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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.

Wipro takes over Australia’s Syfte design consulting team
Posted on 11th December 2018
IT firm Wipro Tuesday said it has taken over the strategic design consulting team at Syfte, an Australian agency that uses design thinking to solve client challenges. Syfte’s team of designers will be absorbed within Designit — one of Wipro’s strategic arms — further strengthening its design and innovation capabilities, Wipro said in a statement.

Wipro aims to make $150 million from intellectual property this FY
Posted on 1st December 2018
BENGALURU: Wipro has set a target of $150 million in revenue from its intellectual property (IP) in this financial year, said people aware of the matter. Last year, the Bengaluru-headquartered software services company had clocked a revenue of about $80 million from IP-led business, in keeping with chief executive Abidali Neemuchwala’s strategy to extract more value from the segment, said a person with direct knowledge of the IP business.

Wipro appoints ex-IBM Bill Stith as healthcare head
Posted on 20th November 2018
New Delhi: Wipro Ltd has appointed former International Business Machines Corp. (IBM) executive Bill Stith to revive the fortunes of the Bengaluru-based company’s healthcare and life sciences division. Stith, who headed IBM’s healthcare and life sciences business in the US, is the third top external hire by chief executive officer Abidali Neemuchwala. His hiring is also Wipro’s third top-level management change in 2018.

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