IT major Wipro Technologies and Gurgaon-based knowledge process outsourcing firm Copal Partners have expressed interest in bidding for the Indian back office business of Lehman Brothers Holdings, the US-based investment banking firm that filed for bankruptcy protection on Monday.
T K Kurien, chief executive officer of Wipro says the first milestone's been achieved and a complete turnaround would happen when there is consistency in growth.
Last week, Employees' State Insurance Corporation, a health insurer under the ministry of labour and employment, had said that its portals are facing technical problems, causing inconvenience to users.
From the Sensex pack, Infosys, Hindustan Unilever, Reliance Industries, ICICI Bank, Larsen & Toubro, Asian Paints, Nestle, Axis Bank, Wipro and Kotak Mahindra Bank were the major gainers. JSW Steel, State Bank of India, Tata Steel, Bajaj Finserv, UltraTech Cement, IndusInd Bank, Tata Motors and Bajaj Finance were the major laggards.
Its total income was down 4.9 per cent at Rs 14,304.6 crore
Two days after the West Bengal government scrapped the ambitious IT project at Rajarhat, the Congress on Wednesday said IT majors like Wipro and Infosys should be given alternate land elsewhere in the state.
IT company Wipro Infotech on Monday announced a tie-up with Red Hat to offer Linux services in India.
From the Sensex pack, Jio Financial Services fell the most by 4.99 per cent. Reliance Industries, Power Grid, Larsen & Toubro, JSW Steel, HCL Technologies, NTPC, Tata Steel, Wipro, Tata Consultancy Services and HDFC Bank also declined. IndusInd Bank, Infosys, UltraTech Cement, ICICI Bank, Nestle and Axis Bank were among the gainers.
Former Co-CEO of Wipro IT Business Girish S Paranjpe has joined the Silicon Valley-based Bloom Energy International as Managing Director. Bloom Energy International is a provider of breakthrough solid oxide fuel cell technology that produces clean, reliable, affordable onsite power.
Wipro Ltd, India's third-biggest software services exporter, posted about an 8 per cent rise in quarterly profit as clients in North America and Europe spent more on technology.
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.
Other than the involuntary attrition, the company has reported voluntary attrition of 11.9 per cent in the third quarter. This has resulted in a drop in the number of employees in the third quarter for the second time in the current financial year. The company started seriously looking at issues such as poor performance and fudged employment details in the second quarter of FY09 when the rate of voluntary attrition suddenly went up from just 0.5 per cent to 2.5 per cent.
Among the Sensex firms, HDFC Bank emerged as the biggest loser, falling 4 per cent. JSW Steel, Reliance Industries, UltraTech Cement, Maruti, Tata Steel, Wipro, Tech Mahindra, Bharti Airtel and Larsen & Toubro were the other major laggards. Power Grid, Asian Paints, Sun Pharma, Axis Bank, NTPC, ITC and Infosys were among the gainers.
The initiative will work on 40 areas in eight domains -- Energy & water, infrastructure, planning & buildings, Transportation, Public safety & justice, Tourism, recreation & culture, Education, Health and Social services & government administration.
Information Technology giant Wipro would start its research and development project in Goa and the state government has already earmarked a land for the project, Goa's Information and Technology Minister, Dayanand Narvekar said on Wednesday.
Wipro has emerged as the leader followed by HCL , Patni, Infosys , Mahindra Satyam and MindTree in the rating of global R&D service providers across various countries like India, China, Russia and Eastern Europe, according to a study.
IT major Wipro Corporation will be allotted 85-acre land at the proposed Knowledge Industry township at Sholinganallur in the outskirts of Chennai, for expanding its software development centre, Tamil Nadu IT Secretary Vivek Harinarain has said.
He is understood to have been promoted as a vice president,while he would continue in his present role as chief strategy officer.
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 West Bengal government unveiled a new model to allot 90 acres of subsidised plots each to software majors Infosys and Wipro near Rajarhat locality in the city at an unspecified rate.
India's third largest software company Wipro on Thursday said they are hopeful of some signs of recovery in the second half for the IT outsourcing services sector.
Wipro Technologies has set up a separate group within its Telecom and Product Engineering practice to aggressively tap the opportunities in the telecom service providers' space.
Wipro is contemplating vast expansion in Andhra Pradesh with proposed investment of Rs 950 crore (Rs 9.5 billion) that could generate employment for nearly 29,000 people.
At one time, the West's muktinationals ruled supreme. Now, the shining stars of India's Silicon Valley are shaking up the global IT business. A number of books have been written on the subject of late. Among them, Bangalore Tiger, which exposes the key principles of the IT giant Wipro's transnational business model, deserves special mention.
Among the Sensex firms, ICICI Bank and SBI led the index with the maximum gains of 4.68 per cent and 3.99 per cent, respectively. Other major gainers were Larsen & Toubro, Kotak Mahindra Bank and HDFC Bank. On the other hand, Wipro and Tata Motors defied the trend and traded in negative.
The big three Indian IT exporters fell over 2-4 per cent on the BSE.
During the third quarter ended December 31, 2007, the company got its first $100 million (Rs 400 crore) account, which it had bagged almost four years ago as a $200,000 (Rs 80 lakh) per annum account.
Infosys spent Rs 70 crore last year on its brand building exercise. The company underlines that it focuses on earning the respect of all its stakeholders.
Wipro has not been able to take similar strides in the health and financial sector as the competition has done, Azim Premji said.
To double revenues in four years; asks staff to 'think like a start-up', to brainstorm out-of-the-box ideas
Wipro Technologies, an information technology and outsourcing company, is poised to acquire the IT arm of a major company in Germany.
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.
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.
Sources in the company said the company had already started appraisals to give the hike from October. The Azim Premji-owned company -- which also has interests in consumer care, lighting and engineering equipment -- usually gives salary hikes to its offshore employees in October and onsite employees in January.
