Mumbai: India's third largest software services provider Wipro's consolidated net profit for the fourth quarter rose 7.7 per cent year-on-year to Rs 1,481 crore, in-line with market expectations. However, shares plunged over 7 per cent on opening on Wednesday after the street was disappointed with its weak volume growth in Jan-March and muted guidance for the first quarter. The Bangalore-based company expects revenue from IT services in April-June will be...
11:25 AM, Apr 25, 2012
Mumbai: The BSE Sensex and NSE Nifty closed with moderate losses on Wednesday, weighed down by banks, technology and ONGC. However, the recovery in Reliance Industries, ITC and L&T, and upside in auto stocks & Bharti Airtel helped the market trim losses in the last couple of hours of trade. Overall it remained a volatile session ahead of April F&O expiry on Thursday. The BSE benchmark fell 56 points or...
09:14 AM, Apr 25, 2012
Bangalore: India's leading software exporters are expected to face a challenging year ahead due to growing competition, an uncertain global economy and rising US rhetoric against shipping of jobs to low-cost locations ahead of the November presidential election. That may well take the shine off strong January-March results for companies such as Infosys and Tata Consultancy Services, which benefited from cost-conscious customers bumping up demand. The results are set to...
01:13 PM, Apr 12, 2012
Bangalore: As the US presidential election ramps up the rhetoric against offshoring jobs, India's flagship software services providers are seeking an image makeover. For Wipro, Infosys and others, multi-billion dollar outsourcing giants with U.S.-listed shares, the challenge is to be seen less as a cheap Bangalore dump for U.S. companies shipping work overseas, and more as responsible firms creating jobs and investing in America's future. "If young people in America...
09:44 PM, Mar 23, 2012
Mumbai: The diversified Mahindra Group on Wednesday announced the long-awaited merger of Mahindra Satyam with its another technology arm Tech Mahindra in an all-share deal that would create the country's fifth largest software firm with an estimated annual revenue of about $ 2.4 billion. Under the deal, which was cheered by investors of both the companies in the stock market on Wednesday, would involve the shareholders getting two shares of...
06:17 PM, Mar 21, 2012
Pune: The two convicts in the Pune BPO employee rape-cum-murder case, Purshottam Borate and Pradip Kokate, have been sentenced to death. The court called it a rarest of the rare cases, saying it was 'premeditated' and 'heinous'. The two were pronounced guilty on Saturday by a Pune court. Twenty two-year-old Jyotikumari Chaudhary was raped and killed in November 2007. Her body was found at Wadgaon, off the Mumbai-Pune Expressway, on...
01:43 PM, Mar 20, 2012
Vineet Agrawal Designation: President, Wipro Consumer Care and Lighting group The Challenge: To expand international operations and integrate the $300 million acquisition of Unza which has a strong presence in South East Asian countries like Malaysia, Vietnam, Indonesia and China How he did it: By deciding early on that he would not have the typical acquirer mindset and make as few changes in Unza as possible, letting Unza retain its...
12:08 PM, Mar 20, 2012
Mumbai: A trust controlled by Wipro's billionaire founder Azim Premji plans to sell up to 35 million shares or around a 1.4 per cent stake in the Indian software company on the stock market via a new auction process to fund education projects. Premji and his family own about 79 per cent of India'a third-largest software exporter through various units that include the Azim Premji Trust, which will sell the...
04:39 AM, Mar 13, 2012
New York: India is home to over four per cent of the world's billionaires, including the likes of the Ambani brothers, Azim Premji and NR Narayan Murthy alongside Warren Buffet and Bill Gates in Forbes magazine's annual list of the world's richest people. Forbes's list of 1226 billionaires is topped by Mexico's 72-year-old telecom czar Carlos Slim, boasting of a networth of $ 69 billion. Slim retained his title as...
08:26 AM, Mar 08, 2012
Bangalore: IT bellwether Wipro Infotech Tuesday unveiled what it claimed to be India's first and slimmest ultrabook for the domestic market spanning enterprise and retail segments. Powered by the second generation Intel core i5 processor, the 14-inch e.go Aero Ultrabook is a mobile computing device designed, developed and manufactured to suit every Indian customer's need. "The e.go is a high-tech product for the progressive Indian on the move. We recognise...
11:58 AM, Feb 22, 2012
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
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