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Wipro to continue inorganic growth: Premji
Posted on 24th July 2014
Wipro, the country's third largest information technology (IT) services company, which last week announced an acquisition in Canada for $195 million (Rs 1,200 crore), will continue with its 'string of pearls' inorganic growth strategy.

Addressing shareholders at the company's 68th annual general meeting here, Chairman Azim Premji said Wipro would continue to look at acquisitions to strengthen its presence in growth areas.

IBM, Wipro lead race to bag Rs 1,200 crore call centre deal from Reliance Communications
Posted on 23rd July 2014
NEW DELHI: Anil Ambani-headed Reliance Communications has shortlisted IBM and WiproBSE 1.55 % among five companies each for two contracts worth a combined upto Rs 1,200 crore to upgrade technology across its call centre operations as well as to outsource those back office operations, a top official at the telco said.

IBM, Wipro, Tech Mahindra, Aegis and Vertex are those in the fray for the call centre outsourcing contract while IBM, Wipro, Cisco, Genesys and Avaya are in the running for the technology upgradation deal, the official told ET, asking not to be named.

Wipro to buy Canada's ATCO I-Tek for $195 mn
Posted on 19th July 2014
Wipro, India’s third-largest information technology (IT) services company, said on Friday it had entered into a two-way pact with Canada’s ATCO group, according to which it would acquire the Alberta-based company’s subsidiary ATCO I-Tek for $195 million (about Rs 1,176 crore) in cash, and also would provide total outsourcing solutions to the group for 10 years.

Wipro to buy Canadian firm Atco’s IT services business for $195 mn
Posted on 18th July 2014
Bangalore: India’s third largest software services exporter Wipro Ltd has agreed to buy information technology (IT) services business of Canadian logistics and utilities firm Atco Ltd for $195 million, as the Bangalore-based firm looks to expand and strengthen its presence in Canada and boost its natural gas business.

The deal, which comes less than a year since Wipro bought US-based Opus Capital Markets Consultants Llc for $75 million, is one of the company’s largest acquisitions in recent years, and comes bundled with a 10-year, $1.1-billion outsourcing contract with Atco.

Sensex trades 35 points higher; Infosys, Wipro gain
Posted on 17th July 2014
Mumbai: The 30-share bellwether BSE Sensex on Thursday was trading 35 points higher, led by shares of consumer durables and technology companies.

At 9.41am, Sensex was trading higher by 0.15%, or 38.53 points, at 25,588.25 points, while the National Stock Exchange’s broader barometer 50-share Nifty was trading up 0.19%, or 14.40 points, at 7,638.80 points.

IT shares gain post Infosys June quarter results
Posted on 11th July 2014
Shares of information technology (IT) companies are trading higher in the range of 1-4% on the National Stock Exchange (NSE) after Infosys reported a better-than-expected consolidated net profit for the first quarter ended June 30, 2014 (Q1).

All four large-cap IT stocks - Infosys, Tata Consultancy Services (TCS), HCL Technologies and Wipro are up in the range of 1-2%. Rolta, Tech Mahindra, KPIT Cummins, NIIT Technologies and Hexaware Technologies are up 2-4% on NSE.

Wipro, Infosys hunt for non-founder members to build 'next generation' boards
Posted on 7th July 2014
BANGALORE: The hunt is on at two of India's biggest software companies — Infosys2.28 % and Wipro 0.89 % — for tech visionaries and corporate leaders who can join their boards and reinvigorate them after the exit of several old-timers and co-founders later this year.

While the board of Bangalore-based Infosys will be made up of non-founders for the first time in history, cross-town rival Wipro too is looking to replace at least three of its directors who are set to retire in a few months.

Three independent directors resign from Wipro board
Posted on 27th June 2014
Bangalore: Wipro Ltd independent director Henning Kagermann has resigned from the company’s board to comply with regulatory requirements in Germany, while two other directors have decided not to seek re-election.

B.C. Prabhakar and Shyam Saran, who joined the board of India’s third-largest software services firm in 1997 and 2010 respectively, will cease to be board members at Wipro, effective 23 July, Wipro said in a statement on Thursday.

IT stocks rise on positive read-through from Accenture results
Posted on 27th June 2014
Indian software companies gain as a better-than-expected rise in quarterly revenue by Accenture Plc sparks hopes of a robust demand environment, dealers say.

Tata Consultancy Services Ltd up 2.7%, Infosys gains 1.4%, Wipro up 1.9%, HCL Technologies rises 3.3% and Tech Mahindra surges 2.3%.

Nifty hovers around 7,500; defensives gain
Posted on 27th June 2014
Markets have come off morning highs as weakness in counters like ICICI Bank, Bharti Airtel and M&M weighed on the indices. At 1130 hrs, the Sensex was up 80 points at 25,143 and the Nifty was up 22 points to trade at 7,514.

In the broader markets, the smallcap index surged 0.6% and the midcap index was up 0.4%, both outperforming the Sensex which was up 0.3%.

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