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<keyword id="10862" type="General" weightage="80" keywordseo="wipro" source="Orion">Wipro</keyword> Consumer Care and Lighting on Thursday announced the execution of a definitive agreement to acquire <keyword id="6382679" type="General" weightage="100" keywordseo="brahmins" source="Orion">Brahmins</keyword>, a traditional vegetarian, spice mix and ready-to-cook brand in Kerala. This fresh move comes after its recent acquisition of Nirapara as Wipro is looking at becoming a sizable player in the packaged foods segment. To expand and further consolidate its spices, breakfast and Ready to Cook category, Wipro has taken the route towards adding Brahmins, a home grown legacy brand in Kerala, into its growing Food Business. Established in 1987, Brahmins is one of the most preferred brands in its home market (Kerala), with ethnic breakfast premix powders, spice mixes, straight powders (spices), wheat products such as -- pickles, dessert mixes, and others. The premium flagship products are <keyword id="2990074" type="General" weightage="50" keywordseo="sambar-powder" source="Orion">Sambar Powder</keyword>, and Puttu Podi which enjoy market leadership position. Anil Chugh, president, Foods Business, Wipro Consumer Care said this is an exciting time for us at Wipro, as we witness the unprecedented expansion of our Foods Business. Spices and RTC are big categories that are poised to grow significantly. "Adding Brahmins under the Wipro fold will further bolster our position in blended spices and ethnic breakfast (Puttu-podi, Appams and other <keyword id="13726" type="General" weightage="50" keywordseo="rice" source="Orion">Rice</keyword> products) categories in Kerala and other markets such as the GCC countries, the UK, the US &amp; Australia," said Chugh. <keyword id="12925230" type="General" weightage="50" keywordseo="sreenath-vishnu" source="Orion">Sreenath Vishnu</keyword>, MD, Brahmins said they are confident that "with Wipro's distribution strength, network, and marketing expertise we will significantly expand our geographical presence and scale Brahmins to newer heights". SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/snapchats-my-ai-enhances-user-experience-with-trivia-gift-suggestions-trip-planning-and-more/articleshow/99633966.cms">Snapchat's My AI enhances user experience with trivia, gift suggestions, trip planning, and more</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/politics/news/shamanuru-shivashankarappa-the-91-year-old-lingayat-heavyweight-is-back-to-polls/articleshow/99633950.cms">Shamanuru Shivashankarappa: The 91-year-old Lingayat heavyweight is back to polls</a>

Wipro consolidates presence in foods with acquisition of Kerala-based Brahmins

New Delhi, <keyword id="198245" type="General" weightage="20" keywordseo="wipro-consumer" source="Orion">Wipro Consumer</keyword> Care and Lighting on Tuesday announced the acquisition of three soap brands, Jo, Doy, and Bacter Shield, from VVF (India) Ltd for an undisclosed amount, a move that will help the company expand in the personal wash segment. This is the third acquisition by <keyword id="10862" type="General" weightage="20" keywordseo="wipro" source="Orion">Wipro</keyword> Consumer Care and Lighting, part of Azim Premji-led Wipro Enterprises, within the last 12 months and the 15th acquisition so far, as it is aggressively expanding its portfolio. "The acquisition will be a strategic expansion for Wipro in the personal wash segment," said a statement from Wipro Consumer, which is among the leading players in the segment with sandalwood soap brand Santoor and female toiletries brand Enchanteur. Jo toilet soap has a presence in North, East and West markets, Doy operates in the premium segment with differentiated positioning, and Bacter Shield has an antibacterial range of soaps and handwash. "These brands together recorded a revenue of over Rs 210 crore during FY23," it said. In FY23, Wipro's Santoor had become the second largest player in the segment in India with sales of over Rs 2,650 crore while Enchanteur has also crossed the 1,000 crore mark. Earlier, Wipro Consumer Care, which has ambitions to become a formidable player in the fast-growing Indian food market, had acquired Nirapara and Brahmins. Vineet Agrawal, CEO of Wipro Consumer Care and Lighting, said these brands complement the existing portfolio and will give a stronger foothold in the key markets. "With a diverse array of brands and Wipro's robust distribution network, we are positioned to fortify our market presence and propel growth," said Agrawal, who is also Managing Director of Wipro Enterprises. "The divestment of Jo, Doy, and Bacter Shield to Wipro aligns with our focus on optimising our portfolio and underscores our confidence in Wipro's ability to nurture and elevate these brands," VVF (India) (Earlier known as Vegetable Vitamins Foods Co) Chairman and Managing Director Rustom Godrej Joshi said. Wipro Consumer Care and Lighting has crossed the milestone of Rs 10,000 crore in overall sales in FY23.

