Page 15 - Wipro

IT firms may report soft Q3 as higher furloughs to weigh on revenue growth

Indian IT companies are expected to report a "soft" third quarter with higher-than-usual furloughs weighing on revenue growth, industry watchers said cautioning that demand outlook commentary is likely to be unchanged as clients continue to scrutinise discretionary spends and prioritise cost optimisation. The big earnings week for tech heavyweights is up ahead, with the top tier IT companies slated to announce their December quarter numbers this week. Tata Consultancy Services (TCS) and Infosys will declare their Q3FY24 report card on January 11 (Thursday) and Wipro and HCL Technologies on January 12 (Friday). All eyes will be on management commentary from the IT pack on prevailing customer sentiments across BFSI, and technology services, as well as demand scenario panning out in key markets of the US and Europe. "We expect IT companies to report soft quarter-on-quarter constant currency revenue growth in Q3FY24 due to higher-than-usual furloughs for most companies in our coverage

Wipro's lawsuit against ex-CFO referred to arbitration by civil court

The court took this decision as Dalal produced agreements that indicated that disputes were to be settled through arbitration

HCL Technologies to outshine IT peers in Q3 results: Elara Securities

Q3 IT preview: Elara Securities said that added that other large firms may witness a revenue dip of 1-1.3 per cent QoQ CC given weak seasonality

Court to pass orders on ex-CFO's plea for arbitration with Wipro on Jan 3

A civil court in Bengaluru will pass orders on January 3 on two interlocutory applications (IA) by Wipro Limited's former Chief Financial Officer (CFO) Jatin Pravinchandra Dalal seeking arbitration with his former company. The suit filed by Wipro on November 28 seeks payment of compensation of Rs 25,15,52,875 with interest of 18 per cent for allegedly violating a clause in his employment contract with the company. Dalal resigned from Wipro in September and is set to join rival Cognizant in January. Allegedly, the non-compete clause prevents Dalal from joining a rival within one year of leaving the company, failing which he would be liable to compensate Wipro with the value of the Restricted Stock Units (RSU) allotted to him or the sum of his total remuneration in the previous 12 months. Earlier on November 28, the counsel for Dalal had filed a memo stating that the defendant was hospitalised. In a subsequent hearing, Dalal's counsel filed IA No 4 under Section 8(2) of the Arbitrati

Infosys accuses Cognizant of unfair employee poaching, sends letter to firm

Infosys sent a written communication to Cognizant after a number of its senior executives left to join the firm

Wipro files suit against former CFO Jatin Dalal after he joins Cognizant

The IT giant also recently filed a complaint against its former senior executive Mohd Haque, and accused him of violating a non-compete clause embedded within his employment contract

Wipro files case against former CFO Jatin Dalal who moved to Cognizant

Dalal has sought that the matter be referred to arbitration, the case will now be heard by a Bengaluru civil court on January 3

Top execs exit at Infosys, Wipro underscores importance of talent creation

To mitigate attrition of senior leaders industry experts say companies must prioritise providing challenging projects that align with aspirations, skill sets of these seasoned professionals

Infosys, TCS, Wipro: Do IT stocks have more steam left? What charts say

Unlike the benchmark Nifty 50, the Nifty IT index is still over 9 per cent shy from its summit. Among the frontline stocks, Infosys, TCS and Wipro look fairly placed on the charts.

Stocks to Watch: Wipro, Laurus Labs, Axis Bank, SRF, KIOCL, CGDs, BoB

Stocks to Watch on December 13, 2023: PE giant Bain Capital is likely to sell up to 1.1 per cent stake in Axis Bank via a block deal, reported Moneycontrol

Wipro inks three-year cloud migration deal with insurance company RSA

Wipro said it will help RSA build a "compliant, secure, and scalable IT infrastructure". The three-year engagement builds on Wipro and RSA's existing relationship, which began in 2016

Wipro, RSA ink new multi-year contract to accelerate cloud migration

The contract will accompany RSA on its journey over the next couple of years to modernise its infrastructure and the use of Cloud technology

Wipro chief growth officer Stephanie Trautman steps down amid restructuring

Under the leadership of CEO and MD Thierry Delaporte, Wipro started the CGO to create a focussed unit to chase large deals

Wipro Consumer acquires 3 brands from VVF to expand personal care segment

The acquisition will be a strategic expansion for Wipro in the personal wash segment

Nifty hits new all-time high: Here's a look at stocks that drove the rally

Nifty hits fresh record high: Since September 15, automobile and energy linked stocks have outperformed the markets

GenAI can transform industries, only if applied responsibly: Rishad Premji

Premji also pointed out that human capital is the most important driver of social economic development and there is a need to continue to invest in world-class infrastructure

IT major Wipro, Nvidia collab for artificial intelligence in healthcare

IT major Wipro on Tuesday announced a collaboration with NVIDIA to help healthcare companies accelerate the adoption of generative artificial intelligence (AI). Wipro will leverage NVIDIA's AI software for enterprises for the production of AI across its current portfolio of healthcare solutions in the affordable care act (ACA), Medicare, and Medicaid, the company said in a statement. Wipro Enterprise Futuring President and Managing Partner Nagendra Bandaru said the collaboration will allow the companies to deliver AI-enabled innovation for the healthcare industry at scale and drive healthcare solutions with advanced computing capabilities. The integration of these technologies with Wipro's Enterprise Generative AI (WeGA) framework will enable Wipro to co-develop and deploy custom models for speech and translation AI, as well as other LLMs.

Stocks to Watch today: Tata Motors, ZEE, Ashok Leyland, GIC, Aurobindo, HGS

Stocks to watch on Friday, November 10, 2023: Biocon, Hindustan Aeronautics, Hindalco, LIC, M&M, ONGC, SAIL and Tata Chemicals among prominent companies scheduled to announce Q2 results today.

Wipro may skip salary hikes for top performers with higher compensation

The move comes at a time when Wipro is dealing with a plethora of problems ranging from weak client spending to tough competition from larger rivals

Wipro asks employees to work from office thrice a week as Covid curbs eased

Companies have been reversing or modifying their "remote work" policies as Covid-19 pandemic-related restrictions wound down for reasons including better communication and collaboration among workers.