WIPRO CLIENTS
GCCs on the hunt: IT companies becoming hotspots for senior talent
According to the findings, there are about 120 top GCCs in India with some 21,000 senior executive roles, including those of vice-president, assistant vice-president, senior vice-president and director. These senior executives have a minimum experience of 15 years, and in the last one year, more than 100 have moved from an IT company to a GCC.
What made Nomura turn bullish on Indian IT sector? Abhishek Bhandari answers
Nomura's bullish stance on Indian IT credits G2000 data stabilization, benefiting midcaps like Persistent, Coforge, and Birlasoft. Wipro's new CEO Srini stabilizes leadership and growth. Discretionary cuts stabilize; US rate cuts expected. Coforge-Cigniti deal boosts testing. Annuity-driven businesses grow. Banking portfolios, large deals vital. FY24 saw midcaps grow 10%+. QoQ growth set to improve.
Indian software sector earnings will remain modest in Q1: here’s why
Infosys and LTIMindtree are expected to lead a modest increase in average growth for Indian software service providers in the first quarter of FY25. However, previous top performers, Tata Consultancy Services (TCS) and HCLTech, may see pressure on profits and margins as they work to reignite growth.
Why Indian IT companies are moving into New Jersey
Top Indian IT companies are zeroing in on New Jersey as its hub, with their top executives and a majority of Indian-origin engineers who work in the US making the city their base. India is New Jersey’s second-largest foreign direct investor and a majority of New Jersey’s immigrant population hails from India.
Wipro merges two North American subsidiaries, liquidates Australian unit
Wipro merged its subsidiaries Designit North America and Wipro Designit Services, effective July 1st. In a separate move, they deregistered another step-down subsidiary Attune Australia Pty Ltd on June 26.
Under Pallia’s leadership, we are in for a bright future together: Wipro chairman
Wipro chairman Rishad Premji expresses confidence in new CEO Srini Pallia's leadership, foreseeing a bright future for the IT services company under Pallia's guidance.
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Facing an unprecedented slowdown, IT companies are undergoing a shift. Here’s what’s changing
IT companies like TCS, HCLTech, Wipro and Tech Mahindra are reorganising their businesses to wade through disruptions and prepare for Gen AI. TCS, under new leadership, merged AI and cloud operations into a unified AI.Cloud unit, responding to growing demand in cloud migration and transformation services.
Why deal sizes are shrinking for top Indian IT companies
IT service providers are experiencing shrinking average deal sizes to as low as $25 million due to cost efficiencies, GenAI transformation, and shorter tenure projects amid uncertain macro-economic conditions. Despite an increase in large deal volume during FY23, industry analysts report a decrease in the average value of those deals. This comes even though Indian software exporters remain major players on the global stage.
IT stocks rally up to 4% as an early indicator of Q1 earnings just gave green signals
Indian IT stocks surged following positive results from Accenture, with Persistent Systems leading the gains. Analysts expect a strong demand environment to drive healthy earnings growth.
Indian IT engineers are a cricket craze in the US
Indian IT professionals from companies like Cognizant, ServiceNow, and Cigniti are actively involved in promoting cricket in the USA during the T20 World Cup matches. The IT industry's role includes owning cricket franchises, sponsoring leagues, and even participating in matches. They are contributing to the growth of cricket in North America, with Indian origin players like Saurabh Netravalkar and Nosthush Kenjige playing for the USA team.
IT industry's competitive intensity to be at highest levels in FY25: HCLTech CEO C Vijayakumar
Despite a challenging economic environment, HCLTech has achieved remarkable annual growth and outpaced larger competitors. The third-largest software services firm, with annual revenues of $13.27 billion, reported growth that outpaced Tata Consultancy Services 4.1% and Infosys 1.4%. Smaller players such as Wipro and Tech Mahindra faced significant struggles.
What's stopping TCS from filling 80,000 open positions?
TCS is facing a challenge with 80,000 open positions due to a skills gap. Amar Shetye, global operations head of TCS's RMG, highlighted the mismatch between employee skills and required roles.
Trouble for techies: Wipro, Infosys and other IT cos delay onboarding of 10,000 freshers, refuse to provide joining date
Tech giants are experiencing a significant decrease in hiring, with companies like Infosys and Wipro postponing the onboarding of new recruits, leaving them uncertain about their joining dates, according to a report by ToI. India's prominent IT firms have deferred the onboarding of around 10,000 freshers who received job offers in the past two years, as revealed by data from the IT employee union Nascent Information Technology Employees Senate (NITES).
