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WIPRO
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Indian IT earnings likely to stutter in fiscal 2026 on US spending woes, analysts say
By Haripriya Suresh and Bharath Rajeswaran
BENGALURU, March 21 (Reuters) - India's information technology companies, among the worst-performing sectors this year, may not see a recovery in fiscal 2026, analysts said, after Accenture ACN.N flagged weak discretionary spending and demand in its quarterly report.
Accenture, the world's largest IT services player and a bellwether for the Indian IT industry, warned on Thursday that spending on discretionary projects in the quarter "was still constrained" and flagged no meaningful increase in client budgets.
Escalating global trade tensions following fresh U.S. tariffs on trading partners has sparked concerns over a slowdown in the United States - a key market for Indian IT companies.
"Whatever has happened in the last two months has created a higher level of uncertainty in terms of how the first half of fiscal 2026 will pan out and what impact it will have on the FY26 recovery rate," Amit Chandra, deputy vice president at HDFC Securities, told Reuters.
India's IT index is currently down 15.3% so far this year and is set for its worst quarter since June 2022. Top firms such as TCS TCS.NS, Wipro WIPR.NS, Infosys INFY.NS and HCLTech HCLT.NS lost between 11.2% and 18.1% this year.
Analysts at Kotak Institutional Equities said softening demand recovery and weak mega deal flow in fiscal 2025 will result in lower incremental revenue from mega deals in fiscal 2026 for Indian Tier-1 IT. "Companies will also face net headwinds from early stages of gen AI adoption," they said.
Citi Research has estimated that IT companies in its coverage could see revenue growth of 4% in fiscal 2026, similar to fiscal 2025, while Morgan Stanley expects growth assumption to be hurt due to subdued client spending.
According to Chandra, while banking, financial services, and insurance (BFSI) and healthcare verticals showed signs of recovery, the last two months' uncertainty has meant that clients across sectors are "going into a wait-and-watch mode", and can likely curtail spends.
Accenture also largely flagged delays and cancellations of new contracts in the U.S. due to the Trump administration's moves. However, while "Indian IT has limited exposure," according to Citi analysts, this can "increase competitive intensity in other segments".
Performance of India's IT companies in 2025 so far https://reut.rs/4kNRylg
India's IT index eyes worst quarterly performance in nearly three years https://reut.rs/4kMMrSg
Brokerages' estimates of organic revenue growth in Indian IT companies https://reut.rs/426FsLx
Summary of brokerages' view on India's Nifty IT stocks https://reut.rs/4iBRV0e
(Reporting by Haripriya Suresh and Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman)
(([email protected];))
By Haripriya Suresh and Bharath Rajeswaran
BENGALURU, March 21 (Reuters) - India's information technology companies, among the worst-performing sectors this year, may not see a recovery in fiscal 2026, analysts said, after Accenture ACN.N flagged weak discretionary spending and demand in its quarterly report.
Accenture, the world's largest IT services player and a bellwether for the Indian IT industry, warned on Thursday that spending on discretionary projects in the quarter "was still constrained" and flagged no meaningful increase in client budgets.
Escalating global trade tensions following fresh U.S. tariffs on trading partners has sparked concerns over a slowdown in the United States - a key market for Indian IT companies.
"Whatever has happened in the last two months has created a higher level of uncertainty in terms of how the first half of fiscal 2026 will pan out and what impact it will have on the FY26 recovery rate," Amit Chandra, deputy vice president at HDFC Securities, told Reuters.
India's IT index is currently down 15.3% so far this year and is set for its worst quarter since June 2022. Top firms such as TCS TCS.NS, Wipro WIPR.NS, Infosys INFY.NS and HCLTech HCLT.NS lost between 11.2% and 18.1% this year.
Analysts at Kotak Institutional Equities said softening demand recovery and weak mega deal flow in fiscal 2025 will result in lower incremental revenue from mega deals in fiscal 2026 for Indian Tier-1 IT. "Companies will also face net headwinds from early stages of gen AI adoption," they said.
Citi Research has estimated that IT companies in its coverage could see revenue growth of 4% in fiscal 2026, similar to fiscal 2025, while Morgan Stanley expects growth assumption to be hurt due to subdued client spending.
According to Chandra, while banking, financial services, and insurance (BFSI) and healthcare verticals showed signs of recovery, the last two months' uncertainty has meant that clients across sectors are "going into a wait-and-watch mode", and can likely curtail spends.
Accenture also largely flagged delays and cancellations of new contracts in the U.S. due to the Trump administration's moves. However, while "Indian IT has limited exposure," according to Citi analysts, this can "increase competitive intensity in other segments".
Performance of India's IT companies in 2025 so far https://reut.rs/4kNRylg
India's IT index eyes worst quarterly performance in nearly three years https://reut.rs/4kMMrSg
Brokerages' estimates of organic revenue growth in Indian IT companies https://reut.rs/426FsLx
Summary of brokerages' view on India's Nifty IT stocks https://reut.rs/4iBRV0e
(Reporting by Haripriya Suresh and Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman)
(([email protected];))
Wipro Announces New Agentic AI Services For Global Deployment
March 19 (Reuters) - Wipro Ltd WIPR.NS:
ANNOUNCES NEW AGENTIC AI SERVICES FOR GLOBAL DEPLOYMENT
AI SERVICES POWERED BY WEGA STUDIO AND NVIDIA AI
WIPRO BRINGS SOVEREIGN AI SERVICES WITH NVIDIA AI TO GOVERNMENTS AND ENTERPRISES AROUND WORLD
Source text: ID:nBSE3BgGz9
Further company coverage: WIPR.NS
(([email protected];;))
March 19 (Reuters) - Wipro Ltd WIPR.NS:
ANNOUNCES NEW AGENTIC AI SERVICES FOR GLOBAL DEPLOYMENT
AI SERVICES POWERED BY WEGA STUDIO AND NVIDIA AI
WIPRO BRINGS SOVEREIGN AI SERVICES WITH NVIDIA AI TO GOVERNMENTS AND ENTERPRISES AROUND WORLD
Source text: ID:nBSE3BgGz9
Further company coverage: WIPR.NS
(([email protected];;))
Wipro Realigns Business Lines To Augment Go-To-Market Capabilities
March 14 (Reuters) - Wipro Ltd WIPR.NS:
WIPRO - WIPRO REALIGNS BUSINESS LINES TO AUGMENT GO-TO-MARKET CAPABILITIES
WIPRO LTD - REALIGNMENT EFFECTIVE FROM APRIL 1, 2025
WIPRO - WIPRO WILL CONTINUE TO OPERATE WITH FOUR GBLS, ORGANIZED AROUND CLIENT BUYING BEHAVIOR
Source text: ID:nBSE9mxYwr
Further company coverage: WIPR.NS
(([email protected];))
March 14 (Reuters) - Wipro Ltd WIPR.NS:
WIPRO - WIPRO REALIGNS BUSINESS LINES TO AUGMENT GO-TO-MARKET CAPABILITIES
WIPRO LTD - REALIGNMENT EFFECTIVE FROM APRIL 1, 2025
WIPRO - WIPRO WILL CONTINUE TO OPERATE WITH FOUR GBLS, ORGANIZED AROUND CLIENT BUYING BEHAVIOR
Source text: ID:nBSE9mxYwr
Further company coverage: WIPR.NS
(([email protected];))
ColorTokens Partners With Wipro
March 13 (Reuters) - ColorTokens:
COLORTOKENS - PARTNERS WITH WIPRO
Source text: ID:nPn73K2F9a
(([email protected];))
March 13 (Reuters) - ColorTokens:
COLORTOKENS - PARTNERS WITH WIPRO
Source text: ID:nPn73K2F9a
(([email protected];))
Wipro Commits $200 Million To Wipro Ventures
Feb 26 (Reuters) - Wipro Ltd WIPR.NS:
WIPRO LTD - COMMITS $200 MILLION TO WIPRO VENTURES
Source text: ID:nNSE4fgk6q
Further company coverage: WIPR.NS
(([email protected];;))
Feb 26 (Reuters) - Wipro Ltd WIPR.NS:
WIPRO LTD - COMMITS $200 MILLION TO WIPRO VENTURES
Source text: ID:nNSE4fgk6q
Further company coverage: WIPR.NS
(([email protected];;))
Indian tech sector growth seen higher in FY25, to cross $300 billion in FY26, Nasscom says
Adds details
By Sai Ishwarbharath B and Haripriya Suresh
MUMBAI, Feb 24 (Reuters) - India's technology sector is expected to grow at a higher pace this fiscal year, driven by engineering research and development and the rising number of global capacity centres (GCC), or low-cost offshore hubs, industry body Nasscom said on Monday.