Wipro Consumer acquires 3 soap brands Jo, Doy and Bacter Shield from VVF

<ul><li>Wipro’s share price is down more than 3.5% after the Indian IT services major announced its acquisition of London-based consultancy firm Capco. </li><li>Analysts are wary that integrating the company may prove to be a challenge for Wipro in the near-term and long-term. </li><li>So far, Wipro has been top performing IT stock compared to its peers over the last one year. </li></ul>Even though Wipro has been the best performing IT stock on Nifty over the last one year, nearly doubling in value, analysts are still treading on the side of caution. And, its latest acquisition has just added to the street’s anxiety about the Indian IT services giant. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top 5 Indian IT services companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change in share price over the last 365 days </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">91.25% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">79.30% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">70.71% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">43.73% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">31.08% </td></tr></tbody></table>Source: Nifty IT Wipro’s rally in the last one year can be attributed to the switch in the company’s strategy after its new chief executive, Theirry Delaporte, came in. “While everything appears perfect on paper, we do realise the strategy is easier formulated than implemented,” said analyst firm Phillip Capital in its report dated November 2020. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rating </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Credit Suisse </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 500 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UBS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 470 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CLSA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Underperform </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 460 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 450 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Morgan Stanley </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Underweight </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 410 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jefferies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Underperform </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 380 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JP Morgan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Underweight </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 370 </td></tr></tbody></table>Source: Respective reports With the Capco deal, Wipro’s share price went for a dive after its largest ever acquisition worth $1.45 billion. “The execution risk is further aggravated by a weak growth performance from Capco over the last two years – even after adjusting for the drag due to COVID-19,” said Motilal Oswal in its report dated March 4. Its share price is down over 3.5% at 1:00 pm on March 5. <div type="image" title="Copy of Infosys" msid="81345618" hostid="261" caption="&amp;lt;p&amp;gt;Wipro share price growth over the last 365 days&amp;lt;/p&amp;gt;"></div> According to Nomura, even though the Wipro-Capco deal adds presence in the consulting businesses, it has typically been a less successful venture for Indian IT services companies. The global brokerage is also wary that the valuation of the deal is a bit on the higher side and will impact margins in the long run since consulting requires heavy onsite presence. “Ongoing restructuring and investments would take a toll on margins in the near term, eating away at gains from operational efficiency. Even lower margins from acquiring Capco would further put pressure on the bottom line,” added Motilal Oswal. The deal between Wipro and Capco is likely to be finalised by June 2021, subject to regulatory approvals. SEE ALSO: <a href="https://www.businessinsider.in/thelife/personalities/news/heres-why-the-bjp-may-be-dilly-dallying-on-declaring-the-metro-man-as-the-chief-minister-candidate-for-kerala/slidelist/81342981.cms">Here’s why the BJP may be dilly-dallying on declaring the Metro Man as the Chief Minister candidate for Kerala</a> <a href="https://www.businessinsider.in/business/startups/news/these-are-the-worlds-top-food-delivery-companies-indias-zomato-and-swiggy-have-a-long-way-to-go-as-compared-to-their-global-counterparts-like-doordash-or-meituan/slidelist/81344728.cms">These are the world’s top food delivery companies – India’s Zomato and Swiggy have a long way to go as compared to their global counterparts like DoorDash or Meituan</a> <a href="https://www.businessinsider.in/stock-market/news/heranba-industries-ipo-makes-a-bumper-debut-on-stock-exchanges/articleshow/81342578.cms">Heranba Industries makes a bumper debut on stock exchanges — shares soar 44% over the issue price band</a>

Wipro's share price has outperformed its peers in the last year — but analysts are still cautious about giving it a 'buy' rating

