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.
With the developments in Satyam Computer unfolding shocking irregularities, Wipro Technologies, a NYSE-listed company, on Wednesday said this incident is one of its kind and is unlikely to affect the industry.
Companies now require more than just academic marks; they seek students with internship experience or extra certification courses.
The company over the past two years has spent a little over $500 million (little over Rs 2,000 crore) for around a dozen acquisitions.
With George W Bush returning as the US president for the second successive term, Wipro Spectramind, the BPO arm of IT major Wipro Limited, is bullish about growth and adding 1,800 to the existing headcount every month at its facilities.
The company's profit rose with better IT spending by global clients and a rise in high margin digital projects.
Founded in 2006, PremjiInvest's assets under management are worth over $2 billion across India
Among the Sensex firms, IndusInd Bank, Maruti, Titan, Reliance Industries, NTPC, Mahindra & Mahindra, Larsen & Toubro, Kotak Mahindra Bank and HDFC Bank were the major laggards. UltraTech Cement, JSW Steel, Axis Bank, Tata Consultancy Services, Wipro and ITC were the major gainers.
Wipro will announce its FY03 results on April 17, the company said in a release to the Bombay Stock Exchange on Tuesday.
Domestic information technology services majors Tata Consultancy Services, Wipro Technologies and Tech Mahindra and global players like IBM and Japan-based NEC are among the 10 shortlisted companies for the Nandan Nilekani-headed Unique Identification Authority of India biometrics job.
Wipro, the country's third-largest information technology (IT) services company, is asking non-billable employees unwilling to work on any project they have been assigned to leave immediately.
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.
Wipro Technologies has signed an agreement to acquire Europe-based retail solutions provider, Enabler in an all cash deal.
Sources close to Mohamed Mushin say he regrets the indiscretion of purchasing the shares that he did, and even though it was perfectly legal, it gave the perception of conflict of interest, that his buying them under the Friends and Family IPOs seemed as it was a quid pro quo by the two companies that had secured handsome Bank contracts.
Govt expects to award contract to the lowest bidder by February.
India's third largest software services exporter ended the day 4.41 per cent lower at Rs 492.20 on the BSE after falling 8.41 per cent to Rs 471.55 in intra-day trade.
Wipro Infotech, a leading provider of IT solutions and services, on Thursday announced the launch of its high-tech Global Service Management Centre in Mysore.\n\n
Three Indian companies Wipro, Tata Steel and Tata Power have been named among the World's Most Ethical Companies.
Among the Sensex firms, Wipro, HCL Technologies, NTPC, Reliance Industries, Infosys, IndusInd Bank, Tech Mahindra and Tata Consultancy Services were the major laggards. IT stocks fell on profit-taking after rallying sharply in the past two sessions. Tata Steel, Titan, Maruti, Larsen & Toubro, ITC and JSW Steel were among the gainers.
A dog and metal detector squad was rushed to the multi-storeyed building, which also houses the Times of India office.
The pace of the progress has been very slow over the last eight years.
Wipro Ltd on Saturday said it will fully acquire LD Waxsons Group, a Singapore-based fast moving consumer goods (FMCG) company for an all cash consideration of about $144 million (nearly Rs 790 crore).
Among the Sensex firms, Nestle rose the most by 4.66 per cent. NTPC rose by 2.16 per cent, Reliance Industries by 1.53 per cent, State Bank of India by 1.04 per cent and Hindustan Unilever by 1.03 per cent. ITC, Power Grid and Bajaj Finance were the major gainers. Wipro, Tata Consultancy Services, HCL Technologies, Tata Steel, Bajaj Finserv and Maruti were among the laggards.
Concerns have been raised over rising unemployment in the US and Obama's visit to India was expected to see issues around outsourcing being discussed.
The government on Monday approved the proposals of Reliance Industries, Wipro, Hewlett Packard and Biocon to set up Special Economic Zones -- a move that is expected to generate at least 67,000 jobs by March 2006.
The awards were given by the UN's body on women for their work on principles of women's empowerment and helping champion gender equality.
The decision regarding this was taken by the Board of Approval in its meeting on September 18.
Analysts expect Wipro's revenue to grow 17 per cent this financial year, largely in line with its FY12 performance. Profits are expected to grow 14 per cent, compared to FY12.
The announcement coincides with the visit of Mexican President Felipe Caldern Hinojosa to Bangalore as part of his official four-day India tour.
Housing Development Finance Corporation has divested its entire stake in the Bermuda-based Spectramind for Rs 26.4 crore to Wipro.
Ironically, the Bangalore-based company had established itself as a major Information Technology powerhouse leveraging India's low-cost high-skilled manpower.