Nasscom expects the industry's revenue will grow 5.1% to $282.6 billion in fiscal 2025, compared with the previous fiscal's 4%, with revenue crossing $300 billion in fiscal 2026.
Software exports, comprising services and sale of products to clients, are expected to grow 4.6% to $224.4 billion in fiscal year 2025, the industry body said.
The sector is expected to add 126,000 jobs on a net basis, taking the total workforce to 5.8 million in fiscal year 2025, it added.
The industry's total headcount rose to 5.67 million in fiscal 2024 from 5.58 million a year earlier.
"Enhanced artificial intelligence implementation, the rise of Agentic AI, and the growing maturity of GCCs as value hubs are reshaping industry dynamics," said Sindhu Gangadharan, Chairperson, Nasscom.
Top Indian IT service providers such as Tata Consultancy Services TCS.NS, Infosys INFY.NS and HCLTech < HCLT.NS> have highlighted early signs of discretionary spending picking up and an improvement in the demand environment after a tepid 2024, in which growth nearly halved as clients held back spending and delayed decision making.
Agentic AI is considered the next frontier in artificial intelligence, allowing the system to operate autonomously and perform tasks on behalf of users through 'AI agents'.
AI's emergence has threatened to disrupt business models for Indian IT companies that largely serve clients in the United States for operations support, providing software as a service.
"The intersection of technology, geopolitics, and trade demands a bold response and enterprises must prioritise workforce tech transformation, build digital trust, and foster resilience to drive sustainable growth," Gangadharan said.
(Writing by Sethuraman NR; Editing by Janane Venkatraman)
(([email protected];))
Adds details
By Sai Ishwarbharath B and Haripriya Suresh
MUMBAI, Feb 24 (Reuters) - India's technology sector is expected to grow at a higher pace this fiscal year, driven by engineering research and development and the rising number of global capacity centres (GCC), or low-cost offshore hubs, industry body Nasscom said on Monday.
Nasscom expects the industry's revenue will grow 5.1% to $282.6 billion in fiscal 2025, compared with the previous fiscal's 4%, with revenue crossing $300 billion in fiscal 2026.
Software exports, comprising services and sale of products to clients, are expected to grow 4.6% to $224.4 billion in fiscal year 2025, the industry body said.
The sector is expected to add 126,000 jobs on a net basis, taking the total workforce to 5.8 million in fiscal year 2025, it added.
The industry's total headcount rose to 5.67 million in fiscal 2024 from 5.58 million a year earlier.
"Enhanced artificial intelligence implementation, the rise of Agentic AI, and the growing maturity of GCCs as value hubs are reshaping industry dynamics," said Sindhu Gangadharan, Chairperson, Nasscom.
Top Indian IT service providers such as Tata Consultancy Services TCS.NS, Infosys INFY.NS and HCLTech < HCLT.NS> have highlighted early signs of discretionary spending picking up and an improvement in the demand environment after a tepid 2024, in which growth nearly halved as clients held back spending and delayed decision making.
Agentic AI is considered the next frontier in artificial intelligence, allowing the system to operate autonomously and perform tasks on behalf of users through 'AI agents'.
AI's emergence has threatened to disrupt business models for Indian IT companies that largely serve clients in the United States for operations support, providing software as a service.
"The intersection of technology, geopolitics, and trade demands a bold response and enterprises must prioritise workforce tech transformation, build digital trust, and foster resilience to drive sustainable growth," Gangadharan said.
(Writing by Sethuraman NR; Editing by Janane Venkatraman)
(([email protected];))
ITCONS e-Solutions Secures Work Order Worth 6.4 Mln Rupees From Wipro For Manpower Services
Feb 20 (Reuters) - ITCONS e-Solutions Ltd ITCO.BO:
SECURES WORK ORDER WORTH 6.4 MILLION RUPEES FROM WIPRO FOR MANPOWER SERVICES
Source text: ID:nBSEbnR2SG
Further company coverage: ITCO.BO
(([email protected];;))
Feb 20 (Reuters) - ITCONS e-Solutions Ltd ITCO.BO:
SECURES WORK ORDER WORTH 6.4 MILLION RUPEES FROM WIPRO FOR MANPOWER SERVICES
Source text: ID:nBSEbnR2SG
Further company coverage: ITCO.BO
(([email protected];;))
Cognizant forecasts 2025 revenue below estimates as businesses temper IT spending
Adds details, executive comment in paragraph 3,4
Feb 5 (Reuters) - Cognizant Technology Solutions CTSH.O forecast annual revenue below estimates on Wednesday, as uncertainty about the path of future interest rate cuts forces companies to temper spending on IT services and consultancy.
Persistent high capital costs continue to strain IT spending, prompting enterprises to rethink spending on consultancy services while prioritizing investments in AI-related projects.
Still, an increase in spending by clients in the financial services sector helped Cognizant win more large deals in the fourth quarter than a year earlier, powering its quarterly revenue above Wall Street expectations.
"In North America, we are seeing an improved pipeline of opportunities for transformation and modernization projects across both insurance and select ADRs of banking and financial services clients," finance chief Jatin Dalal said.
The company's fourth-quarter revenue stood at $5.08 billion, compared to analysts' expectations of $5.07 billion, according to data compiled by LSEG.
Cognizant's adjusted profit came in at $1.21 per share in the quarter ended December 31, compared with analysts' average estimate of $1.12 per share.
The New Jersey-based company said it expects first-quarter revenue in the range of $5 billion to $5.1 billion, compared with analysts' average estimate of $5.06 billion.
Cognizant expects its 2025 revenue to be between $20.30 billion and $20.80 billion, lower than estimates of $20.89 billion compiled by LSEG.
It projected 2025 adjusted earnings between $4.90 per share and $5.06 per share. The midpoint of the forecast is $4.98 per share, compared with analysts' average estimate of $4.99 per share.
(Reporting by Priyanka.G and Akash Sriram in Bengaluru; Editing by Mohammed Safi Shamsi)
(([email protected];))
Adds details, executive comment in paragraph 3,4
Feb 5 (Reuters) - Cognizant Technology Solutions CTSH.O forecast annual revenue below estimates on Wednesday, as uncertainty about the path of future interest rate cuts forces companies to temper spending on IT services and consultancy.
Persistent high capital costs continue to strain IT spending, prompting enterprises to rethink spending on consultancy services while prioritizing investments in AI-related projects.
