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Wipro, ITC, Cadila take lead in race to acquire Complan
Posted on 13th August 2018
Mumbai: ITC Ltd, Wipro Consumer Care & Lighting Ltd and Cadila Healthcare Ltd are readying to submit binding offers to buy Kraft Heinz India’s popular nutritional drink brand, Complan, two people directly aware of the development said. All three bidders are expected to submit binding bids by 15 September, the deadline set by the investment bankers—JP Morgan and Lazard—managing the transaction, the people cited above said, requesting anonymity as the discussions are private.

Wipro pays $75 million to US energy utility to settle suit
Posted on 6th August 2018
BENGALURU: Wipro has effected a $75-million settlement with its decade-old customer National Grid for release of all claims under a lawsuit the latter filed in a New York district court against the firm in 2017.

National Grid is an electricity, natural gas, and clean energy delivery company that supplies energy for more than 20 million people through its networks in New York, Massachusetts, and Rhode Island.

Wipro to settle National Grid lawsuit for $75 million
Posted on 4th August 2018
Wipro said it has effected a settlement of the lawsuit filed by National Grid US for $75 million (Rs. 499 crore), which would impact its July-September results.

The company, India's third largest software services exporter, said this settlement is for the release of all claims under the lawsuit with National Grid US.

Wipro plans to hire more freshers from campuses this year as demand rises
Posted on 23rd July 2018
Wipro, the country’s third-largest IT services company, is planning to hire more number of freshers from campuses this fiscal year as compared to that of previous fiscal year as the firm sees an uptick in demand in key markets and verticals.

With employee utilisation levels touching a high of 85.2 per cent at the end of June quarter, the company also needs a bench of reserved employees to deploy in newer projects

Wipro bounces back in Q1, net profit rises 2% to Rs 21 billion
Posted on 21st July 2018
Wipro, India’s third-largest IT services company, on Friday announced better-than-expected financial numbers for the first quarter ended June 2018. This was backed by a revival in the key BFSI (banking, financial services, and insurance) vertical, apart from strong growth in North America, which accounts for 55 per cent of the company’s revenues.

Tech Mahindra's Gurnani earned most, but Wipro's Neemuchwala took home more
Posted on 10th July 2018
While Tech Mahindra Chief Executive Officer CP Gurnani continues to earn the highest remuneration among IT giants, in gross salary terms most CEOs took home a modest package led by Wipro's Abidali Neemuchwala.

Gurnani earned Rs 1.46 billion in 2017-18, which is 3,150 times the median employee remuneration (MRE) at the company. However, Gurnani's remuneration consisted of Rs 1.42 billion in stock options granted to him in 2013 and exercised during the current financial year.

Wipro CEO's pay rises 34.5% in FY18
Posted on 25th June 2018
Wipro chief executive Abidali Z Neemuchwala saw his pay package growing over 34 per cent to Rs 182.3 million during FY2017-18 compared to the previous fiscal, as per the company's annual report.

Chief Strategy Officer Rishad A Premji’s compensation also grew by more than 250 per cent to Rs 58 million in the said fiscal.

HCL ups the ante to dislodge Wipro from number 3 position
Posted on 21st June 2018
Anil Chanana let the cat out of the bag at an analyst call earlier this year. The chief financial officer of HCL Technologies said he expects half the growth for the current fiscal to come organically. “If I take 10.5% as being the middle of the range, I am cutting it exactly in half — 5.25% is organic and 5.25% is inorganic.”

Tariq Premji joins board of Wipro Enterprises
Posted on 8th June 2018
BENGALURU: Tariq Premji, the younger son of Wipro chairman Azim Premji, has been appointed to the board of Wipro Enterprises, the $1.23 billion privately held non-IT business that makes soaps such as Santoor and builds aerospace sub-systems for plane makers like Airbus and Boeing.

The 30-year-old, who started off working in the family investment arm Premji Invest and also spent considerable time in the philanthropy initiatives of Premji, joined the Wipro Enterprises board effective June 1, according to regulatory disclosures.

IT czar Azim Premji picks up 6% stake in Kishore Biyani’s Future Retail for Rs 1,700 crore from Bharti Group
Posted on 7th June 2018
IT czar Azim Premji-led PremjiInvest picked up a 6% stake in Future Retail from Bharti Group for about Rs 1,700 crore, in a block deal on Thursday. “Mittal family which held 9% stake in Future Retail, has sold 6% stake to PremjiInvest. PremjiInvest is one of the larger investors in consumer space in India. They are also investors with us in Future Lifestyle Fashion,” Kishore Biyani, the founder and chief executive officer of Future Group told in an interview to CNBC TV18, adding that the total transaction value is about Rs 1,700 crore.

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