<ul><li>Indian IT software exporter <keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword> has acquired the Australian cybersecurity firm, Ampion, for a whopping $117 million.</li><li>The company’s share price was up by 1.8% as markets opened today morning.</li><li>Wipro will be absorbing the Ampion’s 500-strong workforce and will keep its CEO, Jamie Duffield, at the helm of operations.</li></ul>Wipro is doubling down on getting a foothold in the Australian continent with its latest acquisition of Ampion. The deal is for a whopping $117 million in cash, according to the <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/30f63b80-346c-4b93-b178-b98609929b59.pdf">regulatory filing</a>. The India IT major’s share price was up by 1.8% as markets opened today morning but settled at around 1.1% above yesterday’s closing at 10:30 am. The company's stock has gained over 8% this year, so far. <div type="image" title="Copy of Aadhaar PDS beneficiers" msid="81818356" hostid="261" caption="&amp;lt;p&amp;gt;Wipro&amp;#39;s share price since 1 January 2021&amp;lt;/p&amp;gt;"></div> Ampion is a leading player in the Australian market when it comes to providing cybersecurity, DevOps and engineering services. The Melbourne-based business has a local team of 500 consulting and technology specialists and 150 clients already in the bag. According to Wipro, the leadership of both companies will collaborate to finalise the brand strategy in Australia and New Zealand. Ampion will retain its operational identity during the initial period on integration, which is from six to 12 months. The financial impact of the deal won’t be reflected in this quarter’s number. The acquisition is likely only to be finalised in the three months ending on June 30 and will be a boost to Wipro’s first quarter earnings of the financial year 2021-22. “Wipro’s new operating model emphasises strategic investments in focus geographies, proximity to customers, agility, scale and localisation. The acquisition of Ampion is an important step for Wipro in this direction,” the company said in its <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/30f63b80-346c-4b93-b178-b98609929b59.pdf">press release.</a> The chief executive officer (CEO) of Ampion, Jamie Duffield, will continue to lead the business and take on a role within the Wipro’s leadership team in Australia. And all existing employees are expected to stay on even after the integration. “We see Ampion as a complementary force that will help us expand our footprint and accelerate our journey in the Asia Pacific region,” said N.S. Bala, CEO for Asia Pacific and Middle East region at Wipro. The news comes within a month of Wipro announcing its largest acquisition ever in March of the technology consulting company, Capco, to strengthen its role in global financial services. Wipro, which saw a major overhaul in strategy as its new CEO — Thierry Delaporte — came on board in June, last year. The company’s current impetus is on ‘profitable growth’ and it has been on a buying spree during the course of the pandemic. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/government-withdraws-interest-rate-cut-on-small-savings-schemes-in-a-bizarre-u-turn/articleshow/81813361.cms">Folks investing in PPF or Sukanya Samriddhi scheme need not worry⁠ — the rate cuts have been rolled back </a> <a href="https://www.businessinsider.in/careers/news/paytm-money-set-to-hire-250-engineers-for-its-new-technology-centre-in-pune/articleshow/81813092.cms">Paytm Money set to hire 250 engineers for its new technology centre in Pune</a>

Wipro's share price jumps by over 1% after $117 million acquisition of Australian cybersecurity firm Ampion

<keyword id="167620" type="General" weightage="50" keywordseo="wipro-consumer-care" source="Orion">Wipro Consumer Care</keyword> on Monday announced its entry into the packaged food and spice segment by acquiring <keyword id="3043461" type="General" weightage="80" keywordseo="nirapara" source="Orion">Nirapara</keyword>, one of the largest-selling traditional food brands in Kerala. The deal size was not disclosed by the company. The <keyword id="10862" type="General" weightage="100" keywordseo="wipro" source="Orion">Wipro</keyword> group arm has signed a definitive agreement with Nirapara, a company statement said. With this acquisition, Wipro Consumer Care joins FMCG firms such as Dabur, Emami, Tata Consumer Products Ltd and ITC, which are already present in the spices market. Launched in 1976, Nirapara is known for its blended spices. The brand leads in producing a large variety of spice mixes, and rice powder used in making 'appam', 'idiyappam', etc. "Nirapara is our 13th acquisition and gives us a clear foothold in the spices and read-to-cook segment," <keyword id="385584" type="General" weightage="50" keywordseo="wipro-consumer-care-and-lighting" source="Orion">Wipro Consumer Care and Lighting</keyword> and Executive Director - <keyword id="1443098" type="General" weightage="50" keywordseo="wipro-enterprises" source="Orion">Wipro Enterprises</keyword> Vineet Agarwal said. Presently, Nirapara's 63 per cent of business comes from Kerala, 8 per cent from the rest of <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> and the remaining 29 per cent from international markets, largely Gulf Cooperation Council (GCC) countries. Wipro Consumer Care and Lighting and Executive Director - Wipro Enterprises Anil Chugh said there is a huge opportunity in this space for shifting consumers from an unorganized to an organized market by offering authentic, pure and trusted spice mixes. Wipro Consumer Care and Lighting, a part of Wipro Enterprises, is among the fastest-growing FMCG businesses in India. The company recorded a revenue of Rs 8,630 crore in FY22 and its business includes personal wash products, toiletries, facial care products, wellness products, home care products, electrical wire devices, domestic and commercial lighting and seating solutions. It has a strong brand presence with a significant market share across segments in India, Southeast Asia, the <keyword id="30350" type="General" weightage="50" keywordseo="middle-east" source="Orion">Middle East</keyword> and <keyword id="12925" type="General" weightage="50" keywordseo="africa" source="Orion">Africa</keyword>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/private-equity-investments-in-indias-real-estate-sector-witnessed-a-17-decline-in-2022/articleshow/96338847.cms">PE investments in real estate decline 17% in 2022 due to inflation, rising interest rates – Knight Frank India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/kec-international-bags-new-orders-worth-1313-crores/articleshow/96338350.cms">KEC International bags new orders worth ₹1,313 crores</a>