Still, an increase in spending by clients in the financial services sector helped Cognizant win more large deals in the fourth quarter than a year earlier, powering its quarterly revenue above Wall Street expectations.
"In North America, we are seeing an improved pipeline of opportunities for transformation and modernization projects across both insurance and select ADRs of banking and financial services clients," finance chief Jatin Dalal said.
The company's fourth-quarter revenue stood at $5.08 billion, compared to analysts' expectations of $5.07 billion, according to data compiled by LSEG.
Cognizant's adjusted profit came in at $1.21 per share in the quarter ended December 31, compared with analysts' average estimate of $1.12 per share.
The New Jersey-based company said it expects first-quarter revenue in the range of $5 billion to $5.1 billion, compared with analysts' average estimate of $5.06 billion.
Cognizant expects its 2025 revenue to be between $20.30 billion and $20.80 billion, lower than estimates of $20.89 billion compiled by LSEG.
It projected 2025 adjusted earnings between $4.90 per share and $5.06 per share. The midpoint of the forecast is $4.98 per share, compared with analysts' average estimate of $4.99 per share.
(Reporting by Priyanka.G and Akash Sriram in Bengaluru; Editing by Mohammed Safi Shamsi)
(([email protected];))
Cognizant forecasts 2025 revenue below estimates as businesses temper IT spending
Feb 5 (Reuters) - Cognizant Technology Solutions CTSH.O forecast annual revenue below estimates on Wednesday, as uncertainty about the path of future interest rate cuts forces companies to temper spending on IT services and consultancy.
Persistent high capital costs continue to strain IT spending, prompting enterprises to cut back on consultancy services while prioritizing investments in AI-related projects.
Cognizant's shares fell 1.2% in extended trading.
Uncertainty around rate cuts by the U.S. Federal Reserve this year is exacerbated by President Donald Trump's changes to immigration policies, tariffs and other initiatives, forcing companies to limit spending.
The company's fourth-quarter revenue stood at $5.08 billion, compared to analysts' expectations of $5.07 billion, according to data compiled by LSEG.
Cognizant's adjusted profit came in at $1.21 per share in the quarter ended December 31, compared with estimates of $1.12 per share.
The New Jersey-based company expects first-quarter revenue in the range of $5 billion to $5.1 billion, compared to analysts' estimates of $5.06 billion.
Cognizant expects its 2025 revenue to be between $20.3 billion and $20.8 billion, lower than estimates of $20.89 billion.
It projected 2025 adjusted earnings between $4.90 per share and $5.06 per share. The midpoint of the forecast is $4.98 per share, compared with estimates of $4.99 per share.
(Reporting by Priyanka.G and Akash Sriram in Bengaluru; Editing by Mohammed Safi Shamsi)
(([email protected];))
Feb 5 (Reuters) - Cognizant Technology Solutions CTSH.O forecast annual revenue below estimates on Wednesday, as uncertainty about the path of future interest rate cuts forces companies to temper spending on IT services and consultancy.
Persistent high capital costs continue to strain IT spending, prompting enterprises to cut back on consultancy services while prioritizing investments in AI-related projects.
Cognizant's shares fell 1.2% in extended trading.
Uncertainty around rate cuts by the U.S. Federal Reserve this year is exacerbated by President Donald Trump's changes to immigration policies, tariffs and other initiatives, forcing companies to limit spending.
The company's fourth-quarter revenue stood at $5.08 billion, compared to analysts' expectations of $5.07 billion, according to data compiled by LSEG.
Cognizant's adjusted profit came in at $1.21 per share in the quarter ended December 31, compared with estimates of $1.12 per share.
The New Jersey-based company expects first-quarter revenue in the range of $5 billion to $5.1 billion, compared to analysts' estimates of $5.06 billion.
Cognizant expects its 2025 revenue to be between $20.3 billion and $20.8 billion, lower than estimates of $20.89 billion.
It projected 2025 adjusted earnings between $4.90 per share and $5.06 per share. The midpoint of the forecast is $4.98 per share, compared with estimates of $4.99 per share.
(Reporting by Priyanka.G and Akash Sriram in Bengaluru; Editing by Mohammed Safi Shamsi)
(([email protected];))
Wipro Says Transaction For Applied Value Technologies Now Expected To Complete By March 31, 2025
Jan 30 (Reuters) - Wipro Ltd WIPR.NS:
TRANSACTION FOR APPLIED VALUE TECHNOLOGIES NOW EXPECTED TO COMPLETE BY MARCH 31, 2025
Source text: [ID:]
Further company coverage: WIPR.NS
(([email protected];;))
Jan 30 (Reuters) - Wipro Ltd WIPR.NS:
TRANSACTION FOR APPLIED VALUE TECHNOLOGIES NOW EXPECTED TO COMPLETE BY MARCH 31, 2025
Source text: [ID:]
Further company coverage: WIPR.NS
(([email protected];;))
Wipro Says Unit Designit Sweden AB Voluntarily Liquidated
Jan 28 (Reuters) - Wipro Ltd WIPR.NS:
UNIT DESIGNIT SWEDEN AB VOLUNTARILY LIQUIDATED
Source text: [ID:]
Further company coverage: WIPR.NS
(([email protected];;))
Jan 28 (Reuters) - Wipro Ltd WIPR.NS:
UNIT DESIGNIT SWEDEN AB VOLUNTARILY LIQUIDATED
Source text: [ID:]
Further company coverage: WIPR.NS
(([email protected];;))
Wipro Says Step-Down Subsidiary Designit Sweden AB Voluntarily Liquidated
Jan 23 (Reuters) - Wipro Ltd WIPR.NS:
STEP-DOWN SUBSIDIARY DESIGNIT SWEDEN AB VOLUNTARILY LIQUIDATED
Source text: ID:nNSE9Ht3qc
Further company coverage: WIPR.NS
(([email protected];;))
Jan 23 (Reuters) - Wipro Ltd WIPR.NS:
STEP-DOWN SUBSIDIARY DESIGNIT SWEDEN AB VOLUNTARILY LIQUIDATED
Source text: ID:nNSE9Ht3qc
Further company coverage: WIPR.NS
(([email protected];;))
INDIA STOCKS-Indian shares open higher, led by Kotak Mahindra Bank and Wipro
Updates for markets open
Jan 20 (Reuters) - Indian shares opened higher on Monday as Kotak Mahindra Bank's results boosted private banks and Wipro's better-than-expected quarterly profit helped lift IT stocks.
The Nifty 50 .NSEI rose 0.38% to 23,290.4 points as of 9:16 a.m. IST, while the BSE Sensex .BSESN added 0.47% to 76,978.53.
The broader, more domestically focussed smallcaps .NIFSMCP100 and midcaps .NIFMDCP100 rose 0.3% and 0.6%, respectively.
All the 13 major sectors advanced at the open. The private bank index .NIFPVTBNK rose 1.1%, while IT stocks .NIFTYIT rose 0.5%.
Kotak Mahindra Bank KTKM.NS jumped 7.5% after reporting a 10% rise in quarterly profit, helped by higher lending income.
Wipro WIPR.NS surged 7% after beating third-quarter estimates for revenue and profit.
Kotak and Wipro were the top gainers on Nifty 50.
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sherry Jacob-Phillips and Savio D'Souza)
(([email protected]; +91 9769003463;))
Updates for markets open
Jan 20 (Reuters) - Indian shares opened higher on Monday as Kotak Mahindra Bank's results boosted private banks and Wipro's better-than-expected quarterly profit helped lift IT stocks.
The Nifty 50 .NSEI rose 0.38% to 23,290.4 points as of 9:16 a.m. IST, while the BSE Sensex .BSESN added 0.47% to 76,978.53.