Stocks in news: IndiGo, Go Digit, Castrol India, IOL Chemicals, Wipro
Domestic markets stabilize post-elections. IndiGo stake sold. Go Digit reports profit. Wipro rolls out Lab45 AI Platform. Icra receives demand order. NHPTL approves share transfer. TCS launches IoT lab. IOL Chemicals gets CEP certificate. Castrol MD change. TVS signs contract.
Wipro launches Lab45 AI platform to compete on GenAI solutions
Wipro launched Lab45 AI platform to enhance business functions and industry-specific solutions for customers and employees. The platform has shown productivity gains of up to 30% across industries, according to Subha Tatavarti, Wipro's chief technology officer.
How India's new brain power adds to its economic brawn
India is transitioning from being the telemarketing voice of MNCs to their intellectual hub with the rise of GCCs. These fully owned and integrated hubs are driving growth, innovation, and value creation by leveraging India's talent pool. With a projected doubling of GDP share by 2030, GCCs are transforming India's economy and IT landscape, attracting global companies seeking tech talent and cost efficiency.
IT companies go startups way, appoint chief growth officers
Facing a cautious market and clients tightening their purse strings, IT companies are adopting a strategy from startups and web commerce: creating a new C-suite role – the chief growth officer (CGO).
Midcap IT companies in India poach talent from industry majors
Midcap IT companies in India are attracting more employees from larger rivals in the past two years. This trend is seen in the technology services sector amidst macroeconomic challenges and a focus on hiring deployable talent.
Wipro share rally over 3% on US contract win
Wipro's shares surged 3.5% on BSE after winning a $500 million deal with a leading US communication service provider.
Wipro's Switzerland head quits; Bruno Schenk to take over
Indian IT major Wipro on Monday appointed Bruno Schenk succeeds René Mulder, who joined Wipro in February 2021 and has decided to pursue opportunities outside Wipro.
Wipro appoints Sarat Chand as MD for Northern Europe
Effecting a management rejig after the appointment of new chief executive Srinivas Pallia, the company had announced some incremental organisational changes last week, as reported by ET earlier. The firm had said Sarat, the current Wipro-Benelux MD, would lead Northern Europe.
Wipro CEO banks on internal talent, promotes veterans
Focusing on inside talent comes at a time when it has been dealing with exodus of senior leaders. This also comes after a period when Delaporte hired a lot of foreign citizens and expats at high salaries.
Key changes at Wipro; CCI on digital firms’ ‘opaque’ algorithms
IT services company Wipro is undergoing more changes under new CEO Srinivas Pallia. More on this on today’s ETtech Top 5.
Wipro sees more top deck changes under CEO Pallia's watch
New chief executive Srinivas Pallia is undertaking changes in the senior management of IT major Wipro. This is part of multiple changes Pallia is bringing about since he took the helm earlier this year, after the abrupt exit of Thierry Delaporte.
Wipro’s COO Amit Choudhary resigns; Sanjeev Jain appointed as successor
Sanjeev Jain joined Wipro in 2023 as the global head of business operations after his stint at Cognizant, GE, IBM and Kyndryl Holdings (IBM spin-off). He will report to new CEO and MD Srinivas Pallia.
Wipro's Pallia to moderate AI ‘crowdsourcing’ session with staff
In what might also be considered crowdsourcing of ideas, new CEO Srinivas Pallia will moderate a virtual session for staff on June 12 on ways to develop strategies to help clients in artificial intelligence.
Birlasoft eyes large clients to lead industry growth
Pune-based software services provider Birlasoft, part of the $2.9 billion CK Birla Group, recently bagged a $100-million-plus deal which was the “first in about three or four years” for the company.
Wipro launches platform to offer enterprise-level AI services to clients
Wipro expands partnership with IBM to offer new AI services. Introduces Wipro Enterprise AI-Ready Platform leveraging IBM Watsonx for enhanced operations and industry analytic solutions. Provides conversational AI for customer support, marketing, feedback analysis, content generation, and design optimization.
TCS had a decent Q3 barring the order wins: Mayuresh Joshi
TCS numbers better than estimates, order book lower than expected. North American market and BFSI facing challenges. Commentary on client decision making, budgeting cycle, and pricing critical. Headcount reduced, campus hiring still a focus. AI and AI.cloud-led demand driving sector growth. Resilient stock pick in midcap IT space: ER&D and platform product companies with growth in AI and mobility platforms.
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