartered firm had posted a net profit of Rs 1,623.3 crore (Rs 16.23 billion) in the year-ago period, it said in a BSE filing.
India's third largest IT company HCL Technologies on Friday reported a flat year-on-year growth in net profit in the March quarter at Rs 3,986 crore. However, the company posted an 8.4 per cent decline in net profit on a sequential basis, amid rising employee cost and tightening IT spends around the world. The company described the performance as "decent" in view of the global macroeconomic conditions.
Dalal Street investors became richer by Rs 9.68 lakh crore in five days of market rally, where the Sensex breached the historic 73,000-mark for the first time ever to reach a new record peak, taking the market capitalisation of BSE-listed companies to an all-time high of Rs 376 lakh crore. The 30-share BSE Sensex jumped 759.49 points or 1.05 per cent to settle at a new closing high of 73,327.94 on Monday. During the day, it zoomed 833.71 points or 1.14 per cent to reach its all-time peak of 73,402.16.
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.
The Bengaluru-headquartered company said the 'draft assessment order' from tax authorities for 2008-09 fiscal has arised primarily due to denial of deduction under section 10A of the Income Tax Act, 1961, in respect of profit earned by its undertaking in the Software Technology Park at Bengaluru.
Sangita Singh, senior VP and head of Wipro's global IT business strategic unit shares key moments from her 21-year-old career journey and offers lessons in leadership for young professionals.
Wipro Ltd will be allotted 10-12 acres of land in Coimbatore for setting up a centre for its business process outsourcing division.
Wipro results follow estimate-beating earnings by larger rivals Tata Consultancy Services Ltd and Infosys Ltd .
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