The broader, more domestically focussed smallcaps .NIFSMCP100 and midcaps .NIFMDCP100 rose 0.3% and 0.6%, respectively.
All the 13 major sectors advanced at the open. The private bank index .NIFPVTBNK rose 1.1%, while IT stocks .NIFTYIT rose 0.5%.
Kotak Mahindra Bank KTKM.NS jumped 7.5% after reporting a 10% rise in quarterly profit, helped by higher lending income.
Wipro WIPR.NS surged 7% after beating third-quarter estimates for revenue and profit.
Kotak and Wipro were the top gainers on Nifty 50.
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sherry Jacob-Phillips and Savio D'Souza)
(([email protected]; +91 9769003463;))
Wipro Q3 Consol Rev From Ops 223.19 Bln Rupees; IBES Est. 222.28 Bln Rupees
Jan 17 (Reuters) - Wipro Ltd WIPR.NS:
WIPRO - DIVIDEND 6 RUPEES PER SHARE
WIPRO Q3 CONSOL NET PROFIT 33.54 BLN RUPEES; IBES EST. 30.71 BLN RUPEES
WIPRO Q3 CONSOL REV FROM OPS 223.19 BLN RUPEES; IBES EST. 222.28 BLN RUPEES
Further company coverage: WIPR.NS
(([email protected];))
Jan 17 (Reuters) - Wipro Ltd WIPR.NS:
WIPRO - DIVIDEND 6 RUPEES PER SHARE
WIPRO Q3 CONSOL NET PROFIT 33.54 BLN RUPEES; IBES EST. 30.71 BLN RUPEES
WIPRO Q3 CONSOL REV FROM OPS 223.19 BLN RUPEES; IBES EST. 222.28 BLN RUPEES
Further company coverage: WIPR.NS
(([email protected];))
Wipro Ltd expected to post earnings of 3 cents a share - Earnings Preview
Wipro Ltd WIT.N, WIT is expected to show a fall in quarterly revenue when it reports results on January 17 for the period ending December 31 2024
The Bangalore Karnataka-based company is expected to report a 1.8% decrease in revenue to $2.62 billion from $2.67 billion a year ago, according to the estimate from one analyst, based on LSEG data.
LSEG's mean analyst estimate for Wipro Ltd is for earnings of 3 cents per share.
The current average analyst rating on the shares is "sell" and the breakdown of recommendations is no "strong buy" or "buy," 3 "hold" and 5 "sell" or "strong sell."
The mean earnings estimate of analysts was unchanged in the last three months.
Wall Street's median 12-month price target for Wipro Ltd is $2.90, below its last closing price of $3.40.
Previous quarterly performance (using preferred earnings measure in US dollars).
QUARTER ENDING | STARMINESMARTESTIMATE® | LSEG IBES ESTIMATE | ACTUAL | BEAT, MET, MISSED | SURPRISE % |
Sep. 30 2024 | 0.03 | 0.03 | 0.04 | Beat | 4.9 |
Jun. 30 2024 | 0.03 | 0.03 | 0.04 | Beat | 3.7 |
Mar. 31 2024 | 0.03 | 0.03 | 0.03 | Met | -2.1 |
Dec. 31 2023 | 0.03 | 0.03 | 0.03 | Met | -8.3 |
Sep. 30 2023 | 0.03 | 0.03 | 0.03 | Met | -11.7 |
Jun. 30 2023 | 0.03 | 0.03 | 0.03 | Met | -10.8 |
Mar. 31 2023 | 0.04 | 0.04 | Met | 0 | |
Dec. 31 2022 | 0.04 | 0.04 | 0.04 | Met | 0 |
This summary was machine generated January 15 at 10:32 GMT. All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact [email protected])
Wipro Ltd WIT.N, WIT is expected to show a fall in quarterly revenue when it reports results on January 17 for the period ending December 31 2024
The Bangalore Karnataka-based company is expected to report a 1.8% decrease in revenue to $2.62 billion from $2.67 billion a year ago, according to the estimate from one analyst, based on LSEG data.
LSEG's mean analyst estimate for Wipro Ltd is for earnings of 3 cents per share.
The current average analyst rating on the shares is "sell" and the breakdown of recommendations is no "strong buy" or "buy," 3 "hold" and 5 "sell" or "strong sell."
The mean earnings estimate of analysts was unchanged in the last three months.
Wall Street's median 12-month price target for Wipro Ltd is $2.90, below its last closing price of $3.40.
Previous quarterly performance (using preferred earnings measure in US dollars).
QUARTER ENDING | STARMINESMARTESTIMATE® | LSEG IBES ESTIMATE | ACTUAL | BEAT, MET, MISSED | SURPRISE % |
Sep. 30 2024 | 0.03 | 0.03 | 0.04 | Beat | 4.9 |
Jun. 30 2024 | 0.03 | 0.03 | 0.04 | Beat | 3.7 |
Mar. 31 2024 | 0.03 | 0.03 | 0.03 | Met | -2.1 |
Dec. 31 2023 | 0.03 | 0.03 | 0.03 | Met | -8.3 |
Sep. 30 2023 | 0.03 | 0.03 | 0.03 | Met | -11.7 |
Jun. 30 2023 | 0.03 | 0.03 | 0.03 | Met | -10.8 |
Mar. 31 2023 | 0.04 | 0.04 | Met | 0 | |
Dec. 31 2022 | 0.04 | 0.04 | 0.04 | Met | 0 |
This summary was machine generated January 15 at 10:32 GMT. All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact [email protected])
India's TCS counts on Trump to boost US client spending
Q3 net profit 123.80 bln rupees vs forecast 123.99 bln
Q3 consolidated revenue 639.73 bln rupees vs forecast 644.52 bln
Order book $10.2 bln vs $8.6 bln in Q2
Recasts paragraph 1, adds CEO quotes from paragraph 3
By Sai Ishwarbharath B and Haripriya Suresh
BENGALURU/MUMBAI, Jan 9 (Reuters) - India’s No. 1 software services exporter Tata Consultancy Services (TCS) TCS.NS said on Thursday it is betting on Donald Trump's regime to revive client confidence and discretionary spending in North America.
The comments came after the leader of the $254 billion Indian IT sector reported a decline in North American revenue for the fifth-straight quarter.
“Once the new (U.S.) administration comes in, it will remove any policy uncertainty,” TCS CEO K Krithivasan said in a post-earnings press conference.
Pointing also to a higher order book, Krithivasan said: “All of this together, we see more confidence in discretionary programmes in the coming years.”
The Mumbai-based company also declared a special dividend of 66 rupees ($0.7691) per share.
Consolidated revenue at the Tata Group firm rose 5.6% to 639.73 billion rupees in the October-December quarter, but missed analysts' average estimate of 644.52 billion rupees, according to data compiled by LSEG.
TCS' quarterly net profit rose 12% to 123.80 billion rupees, against analysts' mean estimate of 123.99 billion rupees.
"Revenue growth was below expectations but the third quarter is a seasonally weak one as most clients ramp down operations due to the holiday season," said Piyush Pandey, analyst at Centrum Broking.
Pandey, however, highlighted deal wins and operating margin improvement as "positives" that may aid a turnaround in the United States in the coming quarters.
India's IT services industry has been facing a growth slowdown over the last couple of years due to clients in the U.S. and Europe cutting down on tech spending amid economic pressures.
The company's total order book stood at $10.2 billion in the quarter, compared with $8.6 billion in the previous quarter and $8.1 billion in the year-ago period.
