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India's third largest software services firm Wipro today said it has bagged a seven-year contract from European energy company, innogy SE.

The financial details of the contract, which will see Wipro managing the data centre and cloud services for innogy SE, were not disclosed.

Fate of over 300 job aspirants hangs in balance as IT major Wipro is yet to give any joining letters to them despite giving them campus placement 20 months ago.

Students from various professional colleges were given offer letters following a campus placement in November 2015, however the company has yet not provided them any assurance on the date of joining.

Country's third largest software services firm Wipro today said it has bagged a new five-year deal from global stainless steel maker Outokumpu.

Wipro, however, did not disclose the financial details of the IT applications management contract from the Finnish firm.

Share prices of Wipro rose by 2.54% on Thursday after the company said its shareholders have approved its Rs 11,000-crore buyback proposal. The stock hit a 16-month high and was the biggest gainer amongst Sensex stocks. The company has set September 15, 2017, as the record date to decide eligible shareholders. The stock ended 2.54% higher at Rs 299.05 on BSE. During the day, it went up by 2.86 per cent to Rs 300 – its 52-week high. On NSE, shares of the company gained 2.71% to close at Rs 299.10. The stock was the biggest gainer among the bluechips on both the key indices. The company’s market valuation also went up by Rs 3,616.23 crore to Rs 1,45,537.23 crore.

India's third-largest software services firm Wipro today said its shareholders have approved the company's Rs 11,000-crore buyback proposal.

Last month, the Bengaluru-based firm had said it will purchase up to 343.75 million shares at Rs 320 ($4.95) per scrip. The total size of the offer will be up to Rs 11,000 crore ($1.7 billion).

Infosys and Wipro from the IT industry were trading in the green on Friday morning, even as the benchmark indices and broader markets were trading in the red. The Infosys share opened at Rs 976 and went on to hit the day’s high of Rs 997 on NSE. Asian Pants, L&T and ONGC plunged by more than 2%. Sensex shed more than 300 points, while the Nifty had hit a low of 9,704 in the morning trade. The Sensex opened at 31,355 and soon dived to the day’s low of 31,194.87.

Wipro, India’s third-largest IT services firm, said it has made its cloud-based Data Discovery Platform available for customers on Microsoft Azure through a “pay-per-insight” model.

To be hosted on Microsoft’s cloud computing platform Azure, the Data Discovery Platform is a big data analytics-as-a-service solution that can enhance the ability of businesses in sectors such as banking and financial services, retail, energy, education, and manufacturing to make better decisions using pre-built applications.

Bengaluru: Billionaire Azim Premji’s two philanthropic arms, Azim Premji Philanthropic Initiatives Pvt. Ltd (APPI) and Azim Premji Trust (APT), stand to receive at least Rs5,000 crore from Wipro Ltd’s proposed Rs11,000 crore share buyback.

Both APPI and APT have additionally sought approval from market regulator Securities and Exchange Board of India (Sebi) to sell more shares than other promoters back to the Bengaluru-based information technology company.

The latest financial performance of the big three of Indian IT industry—Tata Consultancy Services (TCS) , Infosys and Wipro—underscores the fact that the macro-economic challenges still persist with business momentum not picking up and net profits dropping. In short, the prospects of a double digit growth rate is still far away. The first quarter of FY18 for this top three companies has been consistent on one point —declining net profits. If TCS’s net profit dropped on a quarter-on-quarter (QoQ) basis by 10%, it was 3.3% for Infosys and 8% in the case of Wipro. The twin factors which affected their bottomline performance were wages hikes and the appreciating rupee against the US dollar.

Wipro, country's third largest software services firm, is expected to report a marginal sequential drop in constant currency revenue for the June quarter later in the day, while the company will also consider a proposal for buyback of its equity shares.

Analysts believe revenue growth in CC terms would be well within its earlier guidance of negative 2% to nil growth for the quarter. In dollar terms, the revenue is seen declining by 0.1-0.5%.

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