Wipro acquires packaged food and spices brand Nirapara

The industrial automation business of <keyword id="162845" type="General" weightage="80" keywordseo="wipro-infrastructure-engineering" source="Orion">Wipro Infrastructure Engineering</keyword>, a <keyword id="1443098" type="General" weightage="50" keywordseo="wipro-enterprises" source="Orion">Wipro Enterprises</keyword> entity, on Thursday announced it is acquiring Linecraft.ai, a Pune-based AI-enabled company, for an undisclosed sum. Linecraft.ai harnesses the power of both automation domain expertise and artificial intelligence (AI) and machine learning (ML) to empower manufacturers to get more productivity and quality improving operational efficiency on a real time basis. "This acquisition will further help us expand our digital capabilities and offer turnkey automation solutions with a bolt-on digital layer which provides deep insights and analytics to customers," said Pratik Kumar, CEO, <keyword id="10862" type="General" weightage="100" keywordseo="wipro" source="Orion">Wipro</keyword> Infrastructure Engineering (WIN). The Linecraft.ai software is built by a team of AI and ML experts and engineers with a patented algorithm. Wipro Infrastructure Engineering said that after the acquisition of leading Industrial Automation player PARI, this acquisition represents an important step in the strategic development of the group in digitisation arena. "Linecraft.ai software helps our customers to identify bottleneck operations in a complex manufacturing environment,a said G Sundararaman, Co-CEO, Wipro PARI. According to Kumar, the patented technology collects and analyses large amounts of data from industrial machines and recommends ways to optimise productivity using AI, ML, thereby significantly enhancing the customer value proposition. The industrial automation vertical under the Wipro PARI entity has deployed over 1,500 automated systems worldwide across more than 75 global customers. Wipro PARI has state-of-the-art facilities in <keyword id="2094" type="General" weightage="50" keywordseo="pune" source="Orion">Pune</keyword> and Detroit (the US). SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/good-news-for-butterfingers-with-new-gorilla-glass-your-smartphone-can-withstand-a-1-meter-drop-on-concrete/articleshow/95904354.cms">Good news for butterfingers; with new Gorilla Glass, your smartphone can withstand a 1-meter drop on concrete</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indias-g20-agenda-will-be-inclusive-ambitious-action-oriented-decisive-pm/articleshow/95903564.cms">India's G20 agenda will be inclusive, ambitious, action-oriented, decisive: PM</a>

Wipro Infrastructure Engineering acquires Pune-based Linecraft.ai for an undisclosed sum