TCS is the first major IT firm to report numbers in the current earnings cycle. Smaller rivals Infosys INFY.NS, HCLTech HCLT.NS, Wipro WIPR.NS will report next week.
The Mumbai-listed shares closed 1.7% lower ahead of the results.
($1 = 85.8420 Indian rupees)
(Reporting by Sai Ishwarbharath B. Editing by Eileen Soreng, Dhanya Skariachan and Mark Potter)
(([email protected];))
Q3 net profit 123.80 bln rupees vs forecast 123.99 bln
Q3 consolidated revenue 639.73 bln rupees vs forecast 644.52 bln
Order book $10.2 bln vs $8.6 bln in Q2
Recasts paragraph 1, adds CEO quotes from paragraph 3
By Sai Ishwarbharath B and Haripriya Suresh
BENGALURU/MUMBAI, Jan 9 (Reuters) - India’s No. 1 software services exporter Tata Consultancy Services (TCS) TCS.NS said on Thursday it is betting on Donald Trump's regime to revive client confidence and discretionary spending in North America.
The comments came after the leader of the $254 billion Indian IT sector reported a decline in North American revenue for the fifth-straight quarter.
“Once the new (U.S.) administration comes in, it will remove any policy uncertainty,” TCS CEO K Krithivasan said in a post-earnings press conference.
Pointing also to a higher order book, Krithivasan said: “All of this together, we see more confidence in discretionary programmes in the coming years.”
The Mumbai-based company also declared a special dividend of 66 rupees ($0.7691) per share.
Consolidated revenue at the Tata Group firm rose 5.6% to 639.73 billion rupees in the October-December quarter, but missed analysts' average estimate of 644.52 billion rupees, according to data compiled by LSEG.
TCS' quarterly net profit rose 12% to 123.80 billion rupees, against analysts' mean estimate of 123.99 billion rupees.
"Revenue growth was below expectations but the third quarter is a seasonally weak one as most clients ramp down operations due to the holiday season," said Piyush Pandey, analyst at Centrum Broking.
Pandey, however, highlighted deal wins and operating margin improvement as "positives" that may aid a turnaround in the United States in the coming quarters.
India's IT services industry has been facing a growth slowdown over the last couple of years due to clients in the U.S. and Europe cutting down on tech spending amid economic pressures.
The company's total order book stood at $10.2 billion in the quarter, compared with $8.6 billion in the previous quarter and $8.1 billion in the year-ago period.
TCS is the first major IT firm to report numbers in the current earnings cycle. Smaller rivals Infosys INFY.NS, HCLTech HCLT.NS, Wipro WIPR.NS will report next week.
The Mumbai-listed shares closed 1.7% lower ahead of the results.
($1 = 85.8420 Indian rupees)
(Reporting by Sai Ishwarbharath B. Editing by Eileen Soreng, Dhanya Skariachan and Mark Potter)
(([email protected];))
Wipro Ltd expected to post earnings of 3 cents a share - Earnings Preview
Wipro Ltd WIT.N, WIT is expected to show a fall in quarterly revenue when it reports results on January 17 for the period ending December 31 2024
The Bangalore Karnataka-based company is expected to report a 1.8% decrease in revenue to $2.62 billion from $2.67 billion a year ago, according to the estimate from one analyst, based on LSEG data.
LSEG's mean analyst estimate for Wipro Ltd is for earnings of 3 cents per share.
The current average analyst rating on the shares is "sell" and the breakdown of recommendations is no "strong buy" or "buy," 3 "hold" and 5 "sell" or "strong sell."
The mean earnings estimate of analysts was unchanged in the last three months.
Wall Street's median 12-month price target for Wipro Ltd is $2.85, below its last closing price of $3.46.
Previous quarterly performance (using preferred earnings measure in US dollars).
QUARTER ENDING | STARMINESMARTESTIMATE® | LSEG IBES ESTIMATE | ACTUAL | BEAT, MET, MISSED | SURPRISE % |
Sep. 30 2024 | 0.03 | 0.03 | 0.04 | Beat | 4.9 |
Jun. 30 2024 | 0.03 | 0.03 | 0.04 | Beat | 3.7 |
Mar. 31 2024 | 0.03 | 0.03 | 0.03 | Met | -2.1 |
Dec. 31 2023 | 0.03 | 0.03 | 0.03 | Met | -8.3 |
Sep. 30 2023 | 0.03 | 0.03 | 0.03 | Met | -11.7 |
Jun. 30 2023 | 0.03 | 0.03 | 0.03 | Met | -10.8 |
Mar. 31 2023 | 0.04 | 0.04 | Met | 0 | |
Dec. 31 2022 | 0.04 | 0.04 | 0.04 | Met | 0 |
This summary was machine generated January 8 at 10:32 GMT. All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact [email protected])
Wipro Ltd WIT.N, WIT is expected to show a fall in quarterly revenue when it reports results on January 17 for the period ending December 31 2024
The Bangalore Karnataka-based company is expected to report a 1.8% decrease in revenue to $2.62 billion from $2.67 billion a year ago, according to the estimate from one analyst, based on LSEG data.
LSEG's mean analyst estimate for Wipro Ltd is for earnings of 3 cents per share.
The current average analyst rating on the shares is "sell" and the breakdown of recommendations is no "strong buy" or "buy," 3 "hold" and 5 "sell" or "strong sell."
The mean earnings estimate of analysts was unchanged in the last three months.
Wall Street's median 12-month price target for Wipro Ltd is $2.85, below its last closing price of $3.46.
Previous quarterly performance (using preferred earnings measure in US dollars).
