Indian IT companies TCS, Infosys, Wipro and HCL Technologies have issued advisories to their employees working in US, whose East Coast is battered by a superstorm.
Investors' wealth fell by Rs 2.89 lakh crore in two days of market fall, with the BSE Sensex tumbling 796 points on Wednesday, amid weak global market trends ahead of the US Federal Reserve's interest rate decision. Fresh foreign fund outflows and caution ahead of a host of interest rate decisions from global central banks also added to the overall bearish trend. Besides, the US Fed meeting, the BoE (Bank of England) and the BoJ (Bank of Japan) are also scheduled to meet this week.
Wipro Ltd has informed BSE that the board of directors vide the circular resolution effective January 13 resolved to issue and allot 4870 equity shares of Rs 2 each pursuant to exercise of stock options by eligible employees.\n\n\n\n
IT solutions and services provider Wipro is looking at acquiring companies worth over $100 million each to fill various technology gaps and expand to newer geographies.
Wipros Australian Development Centre will provide consulting, software development, testing and business process services to domestic and global companies in Australia.
IT firm Wipro Ltd on Wednesday reported 21.26 per cent growth in consolidated net profit at Rs 1,217.4 crore (Rs 12.174 billion) for the third quarter ended December 31, 2009.
Indian IT services companies have seen several CEO changes that have, over the past few months, led to some crucial exits at the mid-senior level in a trend that is likely to continue. According to a recent Motilal Oswal report, "Movement of mid-to-senior leadership at IT services firms is a reality, partially on account of multiple CEO-level changes.
Shares of software services firm Wipro fell by over 5 per cent in the morning trade today even as the company reported 18 per cent rise in its consolidated net profit for the third quarter ended December 31, 2012.
The body of 26-year-old Anup Kumar Agarwal was recovered from railway tracks between Byappanahalli and Krishnarajapuram stations on December 23, a few days after the company discovered the fraud and his alleged role in it.
Wipro, the information technology to soaps conglomerate, says it is unlikely, at least for now, to file a formal complaint against the employee who recently siphoned off around $4 million (around Rs 18 crore) from the company's bank account by accessing a colleague's password.
In a move towards gender inclusion, Tamil Nadu has partnered Godrej Consumer Products (GCPL) to offer a 5 per cent job reservation for LGBTQAI+ and people with disabilities at GCPL's upcoming fast-moving consumer goods manufacturing unit in Thiruporur in Chengalpattu district. According to industry experts and activists, while companies acknowledge transgender communities, this is the first time the entire spectrum of gender minorities, including lesbian, gay, bisexual, transgender, queer/questioning (one's sexual or gender identity), asexual and intersex, is receiving such a notable share of job participation in the private sector while signing memoranda of understanding with states.
Sun Microsystems India and Wipro Technologies on Thursday announced the setting up of the first-ever Sun Centre of Excellence for Java enterprise system in India.
Azim Premji-led Wipro Ltd on Friday said it will acquire 100 per cent stake in Singapore-based Unza Holdings Ltd in an all cash deal worth Rs 1,010.2 crore (Rs 10.102 billion or $246 million).
Total revenues were Rs 27,124 crore ($6.03 billion), representing an increase of 6% over the same period last year.
Total income from operations during the reporting quarter stood at 10,620.3, against Rs 9,064.5 crore in the July-September period of last fiscal, an increase of 17.16 per cent.
The project, in its entirety, is estimated to be about Rs 2,000 crore (Rs 20 billion).
'AI may perform tasks, but deep expertise and specialisation remain uniquely human.'
Senapaty indicated that Wipro's acquisitions, whenever they are made, would be large, saying the company generally avoided very small companies because "the impact is not going to be felt."
Wipro Technologies is acquiring US-based Quantech Global Services for $10 million in an all cash deal to strengthen its competence in mechanical engineering design and analysis services.
Megasoft became the third Indian software vendor to have attracted the World Bank's ire, while Nestor Pharmaceuticals and Gap International were non-IT entities.
Total income has increased from Rs 6,345.7 crore for the quarter ended June 30, 2009 to Rs 7,371.5 crore.
As a direct fallout of the controversy over the Vedic Village resort, the West Bengal government has decided to scrap its proposed IT township, meant to accommodate Infosys and Wipro, near the resort.
Wipro Technologies on Monday said it has acquired Austrian firm NewLogic for $56 million in an all cash deal.
More and more women are making their presence felt in jobs related to sciences, technology, and engineering across organisations.
The Nifty IT Index, the gauge for the performance of information technology (IT) stocks, was the worst performer on the stock exchanges on July 29, a day after Infosys posted lower-than-expected earnings growth for the June quarter and sharply cut its revenue growth guidance for 2023-24 (FY24). The IT index was down 4.1 per cent, its biggest one-day fall in three months. The decline was led by Infosys, with its shares plunging nearly 8 per cent, followed by HCLTech (-3.2 per cent), Wipro (-3.0 per cent), and TCS (-2.7 per cent).
This transaction was done by Premji's personal investment entity Zash Investments Limited. The stake was bought from ICICI Ventures, a private equity arm of ICICI Bank, sources said. Subhikha Managing Director R Subramanian was not available for comment.
The company's total revenues increased 30% year-on-year to Rs 2,744 crore (Rs 27.44 billion) in this quarter from Rs 2,110 crore (Rs 21.10 billion) during the previous corresponding period.\n\n
Indian exporters shipping goods to Israel may face higher insurance premiums and shipping costs due to the Israel-Hamas conflict, according to experts. Israel witnessed a surprise and unprecedented multifront attack by air, land and sea by the Hamas militant group, which rules the Gaza Strip, in its southern parts on Saturday morning. The International trade experts said the conflict may reduce the profits of domestic exporters but will not impact trade volumes unless war escalates.
Benchmark equity indices continued their record-shattering spree on Tuesday, with the Sensex and Nifty hitting their fresh all-time high levels in early trade, amid persistent foreign fund inflows. Also, buying in Bajaj Finance, Bajaj Finserv, Tata Consultancy Services and HDFC twins added to the positive market momentum. Rallying for the fifth straight session, the 30-share BSE Sensex jumped 381.55 points to hit its all-time peak of 65,586.60 in early trade.
'Focus on 19,400/64,900 as the key resistance levels for the Nifty/Sensex.'
The promoters of large companies such as Wipro and Tata Communications will have to shell out more stake to comply with the public shareholding norms after the Sebi said capital issued outside India would not be accounted for in the calculation of "public shareholding".
IT major Wipro on Wednesday reported a consolidated Q4 net profit up 7.7 per cent at Rs 1,480.90 crore (Rs 14.80 billion).
Employees in India will get 2-4 per cent hike.
IT major Wipro on Thursday said it will pay Rs 7 crore (Rs 70 million) each to its former joint chief executives Girish Paranjpe and Suresh Vaswani as severance packages.
