New Delhi: The five-day World Economic Forum (WEF) kicks off at Mountain Resort Davos in Switzerland from Tuesday. Wipro Chairman Azim Premji who is one among the delegates said that corruption is a concern. Speaking to CNBC TV18 Corporate Affairs Editor Menaka Doshi , Premji said stemming corruption is crucial to ensure development in all spheres. Here is an excerpt from the interview: CNBC: I think the events of the...
10:04 AM, Jan 25, 2012
Mumbai: The market stayed in a positive terrain amid choppy trade on Friday, supported by banks, capital goods, steel and technology stocks. Asian markets too maintained their upside following improvement in Europe; Nikkei and Kospi rose 1-1.5 per cent; Hang Seng, Shanghai and Straits Times were up 0.3-0.6 per cent. Back home, the Sensex was up 68 points at 16,711.88 and the Nifty went up 13.55 points to 5,031.95. Chris...
09:25 AM, Jan 20, 2012
Mumbai: Third largest (among listed companies) software services provider Wipro has reported a consolidated net profit of Rs 1,456 crore in the third quarter of FY12, a growth of 12 per cent as compared to Rs 1,299.9 crore in the previous quarter. Consolidated revenue jumped 11 per cent to Rs 9,997 crore from Rs 9,007 crore quarter-on-quarter. Numbers were better than analysts' expectations; CNBC-TV18 poll had expected revenues at Rs...
08:58 AM, Jan 20, 2012
Srinagar: The Unique Identification (UID) project in Jammu and Kashmir has entered a limbo after one of the vendors, Wipro, refused to carry out the project. CM Omar Abdullah meanwhile has pleaded ignorance of the issue. Wipro Technologies, apparently in a letter to the Omar Abdullah government, said that it had had enough of its flip flops. It clearly stated in the letter that it would not be able to...
07:49 AM, Jan 02, 2012
Kolkata: India has done a great job of developing the IT services business, but it has failed in world class product development for the software industry, says Sabeer Bhatia, the founder of Hotmail.com. "While India has done a great job of developing the services business, in reality we have completely failed in product development. There is no product that is developed in India for the world market. And that is...
03:54 PM, Dec 20, 2011
Kolkata: Wipro Chairman Azim Premji on Wednesday met West Bengal Chief Minister Mamata Banerjee and expressed the desire to invest around Rs 700-800 crore to expand its operations in the state. State Finance Minister Amit Mitra, who was present at the meeting, told reporters here that the IT major wanted to make the investment at its proposed facility at Rajarhat near the metropolis. Quoting Premji, Mitra said Wipro would create...
09:07 PM, Dec 07, 2011
Bangalore: Bangalore can soon lose its tag as the country's IT hub. Plagued by government delays, the city is rapidly losing out on crucial investments. Infosys' new futuristic campus in Bangalore could well be its last in home-town Karnataka. The IT major says it is now almost giving up on its 4-year-long pending proposal to develop another campus at Sarjapur in Bangalore. The government approvals for the land have been...
09:05 AM, Nov 23, 2011
Mumbai: India has the highest per centage share of family businesses in Asia, accounting for 67 per cent of total listed companies with market capitalisation of more than $ 50 million, Credit Suisse said in a research report on Thursday. The report said 663 out of 983 listed Indian firms were family businesses and they account for half of all corporate hirings. Family businesses in India account for 46.8 per...
10:57 PM, Nov 06, 2011
New Delhi: The Congress hit back at Azim Premji after the IT czar slammed the UPA for absence of decision making, saying Premji should mention specific area of concern. Congress Spokesperson Manish Tewari reacted to Premji's charge, saying there's no truth in Azim Premji's charge. "There is absolutely no absence of decision making in the government. Government has been taking decision in national interest whether it is in international arena...
07:29 AM, Nov 01, 2011
Mumbai: Software exporter Wipro on Monday reported a growth of 1.24 per cent in consolidated net profit to Rs 1,300.9 crore for the quarter ended September 30, 2011. Last year, the company had posted a net profit of Rs 1,284.9 crore for the second quarter, as per international accounting standards. Net income from sales during the reporting quarter stood at Rs 9,094.5 crore, as against Rs 7,730.5 crore in Q2,...
08:53 AM, Oct 31, 2011
Mumbai: Shares of IT companies continued to witness heavy selling pressure in the stock market on Tuesday amid the global chill caused by the credit rating downgrade of the US, from where these companies earn about 60 per cent of their revenues. Shares of blue-chips like TCS, Wipro and Infosys bore the brunt of the bearish trading sentiment and fell sharply on the bourses. TCS, the country's' largest IT exporter,...
09:56 AM, Aug 09, 2011
Mumbai: The big three Indian IT exporters fell over 2-4 per cent on the Bombay Stock Exchange on fears that a possible double dip recession in the US and spread of sovereign debt crisis to Spain and Italy in Eurozone, may impact their revenue growth. Shares of TCS, Infosys and Wipro that rely on the US and the European market for about 60 per cent of their revenue, tumbled a...
01:06 PM, Aug 05, 2011
Bangalore: US-based Cognizant Technology Solutions Corp's quarterly revenue, which grew 34.4 per cent to $ 1.49 billion, outpaced India's No.3 software services exporter Wipro's IT services revenue of $ 1.41 billion. Cognizant continued its scorching growth and forecast a strong third quarter, at a time when rival Indian IT services exporters have warned of slowing technology spending. Discretionary development spending by clients has been spurring growth at Cognizant, while many...
12:11 PM, Aug 03, 2011
Hyderabad: TCS and Wipro are among three companies vying to bag the prestigious Sri Seva Project of the Tirumala Tirupati Devasthanam (TTD) to provide IT solutions that will help devotees. Currently TTD offers four main e-services such as e-seva, e-accommodation, e-sudarshanam and e-hundi to the devotees and the Sri Seva project would help the administration in offering services like providing rooms, 'laddus' as well as in tonsuring. There are as...
09:00 AM, Jul 27, 2011
Mumbai: Wipro, India's third largest software services provider, has reported a 2.9 per cent drop in its first quarter FY12 consolidated net profit to Rs 1,335 crore against Rs 1,375 crore in the previous quarter. Consolidated revenues went up over 3 per cent to Rs 8,564 crore from Rs 8,302.4 crore quarter-on-quarter. Suresh Senapaty, Executive Director & Chief Financial Officer of Wipro, said, "Our investments in client mining are starting...
11:06 AM, Jul 20, 2011
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