QUARTER ENDING | STARMINESMARTESTIMATE® | LSEG IBES ESTIMATE | ACTUAL | BEAT, MET, MISSED | SURPRISE % |
Sep. 30 2024 | 0.03 | 0.03 | 0.04 | Beat | 4.9 |
Jun. 30 2024 | 0.03 | 0.03 | 0.04 | Beat | 3.7 |
Mar. 31 2024 | 0.03 | 0.03 | 0.03 | Met | -2.1 |
Dec. 31 2023 | 0.03 | 0.03 | 0.03 | Met | -8.3 |
Sep. 30 2023 | 0.03 | 0.03 | 0.03 | Met | -11.7 |
Jun. 30 2023 | 0.03 | 0.03 | 0.03 | Met | -10.8 |
Mar. 31 2023 | 0.04 | 0.04 | Met | 0 | |
Dec. 31 2022 | 0.04 | 0.04 | 0.04 | Met | 0 |
This summary was machine generated January 8 at 10:32 GMT. All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact [email protected])
India's Wipro set to be top weekly loser among Nifty 50 stocks
** Wipro WIPR.NS, India's 4th largest IT firm, down ~4.4% for the week, set for worst weekly performance among Nifty 50 .NSEI stocks
** WIPR down 2.8% at 295.30 rupees on Fri
** CLSA on Wed downgraded stock to "hold" from "outperform"
** After stock's recent outperformance, brokerage expects co's revenue growth to be weakest among large-cap IT firms
** Stock up 29.5% in last 12 months vs 27.10% gain in IT index .NIFTYIT
** Brokerage expects continued weakness in co's manufacturing and energy & utilities verticals
** Nomura expects WIPR to be weakest performer among large-cap IT stocks, at -1% Q/Q growth
** Brokerage, however, maintains "buy" rating, PT second-highest among analysts
** Stock rated "hold" on avg by 37 analysts -LSEG data
** HCL Technologies HCLT.NS set to be best weekly performer among IT stocks, up ~3.17%; CLSA, Nomura expect co to have strongest sequential rev growth
($1 = 85.7630 Indian rupees)
(Reporting by Ananta Agarwal in Bengaluru)
** Wipro WIPR.NS, India's 4th largest IT firm, down ~4.4% for the week, set for worst weekly performance among Nifty 50 .NSEI stocks
** WIPR down 2.8% at 295.30 rupees on Fri
** CLSA on Wed downgraded stock to "hold" from "outperform"
** After stock's recent outperformance, brokerage expects co's revenue growth to be weakest among large-cap IT firms
** Stock up 29.5% in last 12 months vs 27.10% gain in IT index .NIFTYIT
** Brokerage expects continued weakness in co's manufacturing and energy & utilities verticals
** Nomura expects WIPR to be weakest performer among large-cap IT stocks, at -1% Q/Q growth
** Brokerage, however, maintains "buy" rating, PT second-highest among analysts
** Stock rated "hold" on avg by 37 analysts -LSEG data
** HCL Technologies HCLT.NS set to be best weekly performer among IT stocks, up ~3.17%; CLSA, Nomura expect co to have strongest sequential rev growth
($1 = 85.7630 Indian rupees)
(Reporting by Ananta Agarwal in Bengaluru)
Wipro Says Capco Consulting Middle East FZE Incorporated As Unit
Dec 18 (Reuters) - Wipro Ltd WIPR.NS:
CAPCO CONSULTING MIDDLE EAST FZE INCORPORATED AS UNIT
Source text: [ID:]
Further company coverage: WIPR.NS
(([email protected];;))
Dec 18 (Reuters) - Wipro Ltd WIPR.NS:
CAPCO CONSULTING MIDDLE EAST FZE INCORPORATED AS UNIT
Source text: [ID:]
Further company coverage: WIPR.NS
(([email protected];;))
Wipro To Acquire 100% Shareholding In Applied Value Technologies, Affiliates
Dec 16 (Reuters) - Wipro Ltd WIPR.NS:
WIPRO -TO ACQUIRE 100% SHAREHOLDING IN APPLIED VALUE TECHNOLOGIES, AFFILIATES
WIPRO -DEAL FOR $ 40 MILLION
Source text: [ID:]
Further company coverage: WIPR.NS
(([email protected];))
Dec 16 (Reuters) - Wipro Ltd WIPR.NS:
WIPRO -TO ACQUIRE 100% SHAREHOLDING IN APPLIED VALUE TECHNOLOGIES, AFFILIATES
WIPRO -DEAL FOR $ 40 MILLION
Source text: [ID:]
Further company coverage: WIPR.NS
(([email protected];))
Wipro - Co, SIAM.AI Build AI Assistant For Tourism Authority Of Thailand With NVIDIA AI
Dec 6 (Reuters) - Wipro Ltd WIPR.NS:
WIPRO - WIPRO AND SIAM.AI BUILD AI ASSISTANT FOR TOURISM AUTHORITY OF THAILAND WITH NVIDIA AI
Further company coverage: WIPR.NS
(([email protected];))
Dec 6 (Reuters) - Wipro Ltd WIPR.NS:
WIPRO - WIPRO AND SIAM.AI BUILD AI ASSISTANT FOR TOURISM AUTHORITY OF THAILAND WITH NVIDIA AI
Further company coverage: WIPR.NS
(([email protected];))
Wipro And Netskope Partner
Dec 3 (Reuters) - Wipro Ltd WIPR.NS:
WIPRO - WIPRO AND NETSKOPE PARTNER
WIPRO - WIPRO AND NETSKOPE PARTNER TO OFFER CYBERSECURITY OPTIMIZATION ADVISORY SERVICES
Source text: [ID:]
Further company coverage: WIPR.NS
(([email protected];;))
Dec 3 (Reuters) - Wipro Ltd WIPR.NS:
WIPRO - WIPRO AND NETSKOPE PARTNER
WIPRO - WIPRO AND NETSKOPE PARTNER TO OFFER CYBERSECURITY OPTIMIZATION ADVISORY SERVICES
Source text: [ID:]
Further company coverage: WIPR.NS
(([email protected];;))
India's Wipro rises after fixing record date for bonus issue of shares
** Shares of Wipro WIPR.NS rise as much as 3% to 573.6 rupees
** Software co fixed Dec. 3 as record date for bonus issue of shares
** Co had approved issue of bonus shares in 1:1 ratio on Oct 17
** Stock set to rise for a seventh straight quarter, after gaining 48.2% in the previous six quarters
** Avg rating of 37 analysts covering the stock is "hold" and median PT is 500 rupees, ~11.7% lower than current price - LSEG data
** WIPR last up 1.7%, extending YTD gains to ~20%
(Reporting by Anuran Sadhu in Bengaluru)
(([email protected]; +91 8697274436;))
** Shares of Wipro WIPR.NS rise as much as 3% to 573.6 rupees
** Software co fixed Dec. 3 as record date for bonus issue of shares
** Co had approved issue of bonus shares in 1:1 ratio on Oct 17
** Stock set to rise for a seventh straight quarter, after gaining 48.2% in the previous six quarters
** Avg rating of 37 analysts covering the stock is "hold" and median PT is 500 rupees, ~11.7% lower than current price - LSEG data
** WIPR last up 1.7%, extending YTD gains to ~20%
(Reporting by Anuran Sadhu in Bengaluru)
(([email protected]; +91 8697274436;))
Wipro And Lineaje Collaborate
Nov 20 (Reuters) - Wipro Ltd WIPR.NS:
WIPRO - WIPRO AND LINEAJE COLLABORATE
WIPRO - CO, LINEAJE COLLABORATE TO BOOST ENTERPRISE SOFTWARE SUPPLY CHAIN SECURITY
WIPRO - TO USE LINEAJE'S OPEN-SOURCE MANAGER AND SBOM360 HUB
Source text: [ID:]
Further company coverage: WIPR.NS
(([email protected];;))
Nov 20 (Reuters) - Wipro Ltd WIPR.NS:
WIPRO - WIPRO AND LINEAJE COLLABORATE
WIPRO - CO, LINEAJE COLLABORATE TO BOOST ENTERPRISE SOFTWARE SUPPLY CHAIN SECURITY
WIPRO - TO USE LINEAJE'S OPEN-SOURCE MANAGER AND SBOM360 HUB
Source text: [ID:]
Further company coverage: WIPR.NS
(([email protected];;))
Trump's pro-business policies to benefit India's IT sector, Wipro chair says
By Haripriya Suresh and Sai Ishwarbharath B
BENGALURU, Nov 19 (Reuters) - Donald Trump's presidency in the United States is going to be "pro-business and pro-growth" and good for the tech services industry, Wipro WIPR.NS Executive Chairman Rishad Premji said at an event in the southern Indian city of Bengaluru on Tuesday.
Indian companies and investors will keep a close eye on Trump's return to the White House to assess the impact of his policies on the country's $254 billion IT services industry.
Premji said the conversation on fewer taxes and regulations during Trump's presidency could be powerful and "bodes well for the business and how customers will spend."
"The government is very pro-business and pro-growth, which helps all of our customers, which ultimately helps partners here in India and world over," he said, pointing to the potential corporate tax rate cuts and easier business regulations.
This shift in perspective comes after IT services players underwent consecutive difficult quarters of clients holding back spending, particularly on discretionary projects, due to macroeconomic concerns and inflationary pressures.
Premji noted that IT firms must remain "watchful" about inflationary pressures, particularly in regard to tariffs and how immigration policies evolve.
