IT czar Azim Premji-led PremjiInvest picked up a 6% stake in Future Retail from Bharti Group for about Rs 1,700 crore, in a block deal on Thursday. “Mittal family which held 9% stake in Future Retail, has sold 6% stake to PremjiInvest. PremjiInvest is one of the larger investors in consumer space in India. They are also investors with us in Future Lifestyle Fashion,” Kishore Biyani, the founder and chief executive officer of Future Group told in an interview to CNBC TV18, adding that the total transaction value is about Rs 1,700 crore.

BENGALURU: Wipro has given a 6-7% average increment to its employees for the year beginning June, according to a person familiar with the matter. This is similar to that given by larger rivals TCS and Infosys, but significantly better than Capgemini's 0.5-1%, which earned the French company much ridicule.

Indian IT services giant Wipro is "localising more" in the US and more than half of its workforce in the country now consists of locals, the company's Chief Strategy Officer Rishad Premji said asserting that the firm is very committed to the US market.

Premji, who is Member of the Board at Wipro, said Wipro currently has a workforce of over 14,000 employees in the US and 58 % of those are locals.

Looking to capture the West India market, fast-moving consumer goods-major Wipro Consumer Care and Lighting has launched its liquid-based dish wash in Maharashtra, the largest market for dishwashing liquids in India.

The company plans to launch the product, Giffy, pan India in the months to come to capture the liquid dish wash market which is estimated to be Rs 4 billion.

BENGALURU: Wipro Consumer Care and Lighting (WCCL), part of the unlisted entity Wipro Enterprises, has entered the $1-billion-dollar revenue club. The company did Rs 6,630 crore, or just about $1 billion, in 2017-18. That’s a growth of 10% from last year, when it did $908 million.

Wipro continues to under perform our revenue growth and margin expectations due to portfolio-specific issues that we think are likely to play out in Q119 as well. We believe this warrants a P/E multiple below peers; maintain underweight (UW).

Wipro reported revenue of $2,062 million (MSe $2,072 million). Revenue growth in constant-currency terms was 1.1% q-o-q (MSe 1.8% qoq).

Bengaluru: Wipro has ceded ground to HCL Technologies as the third biggest IT services exporter in terms of market capitalization, and the chasm between the two is getting bigger. That’s not good news for a company that was part of the troika – alongside TCS and Infosys – that helped make a name for India in the global outsourcing map.

Wipro share price target: Following weak Q4 results reported by India’s third largest software services exporter, brokerages have reduced Wipro share price target. The Bengaluru-headquartered company has reported a 20/3% drop in net profit to Rs 1,803 crore in the three months ended 31 March, missing street estimates. Analysts had expected the company to post a profit of Rs 2,132 crore, according to Thomson Reuters data.

Wipro on Wednesday posted over 20 per cent decline in its consolidated profit to Rs 18 billion for the March quarter, 2017-18.

The country's third-largest software services firm had registered a profit of Rs 22.67 billion in the year-ago period, as per Indian accounting norms.

Mumbai: Wipro Consumer Care and Lighting is scouting for personal and home care acquisitions in the Middle East, Indonesia, Vietnam, China and India, chief executive officer Vineet Agrawal said.

The consumer care unit of Wipro Ltd making Santoor soaps and Yardley fragrances started as an oil crushing unity in the 1940s, and now earns more than half of its revenues from international operations.

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