Wipro, India's third-largest IT services company, on Thursday posted a profit of Rs 2,118 crore that was largely in line with expectations for the June 2014 quarter, but the surprise came from a stronger guidance for its IT services business on the back of healthy order booking and demand from key geographies.

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.

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, 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.

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.

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.

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.

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.

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.

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%.

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