Page 11 - Wipro

Who is Azim Premji? The architect of IT major Wipro's global success

Padma Bhushan awardee Azim Premji, with a net worth of $12 billion, is the founder of Wipro and established the Azim Premji Foundation

CII Summit: Azim Premji stresses companies' social responsibilities

Premji, who is also a philanthropist, emphasised the need for business houses to operate with the highest standards of integrity and stated that a lack of integrity signifies a lack of character

Wipro COO Amit Choudhary steps down, Sanjeev Jain to take charge

Jain will report to chief executive officer Srinivas Pallia and will continue to be a member of Wipro's Executive Committee

Global investors' preference for AI hits India IT stocks' heft as tech bets

Traditional software companies' earnings and valuations are at risk because their business models are not evolving with the times, said Deven Choksey, managing director of DRChoksey FinServ Pvt

After Wipro, Infosys orders 400,000 litres treated waste water from BWSSB

After Wipro, now Infosys has also taken a plunge into greywater. The tech giant will soon be supplied with four lakh litres of zero-bacteria water, according to sources in the Bangalore Water Supply and Sewerage Board (BWSSB). Starting this month, Wipro is being supplied with three lakh litres of treated water every day via tankers. "We already have Arvind Mills committing to two lakh litres a day and Channabasappa Construction one lakh litres. I just had a meeting with Ecospace Tech Park and IMZ Ecoworld, they too have expressed interest. The movement is slowly picking pace," said BWSSB chairman V Ram Prasath Manohar to PTI. Promoting reuse of greywater is important, said Manohar, as water demand in Bengaluru is projected to cross 5,340 million litres per day (MLD) by 2030. Right now, the demand exceeds 2,100 MLD of which BWSSB supplies 1,470 MLD from the Cauvery River and the rest is met through borewells and water tank deliveries. "But treated water is always available. Promotin

Wipro appoints Vinay Firake as CEO of APMEA strategic market unit

Firake succeeds Anis Chenchah, who is stepping down to pursue opportunities outside the organisation

Stocks to watch, May 7: Wipro, Bajaj Finserv, Zee Media, Muthoot Microfin

Stocks to Watch on May 7, 2024: Wipro partnered with Microsoft to introduce a suite of Generative AI-powered virtual assistants for financial services

Wipro, Microsoft team up for AI virtual assistants for financial services

Wipro's new GenAI-powered cognitive assistants will operate on Microsoft Azure Open AI and will be accessible through Azure App Services

Wipro to implement Independent Health's medicare prescription payment plan

Wipro's medicare prescription payment plan platform will streamline prescription payments

Stocks to Watch, May 2: Tata Motors, Wipro, Vedanta, Jindal Stainless, BSE

Stocks to Watch on Thursday, May 2, 2024: Vedanta is looking to invest $20 billion in India across all its business over the next four years

Wipro's CEO Srinivas Pallia set to get annual remuneration of about $6 mn

Wipro's new CEO Srinivas Pallia will receive an annual remuneration of up to USD 6 million (about Rs 50 crore), according to a regulatory filing by the Bengaluru-headquartered IT company. Earlier in April, Wipro announced the appointment of Pallia as its new CEO and MD, following the sudden resignation of Thierry Delaporte. Delaporte's annual salary of over Rs 80 crore at Wipro had made headlines last year. According to a Wipro filing related to notice of postal ballot, Pallia's remuneration will range between USD 3.5 million to USD 6 million per annum (at the lower and upper end of basic and target variable pays). "... the consent of the members be and is hereby accorded for the appointment of Srinivas Pallia as the Chief Executive Officer and Managing Director of the company, to hold office for a period of five years with effect from April 7, 2024 to April 6, 2029, on the terms and conditions of appointment, including payment of remuneration with effect from April 7, 2024...," the

Wipro bags AI deal to transform Nokia's digital workplace services

Wipro said its team will build a "bespoke" artificial intelligence-powered, cloud-based solution for Nokia's workforce of around 86,700 users globally in 130 countries of operations

Here's how much Wipro CEO Srinivas Pallia is set to earn in the first year

Wipro's new chief executive officer (CEO), Srinivas Pallia, is set to receive up to $6 million in annual compensation during his initial year

IT sector to see second consecutive year of muted revenue growth: CRISIL

The Indian IT services sector is staring at a second consecutive year of muted revenue growth due to modest increase in tech spends in Europe and the US, a domestic rating agency said on Wednesday. Crisil Ratings said it expects the sector to grow at 5-7 per cent in FY25, after a growth of 6 per cent estimated to have been achieved in FY24. The overall industry size is pegged at USD 250 billion and it creates over 50 lakh direct jobs. "The slowdown in technology spend will continue this fiscal, weighing on the revenue growth of IT service providers," said Aditya Jhaver, director at Crisil. The industry is, however, expected to sustain in the key metric of profitability, as the operating profit margins will be stable at 22-23 per cent, the agency said, attributing it to prudent management of employee costs. Crisil said the sectoral revenues achieved a compounded annual growth rate of 12 per cent for the decade through FY24. High interest rates and economic slowdown in client mark

Stock Market Highlights, April 22: Sensex sprints 560 pts, Nifty tops 22,300 in broad relief rally

Stock market highlights on April 22: Among sectors, the Nifty PSU Bank index rallied 3.3 per cent, the Nifty Realty 1.12 per cent, and the Nifty Pharma index 1.5 per cent

TCS, Infosys, Wipro see salary bills surge even as revenue growth slows

Lateral hiring in high-demand sectors like artificial intelligence (AI), machine learning (ML), cloud, and engineering services are the reason behind the surge

Stocks to Watch on April 22: RIL, HDFC Bank, Wipro, Tata Group, Laurus Labs

Stocks to Watch on Monday, April 22, 2024: Reliance Industries, Rallis India, Mahindra Logistics, Hatsun Agro Product, and Tejas Networks will announce their March quarter earnings today

TCS, Infosys, Wipro see exit of 64,000 employees in FY24 amid low demand

India's largest IT services companies Tata Consultancy Services, Infosys and Wipro saw a staggering 64,000 employees exiting in FY24, amid a weak demand environment globally and tighter tech spends by clients. Wipro, which announced its Q4 earnings on Friday, reported a fall in headcount numbers to 2,34,054 as of March 2024, against 2,58,570 in the year-ago period. Headcount declined by 24,516 during the financial year ended on March 2024. "...immediate headcount reduction has happened primarily driven by the market and demand environment as well as the operational efficiency which we have driven, which is reflective in our margins," Saurabh Govil, Chief Human resources officer at Wipro said. In the long term, as the company moves into more IP-based platform and Artificial Intelligence (AI), there could be divergence coming in terms of headcount growth, he added. India's IT services industry - a USD 254 billion powerhouse - has been feeling the heat of global macroeconomic ...

Expat impact: The story of India Inc's brushes with expat CEOs a mixed bag

Will it help to simply focus on the best person for the job?

Wipro Q4 results: Net profit drops 8% to Rs 2,835 cr, revenue down 4.2%

Wipro's shares closed at Rs 452.85 on Friday ahead of its financial results