<ul><li>Wipro announced seven major deal wins in the past 12 months in the more than $100 million category.</li><li>The IT services major also suggested that it is steady on the path of $10 billion annual revenue run rate.</li><li>Wipro also revealed that it now has the highest number of large clients yet.</li></ul>Wipro’s management guidance for the March quarter is that the revenue from its IT services business to grow 2-4%. That’s better than the 1.9% growth clocked in the December quarter. Since companies like Wipro, TCS, and Infosys export software, and earn in dollars, pounds or euros, they report growth in constant currency terms, which is adjusted for foreign exchange fluctuations. Wipro ADRs (American Depository Receipts) were down by 1.5% as of 5:30 p.m., today (January 12). In its exchange filing, <keyword id="597306" type="General" weightage="20" keywordseo="wipro-ceo" source="Orion">Wipro CEO</keyword> and Managing Director Thierry Delaporte said that the company added seven new customers, each bringing in revenues of over $100 million, in the past 12 months, the highest yet. “We are also excited to have completed the acquisitions of Edgile and LeanSwift Solutions in the quarter, both of which will add to our capabilities significantly,” Delaporte added. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dec-21 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sept-21 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Performance </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IT services revenue </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.66 billion </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.61 billion </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,972 crore </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,997 crore </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Source: Company reports, $ in constant currency terms The Bengaluru-based IT company reported a 29.6% growth in its revenue, year-on-year, while IT services margin remained strong at 17.6%. <div type="image" title="Wipro IT services revenue $ CC - Q3 FY22." msid="88856195" hostid="261" caption="&amp;lt;p&amp;gt;Wipro&amp;#39;s IT services revenue over the past eight quarters&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="New large deals in the quarter – from healthcare to waste management and more" comment="subhead" text="New large deals in the quarter – from healthcare to waste management and more">New large deals in the quarter – from healthcare to waste management and more</cmsannotation> Wipro stated that it has signed new deals across various industries, including healthcare, waste management, manufacturing and more. In its IT services segment, Wipro signed up clients across healthcare, manufacturing, retail brokerage, and hospitality sectors, all of which are US-based. In its Digital services segment, the company signed up a Brazilian water and waste management company, apart from three other US-based clients to enhance their cloud security and digitisation programs. The company’s board has also declared an interim dividend of ₹1 per share. <cmsannotation type="cmsannotation" annotationid="Omicron forces Wipro to close its offices globally for the next four weeks" comment="subhead" text="Omicron forces Wipro to close its offices globally for the next four weeks">Omicron forces Wipro to close its offices globally for the next four weeks</cmsannotation> The relentless surge of the Omicron variant of Covid-19 has forced Wipro to close its offices globally for the next four weeks. The company CEO Delaporte stated that the return to offices would be re-calibrated based on the evolving situation of the pandemic. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/wipro-plans-to-hire-30000-freshers-in-2023-as-attrition-rate-increases-to-22/articleshow/88855676.cms">Wipro increases hiring plan to 30,000 as attrition hits a new high</a> <a href="https://www.businessinsider.in/tech/enterprise/news/infosys-saw-its-revenue-grow-by-7-in-q3-fy22/articleshow/88855661.cms">Infosys raises full year guidance after the best quarter in at least eight</a>

Wipro CEO says dollar revenue will grow 2-4% in the next three months

<ul><li>Infosys’ attrition rate increased to 25.5% in the December quarter of 2021.</li><li>It now plans to hire additional 10,000 employees to make up for this increased attrition rate.</li><li>Roy further added that the company already has a pipeline of potential candidates</li></ul>IT giant Infosys plans to increase its hiring plan to over 55,000 individuals by March 2022 as the attrition rate in the company has crossed 25% compared to 20.1% three months earlier. In comparison, the attrition rate at Wipro was <a href="https://www.businessinsider.in/careers/news/wipro-plans-to-hire-30000-freshers-in-2023-as-attrition-rate-increases-to-22/articleshow/88855676.cms">22.7% in the three months</a> ending December. Attrition is used to describe the rate at which employees are leaving the company. “We continue to prioritize investments in talent acquisition and development and have further increased our global graduate hiring program to over 55,000 for FY22 to support our growth ambitions," Nilanjan Roy, chief financial officer at Infosys said. The company had earlier planned to hire 45,000 employees by the end of 2021. <div type="image" title="Infosys" msid="88857005" hostid="261" caption="&amp;lt;p&amp;gt;Infosys&amp;lt;/p&amp;gt;"></div> Roy further added that the company already has a pipeline of potential candidates from multiple verticals including cloud, internet of things, cyber security and more. Roy explained that the company had a three-pronged strategy to stop people from leaving the company. These included higher rewards and compensation, upskilling and reskilling opportunities, and talent retention programmes. “We are also looking at differentiated talent this year when our campus hires digital specialists, who are different skill sets coming into the company. Certainly across reskilling, which continues to be a core to our fundamental business model and how we digitally scale employees, give them incentives to get reskilling in new technologies,” Roy added, explaining how they plan to increase their retention rate. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/wipro-plans-to-hire-30000-freshers-in-2023-as-attrition-rate-increases-to-22/articleshow/88855676.cms">Wipro increases hiring plan to 30,000 as attrition hits a new high</a>

The attrition at Infosys is worse than that at Wipro, Salil Parekh has increased hiring plan by 10,000

