WIPRO Q3 DEALS
PE investment in real estate hits $2.5 bn in Q2, a 3-year high
Institutional investments in India's real estate sector surged to a three-year high of $2.5 billion in the June quarter, primarily driven by robust activity in the industrial and warehousing, and residential segments, according to Colliers. The industrial and warehousing segment attracted the majority of investments at $1.5 billion, marking an 11-fold increase from Q2 2023, while the residential segment also experienced significant growth. Conversely, investments in the office sector plummeted 83%. Foreign investors, particularly from the US and UAE, were prominent contributors in the market, indicating a positive outlook for the industry.
IT stocks rally up to 32% in 1 month. Will Q1 results mark end of sluggish revenue growth?
IT sector experiences bullish rally ahead of Q1 results with Tech Mahindra, Coforge, and Infosys emerging as top stock recommendations.
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.
Wipro shares jump over 3% after double upgrade from CLSA
Wipro's stock witnessed a 21.2% surge in the last month, contributing to a 36.5% increase over the past year, with an 11% rise in the current calendar year.
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.
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IT stocks plunge up to 5% on Monday after 8% rally last week. Know how experts view sector!
Nifty IT index fell 2.3% with Coforge and Persistent Systems as top losers, despite Nifty hitting a lifetime high. IT sector has seen recent positive returns but remains a laggard over the quarter.
Today’s Deals on Amazon - Best Deals on Refrigerator (7 June 2024)
As of today, top deals on Amazon on refrigerators offer cutting-edge features, energy efficiency, and ample storage capacity, catering to the diverse needs of Indian households. With innovative technologies like inverter compressors, smart cooling systems, and frost-free operation, these refrigerators ensure optimal freshness and longer shelf life for food items. The stylish design, user-friendly controls, and reliable performance make these refrigerators a top choice among consumers seeking quality and convenience in their kitchen appliances. So, grab the offer before it is gone.
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.
Ashish Kacholia-backed smallcap stock jumps 8% after company's Q4 PAT rises 153%
Zaggle Prepaid Ocean Services, a smallcap company supported by ace investor Ashish Kacholia, saw its shares surge by almost 8% to Rs 338 on Friday's trading session on the BSE. This spike followed the announcement of strong fourth-quarter results.
Go Digit’s D-Street debut; Honasa Consumer Q4 financials
Shares of Go Digit General Insurance started trading on the stock market Thursday. More on this in today’s ETtech Top 5.
Wipro promotes veterans; Paytm & Nykaa Q4 financials
Happy Thursday! Wipro CEO Srinivas Pallia is betting on internal talent to propel growth. This and more in today’s ETtech Morning Dispatch.
Delhivery slides back to losses; Prosus names new CEO
Logistics startup Delhivery fell back into the red for the March quarter but managed to narrow its losses on a year-on-year basis. This and more in today’s ETtech Top 5.
IT sweats to eke out margins on pricing squeeze, staff costs
Indian outsourcing companies face a margin squeeze in FY24 due to a triple threat: aggressive deal pricing, rising employee costs, and the pressure to boost revenue despite tight global budgets. Notably, Tata Consultancy Services (TCS), the industry leader, seems to be the only exception.
A month on, Wipro CEO Srinivas Pallia has townhalls, Q&As on checklist
Srinivas Pallia, the new CEO of Wipro, sets ambitious goals to accelerate large deal momentum, strengthen client relationships, focus on industry-specific profits, build AI-ready talent, and simplify the operating model for future growth.
Drop in renewal deals poses revenue challenge for top IT firms
Deal momentum slowed in 2023-24 despite record deals as clients favor new over old deals. Vendor consolidation and slower decision-making ensued, impacting near-term revenues for service providers who must be proactive.
Deals, hiring show HCL Tech can tap expected IT bounce
Revenue in the major markets of the US and Europe grew sequentially by 4.2% and 2.3%, respectively, while major business verticals also showed higher revenue. But what sets HCLTech apart from peers is the fact that it continued to add headcount during the quarter.
Wipro shares jump 2% as investors spot few bright spots in Q4 results
"About 80% of Wipro's revenue decline over 2QFY23-3QFY24 has come from BFSI alone. A return to growth in BFSI should therefore help stem the erosion," said JM Financial's Abhishek Kumar.
