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Wipro share price jumps after strong Q2 results; should you buy or sell stock?
Posted on 16th October 2019
Shares of India’s major IT giant Wipro gained on Wednesday morning after the firm reported robust Q2 results. Wipro share price jumped more than 3.29% to hit the day’s high at Rs 251.80 on BSE. Wipro on Tuesday reported a 35% on-year jump in net profit to Rs 2,552 crore in the second quarter of the ongoing fiscal as compared to Rs 1,889 crore in the corresponding period previous fiscal. The software exporter recorded better-than-expected results amid global spending squeeze among its clients.

Wipro completes acquisition of International TechneGroup
Posted on 5th October 2019
Bengaluru-based IT services company Wipro Ltd has completed the acquisition of US-based International TechneGroup Inc (ITI).

Referring to an earlier announcement on the proposal to acquire ITI, Wipro, in a BSE filing on 4 October, said that “the said acquisition has been completed on October 3, 2019."

Wipro sets up venture fund to invest in consumer brands start-ups
Posted on 19th September 2019
Wipro Consumer Care and Lighting has set up a venture fund to invest in start-ups in the consumer brands space with India and South East Asia being focus markets. The ‘Wipro Consumer Care – Ventures’ will focus on companies with a differentiated approach where both parties can learn by leveraging their strengths and add value to each other.

Premji, promoter group entities sold 230 mn shares during Wipro buyback
Posted on 11th September 2019
Azim Premji and other promoter group entities sold about 22.46 crore shares worth over Rs 7,300 crore during the Wipro buyback offer that closed last month.

In a regulatory filing on Wednesday, Wipro said it had bought back 32.3 crore equity shares under the buyback scheme at Rs 325 apiece, and the total amount utilised was about Rs 10,499.99 crore.

Wipro may be lagging on growth but is managing its receivables better
Posted on 29th August 2019
The story at Wipro Ltd in recent years has been a series of false starts. Even as revenue growth for its larger peers, Tata Consultancy Services Ltd (TCS) and Infosys Ltd, accelerated, Wipro lagged. But one metric where the company is scoring is cash conversion.

Wipro inks pact with Indian Institute of Science for research in robotics, 5G
Posted on 20th August 2019
Wipro Limited on Tuesday announced a strategic partnership with the Indian Institute of Science (IISc) to conduct advanced applied research in autonomous systems, robotics and 5G space. The two organisations have jointly set up the Wipro IISc Research and Innovation Network (WIRIN), an industry academia collaboration unit.

TCS, Infosys, Wipro, HCL flag market access woes in China
Posted on 2nd August 2019
Top information technology companies such as TCS, Wipro, Infosys, Tech Mahindra and HCL have told the government that China remains a difficult market to do business in, despite the fact that they have been present in the world’s third-largest IT services market for over a decade now.

In a meeting with commerce and industry minister Piyush Goyal late on Wednesday, the top executives of these companies said market access in China is a nagging issue, thanks to various non-tariff barriers employed by Beijing.

Wipro’s Rs 10,500 crore buyback begins on Aug 14; share price jumps 4%
Posted on 1st August 2019
Wipro will begin its Rs 10,500 crore buyback process on August 14 and close on August 28. The last date for the settlement of bids on the exchange is September 9, the company said Tuesday. The IT company’s board on April 16 had approved a buyback of up to 323 million equity shares, 5.35 per cent of the paid-up equity capital of Rs 325 each for an aggregate amount not exceeding Rs 10,500 crores.

Wipro rating: Reduce; A muted start to the new fiscal
Posted on 23rd July 2019
Wipro’s weak start to the year will lead to another year of mid-single digit growth. Financial services, the principal growth driver, may hit an air pocket. Rest of the verticals have not displayed enough muscle to paper over the gap that financial services can potentially create. Net result is a high chance that FY2020E growth could be similar or lower than FY2019 growth. We cut revenue growth estimates and retain our cautious view. Fair value is cut to Rs 260 (from Rs 270 earlier).

Wipro net up 12.5% at Rs 2,388 crore in Q1, revenue growth tepid at 5.3%
Posted on 18th July 2019
IT services major Wipro continued to witness tepid revenue growth in the first quarter of the ongoing financial year owing to uncertainty in the macro environment apart from delay in closure of large projects.

Operating margins also dipped because of rising wage cost and higher expenses due to changing onshore-offshore mix, in spite of the company reporting forex gains.

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