<ul><li>Unlike other sectors, the <keyword id="46964" type="General" weightage="20" keywordseo="it-sector" source="Orion">IT sector</keyword> is well placed in a volatile and <keyword id="6357558" type="General" weightage="20" keywordseo="recession" source="Orion">recession</keyword> feared market as its demand environment is strong despite high <keyword id="22195" type="General" weightage="20" keywordseo="inflation" source="Orion">inflation</keyword>.</li><li>Companies are still spending fortunes on digital transformation of their businesses.</li><li>Even if recession takes place, the IT spending growth will remain above normalized levels.</li></ul>The IT stocks have been melting for weeks now in fear of a possible recession that can affect its largest market – the US. While investors and analysts alike are nervous about it, a recent brokerage report has underplayed its effect on the IT sector as a whole and Indian service providers in particular. As companies are spending a fortune on digitization, the IT sector is well placed in a volatile and recession-feared market as its demand is strong despite high inflation, says a report by Kotak Institutional Equities. And, the tech spending cycle wave is in favour of IT companies like <keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword>, <keyword id="6354512" type="General" weightage="20" keywordseo="infosys" source="Orion">Infosys</keyword>, Wipro, HCL Tech and more. “The current recession, if it does materialize, will impact the supply chain and retail segments more than financial services. Assuming the recession is shallow and swift, the financial services segment could hold up better than others,” said the report. Financial services are the largest IT spenders and biggest clients of Indian IT majors. Recession is typically defined as a significant decline in economic activity that is spread across the economy and lasts more than a few months. Currently, prices of gas and food are at record high in the US resulting in 40 year high inflation. Several reports indicate the US is likely to fall into recession. Morgan Stanley CEO James Gorman said to <a href="https://www.reuters.com/business/finance/bank-americas-cfo-says-no-sign-recession-credit-deterioration-2022-06-13/">Reuters </a>there is a 50% chance the US economy will enter a recession. Shallow recession or a deep recession If a recession occurs, clients have an option to either elongate the digital transformation journey or stop it midway. It is very unlikely for a running company to stop its growth journey. “Irrespective, the important point is that we expect IT spending growth to remain above normalized levels as clients progress towards the transformation journey, even as there may be an odd year or two of below-trend level growth,” says the report. In a slowdown situation however, companies see no huge investments coming in or opportunities that could boost margins while a shallow and swift recession leads to clearer priorities by clients to advance their businesses. So even if the recession comes, there will be a downtrend in the IT services sector but the effect will be very moderate. “Profit warning from clients of IT companies and increasing external risks makes the assumption of 6-8% global IT spending growth, unreasonable. We moderate our stance and bake in normalized global IT spending growth of 3-4% for 2023E and 7% for 2022E,” added the report. On the bright side, the recession is expected to cool off the high attrition rate faced by the IT industry for a long time now, said the report. Infosys and TCS standout among other players in the recession-fearing market. Mphasis and HCL Technologies can also survive the bad phase. However, Wipro’s recent acquisitions make it more vulnerable, as per Kotak. Due to the heavy selling in IT stocks, analysts expect the stocks to bottom out at higher multiples and then move up from there. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/news/adani-sells-a-fourth-of-its-green-hydrogen-business-to-frances-totalenergies/articleshow/92197541.cms">Adani sells a fourth of its green hydrogen business to France’s TotalEnergies</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/why-you-should-continue-your-investments-and-sips-in-bear-markets/articleshow/92199199.cms">Bear markets are almost here, but here’s why you should continue your investments and SIPs</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/ipl-value-jumps-3x-to-48000-crore-heres-how-much-mukesh-ambani-disney-and-times-internet-are-spending/articleshow/92209726.cms">IPL value jumps 3x to ₹48,000 crore – here's how much Mukesh Ambani, Disney and Times Internet are spending</a>

