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Wipro to expand presence in Saudi through tie-ups with local companies
Posted on 21st February 2019
Azim Premji-promoted Wipro Group will expand its presence in Saudi Arabia through tie-ups with local companies. Wipro Technologies has entered into a memorandum of understanding (MoU) with the Ministry of communication and IT of Saudi Arabia.

“We have been working in that market for over 15 years. They are looking for transformation of industry in areas like oil and gas, health care, education and that would required a whole lot of talent,” said Anand Padmanabhan, president, strategic sales and geographies, Wipro. The company already has 1,200 IT professionals working in Saudi Arabia.

Wipro boosts local hiring to ramp up delivery in onshore locations
Posted on 28th January 2019
With adoption of protectionist policies by governments across the world, a lot of human resource related actions of Wipro are now shifting to onsite locations including the US, Europe and Australia. The IT services firm is replicating a model similar to that of India, which it has been following for quite long, to ramp up delivery presence and hire more locals as part of its workforce in client geographies.

Wipro hits highest level since March 2000; jumps 12% in seven days
Posted on 22nd January 2019
Shares of Wipro hit a near two-decade high of Rs 353 apiece, gaining 2 per cent on the BSE, as analysts expect the company to post better revenue growth in FY20 led by continued momentum in large deal wins, robust digital growth and continued growth in BFSI (banking, financial services and insurance) and other verticals. The stock of IT services firm was trading at its highest level since March 8, 2000.

Wipro posts 35% q-o-q rise in net at Rs 2,544 crore; Operating margin improved by 5.6%
Posted on 19th January 2019
India’s third-largest software services exporter, Wipro, on Friday posted a 34.9% quarter-on-quarter rise in its consolidated net profit at Rs 2,544 crore during the October-December quarter. The company’s consolidated revenues stood at Rs 15,059 crore, a 3.5% increase over the last quarter.

The company improved its operating margin by 5.6% to 19.8%.

Wipro nears 52-week high ahead of board meet for bonus issue, Q3 results
Posted on 18th January 2019
Shares of Wipro were trading firm at Rs 341 apiece, up 1.5 per cent on the BSE, in an otherwise subdued market, ahead of the board meeting today to consider bonus issue and December quarter results.

in comparison, the S&P BSE Sensex was down 0.15 per cent at 36,320 points at 11:06 am. Wipro was trading close to its 52-week high of Rs 344 hit on December 13, 2018, on the BSE in intra-day trade.

Wipro’s Aerospace business commences deliveries to Boeing
Posted on 10th January 2019
Bengaluru: Wipro Infrastructure Engineering (WIN) on Thursday announced that it has commenced shipments of parts supplies to Boeing from its plant at Devanahalli near here.

WIN said Boeing has contracted Wipro Aerospace to manufacture strut assemblies for the 737 MAZ and Next-Generation 737 airplane programmes.

Slowdown in US economy threatens TCS, Infosys, Wipro
Posted on 4th January 2019
New Delhi: Concerns about a slowdown in US economy poses the biggest risk to India’s $167 billion information technology (IT) outsourcing industry as experts fear Fortune 1000 companies may cut spending on technology, hurting Tata Consultancy Services Ltd (TCS), Infosys Ltd and Wipro Ltd. Demand for digital services, which includes data crunching and artificial intelligence (AI) powered platforms, is still linked to the overall health of an economy, they say.

Larger outsourcing contracts may boost IT revenues in FY19
Posted on 2nd January 2019
New Delhi: The twin trends of outsourcing larger technology contracts and Fortune 1000 companies awarding work that was earlier done internally to its vendors have led analysts and information technology executives to suggest that the sector could grow faster in the year starting 1 April.

These trends are the third positive development for India’s $167 billion information technology (IT) outsourcing sector, after the first six months of the current fiscal saw IT firms adding more employees and raising salaries of some of them by as much as 40%.

Nifty IT index extends decline for fourth day; Infosys, TCS fall up to 2%
Posted on 21st December 2018
Shares of information technology (IT) companies were under pressure on Friday with the Nifty IT index falling over 1 per cent and extending its decline into the fourth straight day, after the US indices extended falls as sentiment remained fragile.

Tata Consultancy Services (TCS), Infosys, Wipro, NIIT Technologies, Larsen & Toubro Infotech, KPIT Technologies, Tata Elxsi and Sonata Software were down between 1% to 2% on the National Stock Exchange (NSE).

IT stocks under pressure; Infosys, Wipro down 2%
Posted on 18th December 2018
Shares of information technology (IT) companies were under pressure with Nifty IT index falling over 1% on Tuesday after Wall Street’s all major indices slid more than 2% on Monday, amid concerns about slowing economic growth ahead of a highly anticipated decision from the Federal Reserve on the course of US interest-rate hikes. The FOMC is scheduled to meet on Tuesday and Wednesday.

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