It’s all looking up for the US this week. New figures show manufacturing activity is growing at its fastest pace since April 2011. Analysts have braced themselves for better than expected jobs data on Friday. Oh – and Indian IT outsourcing companies are funnelling money into the country. Read more
In the past month, shares in Infosys have risen 21.1 per cent and Tata Consultancy Services has rallied 22.7 per cent. Meanwhile, shares in Wipro, India’s third largest IT company, have gained a relatively meagre 9.8 per cent.
The company’s results, out on Friday, followed positive figures from India’s other two IT giants. And comments from management suggest Wipro is ready to play catch-up. Read more
Narayana Murthy, the co-founder of Infosys who returned to the helm of the company just weeks ago, has arrived like Santa Claus -bearing gifts.
The Indian IT bellwether has announced pay hikes for employees as it looks to boost morale at the company and keep up with peers in the industry. Read more
As India’s IT sector looks to new markets for growth, the country’s fourth largest IT company, Wipro, has announced that it will pay $30m for a minority stake in the privately held Opera Solutions, a US organisation that works in predictive and prescriptive data analytics.
That translates into helping companies use data to manage costs, risks and other areas of the business. It’s a high-value element of the IT sector that many Indian companies are trying to expand into as growth in other services has tailed off. Read more
Investors can be a fickle lot when it comes to Indian IT.
After results earlier in the week from Infosys and Tata Consultancy Services far exceeded expectations, Wipro’s strong profits growth wasn’t enough to stop the shares taking a beating. HCL though, had an easier ride. Read more
Wipro, India’s third-largest IT company by market capitalisation had a good morning on Friday – it beat profit expectations and saw its shares up over 2 per cent by early afternoon. It was the first time for quite a while that Wipro shares had done anything but fall after a quarterly results release.
The reason? The company forecast that IT services revenue for the quarter ending in December will rise 1.2-3.2 per cent, quarter-on-quarter, to $1.56-$1.59bn, in line with expectations. Read more
The podium can be an uncomfortable place.
Wipro, India’s third-largest IT company by market cap, followed rival Infosys in predicting gloom for the country’s outsourcing industry on Tuesday when it forecast muted revenue growth in the coming quarter. Read more
Wipro, India’s third-largest software maker, on Monday released second quarter results that contained little surprises. But given the company’s recent performance, that might just be a good thing.
After a management shakeup earlier this year that saw Wipro’s ill-fated “power of two” CEO leadership structure shuttered, analysts told beyondbrics that Monday’s results, while in no way spectacular, seemed to signal that Wipro was finally past the structural issues that have kept the company from performing as well as its outsourcing peers, Tata Consultancy Services and Infosys. Read more