TCS, Infosys and HCL Tech can do better in a shallow recession than a slowdown

<ul><li><keyword id="10862" type="General" weightage="20" keywordseo="wipro" source="Orion">Wipro</keyword> is scouting for engineering graduates for its ‘Elite National Talent Hunt 2022’ — a programme for freshers across the country.</li><li>The registration process has already begun and the last date to apply for the opportunity is September 15, 2021.</li><li>The online assessment will be conducted on two tentative dates — September 25 and September 27.</li></ul>Indian information technology (IT) behemoth Wipro is scouting for engineering graduates for its ‘Elite National Talent Hunt 2022’ — a programme for freshers across the country. The registration process has already begun and the last date to apply for the opportunity is September 15, 2021. The selection procedure consists of two steps — online assessment and business discussion. Selected candidates will be given letters of intent and then an offer letter. The online assessment will be conducted on two tentative dates — September 25 and September 27. The assessment consists of three sections — <ul><li>Aptitude Test — Logical ability, quantitative ability, english (verbal) ability</li><li>Written communication test — essay writing </li><li>Online programming test — Candidates can choose any two programming languages out of Java, C, C++ or Python.</li></ul>The candidates will be informed of the results of the recruitment via email or by any other means of communication. <cmsannotation type="cmsannotation" annotationid="Educational qualifications required for participating in the programme —" comment="subhead" text="Educational qualifications required for participating in the programme —">Educational qualifications required for participating in the programme —</cmsannotation> <ol><li>All the candidates should be pursuing Bachelor’s of Engineering (B.E) or Bachelor's in Technology (B.Tech) or Master’s in Engineering (M.E) or Master’s in Technology from any central government recognised university and the year of passing should be 2022.</li><li>Candidates from Fashion Technology, Textile Engineering, Agriculture and Food technology are not eligible to apply for the programme.</li><li>An aggregate score of 60% or 6.0 cumulative grade point average (CGPA) or equivalent as per the university is necessary.</li><li>Candidates who are pursuing their bachelor’s or master's degree from correspondence or distance learning are not eligible to apply.</li><li>The candidates should have scored at least 60% in class 10 and 12.</li></ol><cmsannotation type="cmsannotation" annotationid="Other general eligibility criteria for the programme —" comment="subhead" text="Other general eligibility criteria for the programme —">Other general eligibility criteria for the programme —</cmsannotation> <ol><li>The candidates should be an Indian citizen or should hold a Person of Indian Origin (POI) card or Overseas Citizenship Card (OCI) card.</li><li>Candidates from Bhutan or Nepal need to submit their respective citizenship certificate.</li><li>Only one backlog is allowed during the time of online assessment.</li><li>The offer will be valid only if the candidate clears all the backlogs.</li><li>Only three years of gap is allowed between class 10 and graduation.</li><li>Candidates who appeared for any selection process held in the last six months are not eligible for the programme.</li></ol>Candidates who wish to seek more information and also apply for the opportunity can open this <a href="https://careers.wipro.com/elite">link</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/ipo-bound-vijaya-diagnostics-is-planning-more-acquisitions-in-east-india/articleshow/85755911.cms">IPO-bound Vijaya Diagnostics is planning more acquisitions in east India to expand business</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/the-federal-government-wants-to-take-on-apple-and-googles-increasing-dominance-of-australias-payments-system-heres-why-/articleshow/85756399.cms">The federal government wants to take on Apple and Google’s increasing dominance of Australia’s payments system. Here’s why.</a>

Wipro is inviting engineering graduates for its freshers’ hiring programme across the country