Stricter U.S. policies on outsourcing and restrictions on H-1B work visas could weigh on India's IT sector, which relies heavily on the U.S. market, a note by CareEdge Ratings said.
"Indians receive the highest number of work visas from the United States, mainly for the IT sector," the note added.
The sector also relies on U.S.-based clients for a significant portion of its revenue.
The overall impact of Trump's second presidency should be "positive" on India's IT sector, JPMorgan said in a note earlier this month.
"Starting with the positives, extension and deepening of U.S. corporate tax rates could support a bounce-back in enterprise technology spending," the brokerage said.
(Reporting by Haripriya Suresh and Sai Ishwarbharath B in Bengaluru; Editing by Shreya Biswas)
(([email protected]; Mobile: +91 9591011727;))
By Haripriya Suresh and Sai Ishwarbharath B
BENGALURU, Nov 19 (Reuters) - Donald Trump's presidency in the United States is going to be "pro-business and pro-growth" and good for the tech services industry, Wipro WIPR.NS Executive Chairman Rishad Premji said at an event in the southern Indian city of Bengaluru on Tuesday.
Indian companies and investors will keep a close eye on Trump's return to the White House to assess the impact of his policies on the country's $254 billion IT services industry.
Premji said the conversation on fewer taxes and regulations during Trump's presidency could be powerful and "bodes well for the business and how customers will spend."
"The government is very pro-business and pro-growth, which helps all of our customers, which ultimately helps partners here in India and world over," he said, pointing to the potential corporate tax rate cuts and easier business regulations.
This shift in perspective comes after IT services players underwent consecutive difficult quarters of clients holding back spending, particularly on discretionary projects, due to macroeconomic concerns and inflationary pressures.
Premji noted that IT firms must remain "watchful" about inflationary pressures, particularly in regard to tariffs and how immigration policies evolve.
Stricter U.S. policies on outsourcing and restrictions on H-1B work visas could weigh on India's IT sector, which relies heavily on the U.S. market, a note by CareEdge Ratings said.
"Indians receive the highest number of work visas from the United States, mainly for the IT sector," the note added.
The sector also relies on U.S.-based clients for a significant portion of its revenue.
The overall impact of Trump's second presidency should be "positive" on India's IT sector, JPMorgan said in a note earlier this month.
"Starting with the positives, extension and deepening of U.S. corporate tax rates could support a bounce-back in enterprise technology spending," the brokerage said.
(Reporting by Haripriya Suresh and Sai Ishwarbharath B in Bengaluru; Editing by Shreya Biswas)
(([email protected]; Mobile: +91 9591011727;))
Wipro Signs Definitive Agreement To Subscribe For Share Capital In Ampin Energy C&I One
Nov 8 (Reuters) - Wipro Ltd WIPR.NS:
WIPRO -SIGNS DEFINITIVE AGREEMENT TO SUBSCRIBE FOR SHARE CAPITAL IN AMPIN ENERGY C&I ONE
WIPRO -TO SUBSCRIBE FOR SHARE CAPITAL IN AMPIN ENERGY C&I ONE FOR 24 MILLION RUPEES
Source text: [ID:]
Further company coverage: WIPR.NS
(([email protected];))
Nov 8 (Reuters) - Wipro Ltd WIPR.NS:
WIPRO -SIGNS DEFINITIVE AGREEMENT TO SUBSCRIBE FOR SHARE CAPITAL IN AMPIN ENERGY C&I ONE
WIPRO -TO SUBSCRIBE FOR SHARE CAPITAL IN AMPIN ENERGY C&I ONE FOR 24 MILLION RUPEES
Source text: [ID:]
Further company coverage: WIPR.NS
(([email protected];))
Wipro Launches Google Gemini Experience Zone
Nov 7 (Reuters) - Wipro Ltd WIPR.NS:
WIPRO - WIPRO LAUNCHES GOOGLE GEMINI EXPERIENCE ZONE
WIPRO - EXPERIENCE ZONE WILL SOON BE SET UP IN BENGALURU
Source text: [ID:]
Further company coverage: WIPR.NS
(([email protected];))
Nov 7 (Reuters) - Wipro Ltd WIPR.NS:
WIPRO - WIPRO LAUNCHES GOOGLE GEMINI EXPERIENCE ZONE
WIPRO - EXPERIENCE ZONE WILL SOON BE SET UP IN BENGALURU
Source text: [ID:]
Further company coverage: WIPR.NS
(([email protected];))
Wipro Announces Strategic Partnership With Relex Solutions
Nov 6 (Reuters) - Wipro Ltd WIPR.NS:
ANNOUNCES STRATEGIC PARTNERSHIP WITH RELEX SOLUTIONS
Source text: ID:nBSE1PVCx0
Further company coverage: WIPR.NS
(([email protected];;))
Nov 6 (Reuters) - Wipro Ltd WIPR.NS:
ANNOUNCES STRATEGIC PARTNERSHIP WITH RELEX SOLUTIONS
Source text: ID:nBSE1PVCx0
Further company coverage: WIPR.NS
(([email protected];;))
Wipro, Microsoft And Sap Collaborate
Oct 30 (Reuters) - Wipro Ltd WIPR.NS:
WIPRO - WIPRO, MICROSOFT AND SAP COLLABORATE
WIPRO - WIPRO, MICROSOFT, SAP COLLABORATE TO ACCELERATE RISE WITH SAP MIGRATION
Source text: [ID:]
Further company coverage: WIPR.NS
(([email protected];))
Oct 30 (Reuters) - Wipro Ltd WIPR.NS:
WIPRO - WIPRO, MICROSOFT AND SAP COLLABORATE
WIPRO - WIPRO, MICROSOFT, SAP COLLABORATE TO ACCELERATE RISE WITH SAP MIGRATION
Source text: [ID:]
Further company coverage: WIPR.NS
(([email protected];))
Rain batters India's Bengaluru, renews haphazard expansion concerns
By Kashish Tandon, Nandan Mandayam and VarunVyas Hebbalalu
BENGALURU, Oct 23 (Reuters) - Schools were shut and people worked from home in India's tech hub of Bengaluru on Wednesday after the heaviest rains in nearly three decades again brought the city to a standstill.
Bengaluru has become hostage to the monsoon rains in recent years, with flooded roads, uprooted trees and choked drains becoming an annual feature in the city of 14 million.
This year, a weather station in the northern part of the city recorded rainfall of 186 mm (7.3 inches) on Monday, the highest in a single day recorded in the city since 1997.
As of Tuesday, Bengaluru had received 211.7 mm of rain this month, nearly double the rain normally seen during this period, according to data from the India Meteorological Department.
The resulting disruption has renewed concerns about unplanned development of "India's Silicon Valley", which is home to thousands of startups and global companies from Walmart WMT.N to Alphabet's GOOGL.O Google.
"If it rains for even half an hour, flooding happens," said Saurabh Kumar, a Wipro WIPR.NS employee who resides in an apartment complex that uses tractors to ferry residents to and from the entrance when it rains.
About 18 km (12 miles) from the city in Babusapalya, the heavy rains knocked down a building under construction, causing the death of five workers.
The local government has urged all private companies to let their employees work from home after the weather department issued an alert through Thursday, warning of continued rainfall.
"Water is coming into my house from my kitchen chimney," said Sadhana Subramanian, 40, a resident in the Banaswadi locality who has been allowed to work from home. "I get scared when it rains too much because then it means that there'll be no electricity."
Companies including Deloitte, Mercedes Benz R&D India, and Nokia NOKIA.HE have encouraged employees to work from home.
