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Cognizant to pay Rs 4 crore to settle CFO Jatin Dalal’s lawsuit with Wipro
Cognizant’s CFO Jatin Dalal settled a non-compete lawsuit with Wipro for $505,087, covering legal fees, per SEC filing. Wipro cited confidentiality and compensation breaches after Dalal left in November 2023 and joined Cognizant on December 1. The Cognizant Human Capital Committee approved the payment. A similar lawsuit with Mohammad Haque was settled. The settlement terms remain confidential.
Tata 1mg’s FY24 report; Cognizant-Wipro CFO lawsuit settled
Epharmacy Tata 1mg reported a 21% rise in revenue to Rs 1,968 crore for FY24. This and more on today’s ETtech Top 5.
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.
View: Gender diversity needs work
This year, 797 women candidates contested the general elections, constituting 9.6% of the total 8,337 candidates. Only 74 of them won a seat in the 18th Lok Sabha - four fewer than the number of women in the 17th Lok Sabha. This comes less than a year after the passage of the Women's Reservation Bill, which reserves one-third of seats in Lok Sabha and assemblies for women.
Stocks in news: Adani Ports, Cipla, Prestige Estates, MCX, Lupin
Positive growth in domestic markets for the third consecutive week with a focus on Adani Ports, Cipla, Prestige Estates, MCX, Lupin. Updates on Thomas Cook India, SAIL, Wipro, Prestige Estates, Lupin, Cipla, MCX, TVS Motor, CSC Grameen eStores.
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.
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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.
Stocks in news: L&T Finance, Ambuja Cement, Vodafone Idea, Puravankara, Wipro
Equity indices hit record levels on Thursday after lower-than-expected inflation hints at RBI interest rate cut. L&T Finance, Ambuja Cement, Vodafone Idea, Puravankara, NITCO, Wipro, Nalco, Suven Pharma, and MosChip Technology make significant moves. Adani Group-owned Ambuja Cement acquires Penna Cement at Rs 10,422 crore. Morgan Stanley buys 3.13 crore equity shares in L&T Finance.
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.
Stocks in news: Tata Motors, Wipro, RIL, SJVN, NTPC, Canara Bank
Domestic markets witness a major fall as NDA returns with reduced majority. Tata Motors to establish TML Commercial Vehicles Ltd, Ashok Leyland introduces 'Sarathi Suraksha' Policy, RIL faces losses, Wipro introduces Cyber X-Ray, Infosys enhances healthcare in Japan.
IT CEOs' salary in FY24; Wipro offers 85% variable pay
Happy Wednesday! Top bosses at some of the country’s leading IT firms took home enhanced salary packages last fiscal. More on this on today’s ETtech Morning Dispatch.
Stocks in news: ZEE, M&M Financial, Dr Reddy's, Wipro, Biocon
Domestic markets rally on exit polls predicting Modi government's massive mandate. ZEE, M&M Financial, Dr Reddy's, Wipro, Biocon in focus. ZEE to discuss fundraising. M&M Financial reports increased disbursements. Dr Reddy's opens biologics facility in Hyderabad. ICICI Bank partners with Adani One for co-branded credit cards with airport-linked benefits. RVNL awarded Rs 440 crore project by South Central Railway.
Best extension cords starting at just 309 for safety, durability, and versatility at home
Explore a range of the best extension cords tailored to meet diverse needs. Whether for indoor appliances or outdoor power tools, these best extension cords offer durability and safety. Choose from a variety of lengths and styles, including heavy-duty options for demanding applications. Upgrade your power solutions effortlessly with the top extension cords available, ensuring convenience and reliability for all your electrical needs.
Monday rally fizzles: Profit-booking, energy stocks push Sensex over 600 points off peak
Sensex, Nifty closed marginally lower. Uncertainty over the results of the ongoing general elections put volatility at a high with VIX surging almost 90% in the last one month, including climbing 6.8% on the day. The broader NSE Nifty dropped 25 points or 0.11% to end at 22,932. Wipro, NTPC, Sun Pharma, M&M, ITC, and Reliance Industries were the top Sensex laggards, falling up to 2.3%.
