The decision regarding this was taken by the Board of Approval in its meeting on September 18.
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.
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.
Benchmark equity index Sensex and Nifty gave up early gains and ended lower on Monday as investor sentiment was hit due to unabated foreign fund outflows and losses in index heavyweights Reliance Industries and HDFC Bank. The 30-share BSE Sensex declined 168.21 points or 0.28 per cent to settle at 60,092.97 as 15 of its constituents dropped. The barometer opened higher and touched a high of 60,586.77 in morning session. Later in the day, it fell 297.35 points or 0.49 per cent to 59,963.83.
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 company had a net profit of Rs 1,318.8 crore (Rs 13.18 billion) in the corresponding quarter of the previous fiscal, Wipro said in a filing to the BSE.
The announcement coincides with the visit of Mexican President Felipe Caldern Hinojosa to Bangalore as part of his official four-day India tour.
T K Kurien talks on the outlook for the next year, the slow growth in the retail vertical and initiatives to introduce automation.
Housing Development Finance Corporation has divested its entire stake in the Bermuda-based Spectramind for Rs 26.4 crore to Wipro.
The scope of services includes the suite of IT infrastructure and applications across the enterprise.
Ironically, the Bangalore-based company had established itself as a major Information Technology powerhouse leveraging India's low-cost high-skilled manpower.
Among Sensex stocks, Wipro gained the most by 3.29 per cent. Ultratech Cement, Reliance Industries, Hindustan Unilever, Nestle, NTPC, M&M, HDFC Bank, ITC, Kotak Bank and Axis Bank were among the winners. On the other hand, HCL Tech fell the most by 1.24 per cent. SBI, TCS, Infosys, IndusInd Bank and Tata Steel also dropped.
Aim is to drive accountability and bring the organisation closer to the client.
Among the Sensex firms, Bajaj Finance jumped the most by 4.64 per cent. Bajaj Finserv, Kotak Mahindra Bank, Asian Paints, UltraTech Cement, ICICI Bank, NTPC, JSW Steel and Tata Steel were among the major gainers. Infosys, Mahindra & Mahindra, Wipro, Tata Consultancy Services, IndusInd Bank and HCL Technologies were the major laggards.
This is evident in the firm's client addition and mining abilities, and also in its ability to stabilise employee attrition.
Commercial vehicle manufacturer Eicher Motors said on Monday it had tied-up with Wipro Infrastructure Engineering to source hydraulic tipping kits for its new range of tippers.
Wipro's IT Business crosses $3 billion in FY 06-07;
Wipro has a good brand because of the trust and quality it enjoys globally.
So far, all three have launched their own initiatives to train teachers and students in information technology. While Infosys BPO has Project Genesis to train faculty, which in turn teaches students, Wipro recently launched a similar programme called Mission 10x.
"Outlook for wages and salaries... given the current scenario, we have no plans for increase in the course of the year," the Bangalore-headquartered, New York Stock Exchange-listed company's executive vice-president, Pratik Kumar said. On campus hiring in the current fiscal, he said the company would visit the colleges (only) in January-March (unlike previous years when they selected students a year before they got the degree) but gave no firm numbers.
'Jobs openings are scarce, but these companies are either hiring or laying off relatively few workers,' Forbes said. The magazine noted that technology and service firms dominate the 'list of job creators.' These firms are among the world's 2000 biggest companies compiled by Forbes and the league is topped by American industrial conglomerate General Electric. It also includes 47 Indian entities.
Wipro Infotech, the India and West Asian IT business of Wipro, aims to use its data centre platform to offer a host of services, including cloud computing and software as a service (SaaS) on a pay-per-use model, Anand Sankaran, senior vice-president told Business Standard.
Software major Wipro on Friday posted a net profit of Rs 411.70 crore (Rs 4.117 billion) for the second quarter ending September 30, up by 79 per cent over Rs 230.20 crore (Rs 2.302 billion) reported during the same period last year.
Wipro on Friday said it has employed 30 cost-cutting measures, especially in the area of operational efficiency, to tackle the current downturn.
Azim Premji, chairman of Wipro, met the chief minister and formally accepted the plot offered in New Town Rajarhat, on the north-eastern fringes of this city.
IT major Wipro understands clearly the difference between a bribe and 'facilitating payment' and is not averse to giving gifts "in the normal course of business" provided that these do not exceed $50.
A lot depends upon the crucial decision-making skills of the management. If you have any doubts about the management then you always have the choice of selling your shares or not buying stocks of those companies at all.
India's third-largest software services exporter, Wipro said quarterly profit rose 11 per cent from a year earlier, in line with analysts' estimates, after an increase in orders boosted earnings.
In a communique on the National Stock Exchange, Wipro said an agreement had been signed for the buyout which was expected to be completed by Q3 of FY 2006-07.\n\n
Its total income was down 4.9 per cent at Rs 14,304.6 crore
Wipro joined its other information technology peers -- Infosys, Tata Consultancy Services and HCL Technologies in beating estimates.
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