Sustained deal momentum and margin improvement augur well for Wipro
Wipro’s net profit rose by 5.2% sequentially to Rs 2,834.6 crore in the March quarter, much faster than the analysts’ average estimate of 2.5% growth. It was driven by a 40 basis point improvement in the operating margin at 16.4%, again higher than the expectation of a 20 basis point expansion.
Wipro ADRs jump 4% despite Q4 PAT decline, softer guidance
Wipro’s revenue from operations in the reporting period declined 4% YoY to Rs 22,208 crore, compared with Rs 23,190 crore in the corresponding period of last year.
New Wipro CEO Srinivas Pallia reveals his five point plan to revive company’s growth
IT services company Wipro on Friday reported an 8% year-on-year (YoY) fall in consolidated net profit to Rs 2,835 crore for the quarter ended March 2024. It was Rs 3,074 crore in the last year quarter.
Wipro Q4 Results: Profit falls 8% YoY to Rs 2,835 crore, marginally misses estimates
Wipro Q4 Results: Wipro reported an 8% YoY decrease in net profit to Rs 2,835 crore for the quarter ended March 2024. PAT is slightly below estimates. Operating margins at 16.4%. Future outlook optimistic with a focus on AI transformation.
Wipro shares under selling pressure ahead of Q4 results
Wipro Share Price: Following disappointing Q4 results from Infosys, investor sentiment towards IT stocks soured, leading to pressure on Wipro shares. Wipro is slated to unveil its March quarter numbers post-market hours.
Jio Financial Services shares slump 3% ahead of Q4 results today
Shares of Mukesh Ambani-led Jio Financial Services declined 3% at Rs 372 on BSE in Friday's early tarde as the investors await the fourth quarter earnings’ result later in the day.
Wipro Q4 Results Preview: Muted show likely once again, all eyes on new CEO’s growth roadmap
Wipro Q4 Results Preview: The company is projected to see its consolidated revenue remain stagnant compared to the previous quarter and decrease by 4.3% year-on-year (YoY) to Rs 22,185 crore, based on the average estimates provided by 10 brokerage firms.
Wipro shares jump 10% post Q3 earnings. How to trade now?
Wipro's shares surged 10% to reach a 52-week high of Rs 511.95 after the release of its Q3 results. The company's consolidated net profit declined by nearly 12% YoY to Rs 2,694 crore, while its consolidated revenue dropped 4.4% to Rs 22,205 crore. Brokerages like Jefferies and BofA maintained an 'Underperform' rating, while Kotak Institutional Equities recommended a 'Reduce' and Nuvama suggested a 'Hold'. Wipro's Q4 growth guidance and continued headcount declines are concerning for the company. However, the company's sustainability and improved demand commentary are encouraging factors.
Wipro hints at a possible improvement in Q4 revenue amid sustained deal wins
Three months ago, it had guided for a sequential drop of 1.5% to 3.5% in CC revenue for the December quarter hinting at a subdued demand trend. On Friday, it reported a drop of 1.5% in CC terms, closer to the lower end of the guidance. In reported currency terms, revenue fell by 2.1% sequentially to $ 2,656.1 million. On average, analysts were expecting a fall of 1.9% to $ 2,661.6 million.
Wipro Q3 Results: Operating margin beat, deal wins among 5 key takeaways from earnings card
The IT major has guided for -1.5% to 1% sequential growth in its IT services business revenue. This translates to a revenue of $2.62-$2.67 billion in the March quarter in constant currency terms. Most analysts had expected Wipro to give -1% to +1% growth in constant currency revenue.
Wipro Q3 Results: Consolidated PAT drops 12% YoY to Rs 2,694 crore; Re 1/share interim dividend announced
Wipro Q3 Results: Wipro reported disappointing Q3 results, with a decline in net profit and revenue. The company's consolidated net profit decreased by nearly 12% YoY to Rs 2,694 crore, while the consolidated revenue dropped 4.4% to Rs 22,205 crore. The board recommended an interim dividend of Re 1 per share. For the nine months ended December, Wipro's consolidated revenue rose by only 0.4% to Rs 67,552 crore, while the net profit declined by nearly 1% to Rs 8,211 crore. Wipro expects revenue from its IT Services business to be in the range of $2.62 billion to $2.67 billion for the quarter ending March.
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