Wipro (Wipro) missed expectations on revenue/margins in Q4 and disappointed on 1QFY17F CC revenue growth guidance of 1-3% q-o-q (vs consensus of 2.4-4.4%), which implies -1% to +1% organic growth (ex HPS acquisition contribution).

The results reinforce our caution on growth/margins at Wipro in light of: its weaker positioning in developed markets (US/Europe), the well-entrenched competition in key growth segments (BFSI, IMS and BPO), limited progress of client mining initiatives; and a likely margin drag as Wipro competes to close growth gaps with peers.

The board of directors of Wipro has approved the proposal to buy back shares worth `2,500 crore from the investors on Wednesday. Wipro plans to buy back four crore shares at `652 apiece, the company said in a stock exchange filing. The buyback price is 7.8% premium to its closing price on Wednesday. Wipro shares gained a little more than 2% during Wednesday’s trade to close at `601.35 apiece on BSE.

Wipro has moved higher by 3% to Rs 607 on the BSE ahead of January-March (Q4) quarter results later today. The board will also consider a proposal for buyback of equity shares of the company.

The stock is currently trading close to its 52-week high of Rs 613 touched on October 1, 2015 during intra-day trade.

Wipro has gained 4% to Rs 592 on the BSE in early morning trade after India's third largest software exporter announced that it will consider a proposal to buy back shares of the company on April 20.

“The board of directors will consider a proposal for buyback of equity shares of the company on April 20, 2016,” Wipro said in a BSE filing.

Wipro Ltd’s chief executive officer (CEO) Abidali Neemuchwala has set an ambitious revenue growth target of 12-14% for fiscal 2017, according to two executives familiar with the matter.

That is more than three times the growth at India’s third largest software services exporter in the current year.

Global software major Wipro on Monday announced winning a multi-year contract to develop a new IT platform for Danish energy firm NRGi's operations.

"We have won a multi-year engagement with NRGi, one of the top five utility providers in Denmark, to transform its customer relations management (CRM), billing and service bureau operations," the company said in a statement here.

ITC, Maruti Suzuki India, Tata Consultancy Services (TCS), Wipro, HDFC Bank and Cipla from the 30 share S&P BSE Sensex index hitting their respective 52-week lows after the index tanked 660 points during intra-day trade.

ACC, Ambuja Cements, Kotak Mahindra Bank, Nestle India, Thermax and Tech Mahindra are from the 73 stocks from BSE500 index touching their 52-week lows.

MUMBAI: Weeks after Abidali Neemuchwala took over as chief executive and internally laid out a vision to make Wipro a $15-billion company by 2020, India's third largest software exporter has executed one of its largest acquisitions in the last decade and bought US-based healthcare technology services firm HealthPlan Services for $460 million.

Wipro, which currently has a $800-million healthcare and life sciences business, said that the acquisition would strengthen its position in the healthcare payer sector. The transaction includes a purchase consideration of $460 million, including a deferred consideration of $20 million.

Software major Wipro today said that it has won an information technology (IT) infrastructure transformation contract from the Sweden headquartered ASSA ABLOY Group, that offers door opening solutions.

In the five-year agreement, Wipro will consolidate ASSA ABLOY's existing data centers in the EMEA region and implement a cloud-based service model which includes IaaS (Infrastructure as a Service) and PaaS (Platform as a Service), the company said.

Wipro, India’s third largest software exporter, would hire 25,000 employees in Bengaluru as part of its expansion, said chairman Azim Premji.

“We have already recruited 55,000 employees in our development centres in Bengaluru till now. We are in the process of a major expansion of our centre in Bengaluru and will add another 25,000 people,” he said, while speaking at the inaugural event of Invest Karnataka 2016, a global investors meet of Karnataka government, on Wednesday.

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