Some residents such as Joshey John, who must commute to work, lamented the "lack of vision in developing the city". He said he decided to buy a motorcycle after taking about two hours to cover 11 km (seven miles) by car during the rains.
WHEN IT RAINS, IT FLOODS
Bengaluru, once dubbed a "pensioner's paradise" for its moderate climate, has seen its population explode in recent decades as it became a tech hub, but its infrastructure has failed to keep up.
"Whatever (development) is happening in our city is unplanned. So, the environment, the drainage networks, the wetlands are being destroyed," said Sandeep Anirudhan, founder of activist group Coalition for Water Security.
Over the last four decades, the city has lost 88% of green cover, while areas covered by concrete have increased 11-fold, according to studies by the Indian Institute of Science.
That has led to low infiltration of rainwater, making more than 85% of Bengaluru vulnerable to flooding, according to a study published in the Journal of Landscape Ecology.
The problem is compounded by structures built on what used to be lakes, where water would earlier percolate during rains, said Veena Srinivasan, executive director at environment-focused non-profit organisation WELL Labs.
Additionally, a network of drains that helped connect lakes and were meant to capture rainwater, are blocked with solid waste in several areas, resulting in overflowing.
"More work is required to be done by the city's municipal body for de-clogging and widening storm water drains. That will help reduce instances of such flooding," a senior disaster response force official said.
The official declined to be named as they are not authorised to speak to media.
Bengaluru's civic body did not respond to a Reuters' request for comment.
($1 = 84.0500 Indian rupees)
GRAPHIC: Rapid urbanisation in India’s tech capital Bengaluru https://tmsnrt.rs/3eNGt6a
(Reporting by Kashish Tandon, Nandan Mandayam, and VarunVyas Hebbalalu; Editing by Dhanya Skariachan and Raju Gopalakrishnan)
By Kashish Tandon, Nandan Mandayam and VarunVyas Hebbalalu
BENGALURU, Oct 23 (Reuters) - Schools were shut and people worked from home in India's tech hub of Bengaluru on Wednesday after the heaviest rains in nearly three decades again brought the city to a standstill.
Bengaluru has become hostage to the monsoon rains in recent years, with flooded roads, uprooted trees and choked drains becoming an annual feature in the city of 14 million.
This year, a weather station in the northern part of the city recorded rainfall of 186 mm (7.3 inches) on Monday, the highest in a single day recorded in the city since 1997.
As of Tuesday, Bengaluru had received 211.7 mm of rain this month, nearly double the rain normally seen during this period, according to data from the India Meteorological Department.
The resulting disruption has renewed concerns about unplanned development of "India's Silicon Valley", which is home to thousands of startups and global companies from Walmart WMT.N to Alphabet's GOOGL.O Google.
"If it rains for even half an hour, flooding happens," said Saurabh Kumar, a Wipro WIPR.NS employee who resides in an apartment complex that uses tractors to ferry residents to and from the entrance when it rains.
About 18 km (12 miles) from the city in Babusapalya, the heavy rains knocked down a building under construction, causing the death of five workers.
The local government has urged all private companies to let their employees work from home after the weather department issued an alert through Thursday, warning of continued rainfall.
"Water is coming into my house from my kitchen chimney," said Sadhana Subramanian, 40, a resident in the Banaswadi locality who has been allowed to work from home. "I get scared when it rains too much because then it means that there'll be no electricity."
Companies including Deloitte, Mercedes Benz R&D India, and Nokia NOKIA.HE have encouraged employees to work from home.
Some residents such as Joshey John, who must commute to work, lamented the "lack of vision in developing the city". He said he decided to buy a motorcycle after taking about two hours to cover 11 km (seven miles) by car during the rains.
WHEN IT RAINS, IT FLOODS
Bengaluru, once dubbed a "pensioner's paradise" for its moderate climate, has seen its population explode in recent decades as it became a tech hub, but its infrastructure has failed to keep up.
"Whatever (development) is happening in our city is unplanned. So, the environment, the drainage networks, the wetlands are being destroyed," said Sandeep Anirudhan, founder of activist group Coalition for Water Security.
Over the last four decades, the city has lost 88% of green cover, while areas covered by concrete have increased 11-fold, according to studies by the Indian Institute of Science.
That has led to low infiltration of rainwater, making more than 85% of Bengaluru vulnerable to flooding, according to a study published in the Journal of Landscape Ecology.
The problem is compounded by structures built on what used to be lakes, where water would earlier percolate during rains, said Veena Srinivasan, executive director at environment-focused non-profit organisation WELL Labs.
Additionally, a network of drains that helped connect lakes and were meant to capture rainwater, are blocked with solid waste in several areas, resulting in overflowing.
"More work is required to be done by the city's municipal body for de-clogging and widening storm water drains. That will help reduce instances of such flooding," a senior disaster response force official said.
The official declined to be named as they are not authorised to speak to media.
Bengaluru's civic body did not respond to a Reuters' request for comment.
($1 = 84.0500 Indian rupees)
GRAPHIC: Rapid urbanisation in India’s tech capital Bengaluru https://tmsnrt.rs/3eNGt6a
(Reporting by Kashish Tandon, Nandan Mandayam, and VarunVyas Hebbalalu; Editing by Dhanya Skariachan and Raju Gopalakrishnan)
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What does Wipro do?
Wipro Limited is a leading technology services and consulting company offering innovative solutions for complex digital transformation needs. With a focus on diverse capabilities and emerging technologies, Wipro helps clients in building sustainable and future-ready businesses worldwide.
Who are the competitors of Wipro?
Wipro major competitors are Tech Mahindra, LTIMindtree, HCL Tech., Persistent Systems, Oracle Finl. Service, L&T Technology Serv., Coforge. Market Cap of Wipro is ₹2,48,092 Crs. While the median market cap of its peers are ₹74,479 Crs.
Is Wipro financially stable compared to its competitors?
Wipro seems to be less financially stable compared to its competitors. Altman Z score of Wipro is 5.58 and is ranked 8 out of its 8 competitors.
Does Wipro pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Wipro latest dividend payout ratio is 47.83% and 3yr average dividend payout ratio is 19.13%
How has Wipro allocated its funds?
Companies resources are allocated to majorly unproductive assets like Cash & Short Term Investments
How strong is Wipro balance sheet?
Balance sheet of Wipro is strong. It shouldn't have solvency or liquidity issues.
Is the profitablity of Wipro improving?
The profit is oscillating. The profit of Wipro is ₹13,135 Crs for Mar 2025, ₹11,045 Crs for Mar 2024 and ₹11,350 Crs for Mar 2023
Is the debt of Wipro increasing or decreasing?
The debt of Wipro is decreasing. Latest debt of Wipro is -₹8,213.1 Crs as of Mar-25. This is less than Mar-24 when it was -₹5,242.3 Crs.
Is Wipro stock expensive?
Wipro is not expensive. Latest PE of Wipro is 18.89, while 3 year average PE is 22.98. Also latest EV/EBITDA of Wipro is 13.99 while 3yr average is 16.14.
Has the share price of Wipro grown faster than its competition?
Wipro has given lower returns compared to its competitors. Wipro has grown at ~12.29% over the last 8yrs while peers have grown at a median rate of 24.35%
Is the promoter bullish about Wipro?
Promoters seem not to be bullish about the company and have been selling shares in the open market. Latest quarter promoter holding in Wipro is 72.73% and last quarter promoter holding is 72.75%
Are mutual funds buying/selling Wipro?
The mutual fund holding of Wipro is decreasing. The current mutual fund holding in Wipro is 4.08% while previous quarter holding is 4.29%.