Best Extension Cords extend power wherever it's needed
Discover the ultimate convenience with this article to the best extension cords on the market. Whether you're seeking extra reach for your electrical devices indoors or outdoors, we've curated a selection of top-rated options to suit various needs. From heavy-duty cords designed for construction sites to versatile models equipped with multiple outlets for home use, our article covers a range of features and functionalities.
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.
Best LED strip lights under 3000 to brighten your space with vibrant glow
Get the best LED strip lights under ₹3000! In today's world, lighting goes beyond mere functionality—it's an art form that sets the mood, defines spaces, and enhances every experience. LED strip lights are at the forefront of this revolution, offering unparalleled versatility, energy efficiency, and affordability. This list takes you on a journey through a curated collection of top-tier LED strip lights under ₹3000, designed to effortlessly elevate any environment.
Cards vs UPI; Byju’s advisory council dissolved
Happy Monday! UPI's ease of use is driving a shift to cashless payments, leaving debit cards behind. 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.
Wipro elevates Vinay Firake to head APAC, India, Middle East and Africa
Vinay Firake appointed CEO APMEA at Wipro, succeeding Anis Chenchah. Srini Pallia leads. Delaporte resigned, Hari Shetty elevated. Chenchah supports till May 31, 2024. Firake's educational background includes Wharton and Harvard Business School.
Wipro’s new CEO Srinivas Pallia to get max pay of $7 million
Wipro's new CEO, Srinivas Pallia, to receive $7 million annual compensation for two years. Thierry Delaporte to be paid $4.33 million in cash. Pallia's contract for five years starting from 2024.
With $11 million exit pay, Delaporte joins other CEOs in costly exits
An analysis of employment contracts of top IT leaders shows that in recent years, payments to exiting CEOs at companies such as Tata Consultancy Services (TCS), Cognizant and Wipro have ranged from Rs 48 crore to Rs 92 crore.
Azim Premji, Rishad reappointed to Wipro board for 5 years
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 reappoints Azim Premji as non-executive, non-independent director; Rishad Premji as whole-time director
Wipro's board of directors has reappointed Azim H. Premji as Non-Executive, non-independent director of the company while re-appointing Rishad A. Premji as the whole-time director for a period of five years with effect from July 31, 2024, to July 30, 2029.
CEO Srinivas Pallia sold all his Wipro shares before taking charge
Srinivas Pallia sold Wipro shares before becoming CEO. Delaporte resigned early over revenue. Wipro faced leadership exits amid transformation. Pallia led Americas 1 before CEO role, reporting to Rishad Premji in New Jersey.
Companies need to hire more women at entry level, retain them through their tougher years: Wipro CFO Aparna Iyer
"The percentage of women (in leadership) in organisations is fewer, but it is representative of the fact that the overall percentage of women in the workforce is low. It is crucial that companies have more women at the entry level and then they are able to nurture and retain them through the tougher years."
Malay Joshi succeeds Srini Pallia as CEO of Wipro’s Americas 1
Malay Joshi's appointment comes just days after his predecessor, Srini Pallia, was appointed as CEO and MD of Wipro. In his former role, Joshi helped clients drive successful enterprise transformations, enhancing client experience (CX) and strengthening delivery.
Wipro CEO Thierry Delaporte quits, to be replaced by Americas chief Srini Pallia
Srinivas Pallia, who was the CEO for the company's Americas 1 area, will take over as the new CEO and Managing Director from April 7, the company added.
As employees in Bengaluru skip office amid water crisis, employers face fresh challenges
Bengaluru is hit by a water crisis worsened by urbanization. 'Silicon Valley of India' needs mandatory water harvesting and other conservation measures, say experts. Videos, on social media platforms, show residents struggling to get water for their basic necessities.
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