Page 19 - Wipro

Wipro Q1 profit rises 12% to Rs 2,870 cr, revenue up at Rs 22,831 cr

Expects muted Sept qtr as deal ramp-ups, client decision-making slow down

Sensex sheds 505 pts from summit, ends 165 pts up; PSU banks crack; IT gain

CLOSING BELL ON JULY 13, 2023: The NSE Nifty50 hit a new high of 19,567, before finishing with a modest gain of 29 points on Thursday. Broader indices ended in red.

Wipro Q1 results: Net profit rises 11.9% to Rs 2,870 cr, revenue up 6%

"Wipro's first quarter results come with a strong backbone of large deal bookings, robust client additions, and resilient margins," said Thierry Delaporte, CEO and Managing Director

Stocks to Watch today, July 13: Delta Corp, HDFC Bank, Patanjali, SpiceJet

Stocks to watch on July 13, 2023: Shares of TCS and HCL Technologies will react to Q1 earnings on Thursday.

Wipro's Q1 revenue may slip up to 2.3% QoQ; flat margins likely: Analysts

Wipro Q1FY24 preview: According to brokerages, revenue volatility is likely to keep Ebit (earnings before interest and tax) margins range-bound in Q1FY24, pegged between 15.5-16.1 per cent

BFSI, tech clients spending more on cost-optimisation deals: Wipro chairman

Macroeconomic environment remains challenging, impacting client spending: Rishad Premji

Wipro to invest $1 bn in AI over 3 years, launches new platform for tech

Company says Wipro ai360 will help improve value, productivity, commercial opportunities

IT giant Wipro plans to invest $1 billion in AI over next three years

The investments will focus on the expansion of AI, big data, and analytics solutions, as well as developing new research and development and platforms, it said in an exchange filing

IT cos to log muted Q1 as macro woes persist; recovery to be slow: Analysts

Indian IT services companies are expected to log a muted show in June quarter with wage hikes keeping margins under pressure amid weak macro overhang, cuts in discretionary spends, and project delays, say analysts. Some brokerages, in fact, have cautioned that pain will continue for the tech pack up ahead, as recovery is likely to be more gradual, only around Q4 FY24 or in FY25. As tech companies head into Q1 earnings season this week, experts will also be keeping a close watch on any management commentary on the revision of the growth outlook for FY24, the spread of demand deterioration beyond BFSI (banking, financial services and insurance), hi-tech, telecom and retail verticals, net hiring, project ramp downs and pricing pressures, as key monitorables. Tata Consultancy Services (TCS) and HCL Tech are scheduled to declare their results on July 12, followed by Wipro's report card a day later (July 13). Infosys will announce its Q1 numbers on July 20, while LTIMindtree is slated to

Attracted by govt support, Alcatel-Lucent hunts partners to Make-in-India

The company said that they not only want to make products for India but also plan to manufacture to export

Wipro extends closing date for Rs 12,000 crore-share buyback to Jun 30

IT company Wipro on Tuesday said it has extended the closing date for its Rs 12,000 crore-share buyback programme by a day to June 30. The last date was June 29. "On account of change in working day from June 29, 2023 to June 28, 2023, Sebi vide its e mail dated June 27, 2023 has allowed extension in the tendering period by one working day. "Accordingly, the buyback closing date will be Friday June 30, 2023 instead of Thursday, June 29, 2023," Wipro said in a regulatory filing. The company's board had approved a proposal to buyback up to 26,96,62,921 equity shares, being 4.91 per cent of the total paid-up equity shares, for an aggregate amount not exceeding Rs 12,000 crore at a price of Rs 445 per equity share.

Accenture's lowered guidance spells more trouble for IT sector: Analysts

Brokerages have maintained a cautious to negative stance on the Indian IT sector given Accenture's muted deal bookings, lagging demand in key verticals, and emerging pricing pressure

Wipro opens new office in Cape Town, deepens presence in South Africa

Wipro Ltd has inaugurated its new office at Sable Park, Century City, in Cape Town, as the IT services company underlined its commitment to clients in the region. Wipro has been present in Africa since 2007, supporting enterprises and public sectors in their digital transformation to be globally competitive. Wipro also has a strong commitment towards local communities, as it continues to build a strong local talent pool with diverse skill sets and make strategic investments that will better serve clients, the company said in a statement. Africa is one of the six focus regions that comprise Wipro's APMEA Strategic Market Unit. Anis Chenchah, Chief Executive Officer - Asia Pacific, Middle East and Africa (APMEA) of Wipro and Member of the Wipro Executive Board, termed the inauguration of the new office as a significant milestone for Wipro. "This new office will help us better address the requirements of the growing client base in the region and provide interesting opportunities to th

At Wipro, future hikes to depend on upskilling, reskilling, says HR boss

Saurabh Govil has stated that niche skills such as generative AI and cybersecurity will be important for employees

Top-deck Indian IT companies need to rightsize bench size: Experts

To address this challenge, IT services companies can prioritise rightsizing their bench strength

Wipro launches innovation experience for financial services with Microsoft

Microsoft and Wipro will develop new solutions to help financial services clients accelerate growth and deepen client relationships

Wipro VisionEDGE to power Bowling Center TV's new digital network

Wipro VisionEDGE, BCTV represent a significant breakthrough in the digital signage and out-of-home industry, enabling targeted customer engagement

Wipro shareholders approve Rs 12,000 cr share buyback at Rs 445 apiece

IT company Wipro shareholders have approved a share buyback programme worth Rs 12,000 crore, according to a scrutinizer report released on stock exchanges on Monday. The Wipro board had approved the buyback of 26.96 crore equity shares at a price of Rs 445 apiece. According to the Scrutinizer's report on the special resolution by way of postal ballot and e-voting process, 99.9 per cent voted in favour of the share buyback resolution. "The Chairman noted the results of voting as stated above and it was declared and recorded that the special resolution as set out in the Notice of Postal Ballot dated April 27, 2023, was duly passed by the shareholders on June 01, 2023, with requisite majority," the report said. The e-voting period commenced at in the morning of May 3 and ended at 5 pm on June 1. The Board of Wipro had approved a proposal to buyback up to 26,96,62,921 equity shares, being 4.91 per cent of the total paid-up equity shares of the company for an aggregate amount not ...

Stocks to Watch on Monday, June 5: SBI Life, Hero Moto, Bajaj Finserv, NTPC

Stocks to Watch today, June 5, 2023: Brent crude related stocks could see considerable action today as oil prices jumped over 2 per cent overnight, and another 2 per cent Monday morning

Top 4 IT companies see 40% drop in large client additions in FY23

Infosys is the only IT firm whose net client addition remained flat at 23 in FY23. All the other firms added fewer clients