<ul><li><keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword> added more than 12,000 employees in April-June quarter as it expects attrition rate to go up further.</li><li>The IT giant’s total headcount has risen to 209,890</li><li>Wipro reported 12.2% revenue growth in June quarter, out of which 4.9% was organic growth and the rest came through Capco.</li></ul>The war for talent seems to be a rising concern for all information technology (IT) companies in India. While Tata Consultancy Services (TCS) and Infosys have started gearing up on the expectations of a rise in attrition, Wipro has added about 12,000 employees in the June quarter alone. It is the highest ever in a decade. The company’s IT services workforce crossed the milestone of 200,000 taking the overall headcount to 209,890. Wipro has added more than 12,000 employees, which is 80% of what it had added in FY21 and highest in the last decade, said Thierry Delaporte, chief executive (CEO) and managing director (MD) of Wipro. Like its peers, Wipro is also expecting the attrition rate to go up and hence it has been hiring aggressively. In fact, it will roll out 30,000 offers for freshers to join in FY22. “Attrition, as I had called out last quarter itself, will see an uptick, which is very much in line with the demand environment in the industry,” said Saurabh Govil, president and chief human resources officer at Wipro. <div type="image" title="Wipro attrition" height="900" width="1200" msid="84445950" hostid="261"></div> He mentioned that 80% of the organisation will go through three promotion cycles in 12 months- December 2020, June 2021 and again in December 2021. Besides, the company has been conducting several employee training activities and distributing bonuses to retain its employees. “We had called out last quarter that we will do a skill based bonuses [sic]… Apart from that, to augment the supply chain, we are doing unprecedented hiring in terms of freshers into the organisation. We will be onboarding 6,000 freshers in September quarter, which is the highest every Wipro has done. And we will be rolling out more than 30,000 offers this year for freshers to join us next year,” added Govil. Wipro delivered exceptional results in the June quarter with its acquisition of Capco finally making it onto the books. The company reported 12.2% sequential growth in revenue, out of which 4.9% came organically, while the rest came from Capco, said Jatin Dalal, chief financial officer at Wipro at a press conference held after the announcement of June quarter financial results. Wipro had announced its <a href="https://www.businessinsider.in/stock-market/news/wipro-share-price-has-outperformed-its-peers-in-the-last-one-year-but-analysts-are-still-cautious-about-giving-it-a-buy-rating/articleshow/81345564.cms">acquisition of Capco</a> on April 29, this year, for a whopping $1.45 billion — the largest acquisition by the company that is expected to boost the consulting segment of the financial services vertical. Analysts had <a href="https://www.businessinsider.in/stock-market/news/heres-why-wipro-may-show-better-earnings-growth-than-tcs-infosys-and-hcl-tech/articleshow/84201419.cms">expected </a>the company to post a revenue growth of about 9.5% because of Capco acquisition. Moreover, the company has posted a net profit of ₹3,237 crore in April-June quarter, up from ₹2,974 crore in the previous quarter. <div type="image" title="Wipro profit 2" height="900" width="1200" msid="84446016" hostid="261"></div> “Our sequential revenue growth of 12.2% was well ahead of the top-end of our guidance range, both organically and with Capco. Though in the early days yet, I am pleased with the way we have collaborated with Capco to build our joint go-to-market offerings and strategy. We remain focused on deepening our customer relationships, investing in talent and capabilities for the future, and winning market share,” said Delaporte. <div type="image" title="Wipro shares" height="900" width="1200" msid="84446068" hostid="261"></div> SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/ola-electric-scooter-pre-bookings-start-july-15-at-499/articleshow/84441621.cms">Ola Electric scooter pre-bookings start at ₹499 – here’s how to pre-book your Ola Scooter </a> <a href="https://www.businessinsider.in/business/news/merus-plea-against-uber-abusing-its-dominant-status-rejected-by-cci/articleshow/84434982.cms">Meru’s plea against Uber abusing its dominant status rejected by CCI </a>

Wipro's hiring at highest in a decade to hedge against employees leaving

<ul><li>Analysts expect the growth momentum in the IT services sector to continue on account of large deal wins and demand for digital transformation. </li><li>Infosys, TCS, Tech Mahindra and HCL Tech are expected to report a revenue growth anywhere between 3.5% to 5.5% for the period of April-June 2021.</li><li>However, Wipro’s topline is likely to stand out among the top-tier software exporters from India, thanks to the Capco acquisition</li></ul>India’s top software exporters like TCS, Infosys and HCL Technologies are likely to see their dream run continue in the first quarter of the financial year 2022. However, Wipro, one of the top five players in the sector may have had it better than the rest. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Growth estimate* </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Share price change since Feb end 2021 to June 2021 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.3% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">26% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">9.5% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">33% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3.60% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">8% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3.50% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">19% </td></tr></tbody></table>*Source: Axis securities A big reason for Wipro’s outperformance may be the $1.45 billion acquisition of Capco, the largest ever buyout by the Bengaluru-based company. The shares of Wipro have led the IT pack ever since the new chief executive officer (CEO) Thierry Delaporte took charge in June last year. The company made about $2 billion last year from IT services and if Capco delivers the same amount of revenue as it did last year, it could add another $700 million to Wipro’s topline. That’s a 35% bump up a year straight away. Expectations are built up in the stock that has gained about 30% since the Capco deal was announced in early March, and closed in April. <div type="image" title="Wirpo stock price chart" height="900" width="1200" msid="84201479" hostid="261"></div> There is also a lot of apprehension. “The execution risk is further aggravated by a weak growth performance from Capco over the last two years – even after adjusting for the drag due to COVID-19,” said Motilal Oswal in its report dated March 4. “We’re guiding revenue growth of 2% to 4% in the first quarter, outside of Capco and Ampion,” Delaporte had said during the earnings call in April. Wipro has acquired Ampion, an Australia-based provider of cyber security, devops and quality engineering services. The move will strengthen its commitment towards clients and stakeholders in Australia and New Zealand (ANZ). The acquisition will close in the quarter ending June 30, 2021. It’s boom time for all tech companies For the rest of the top five IT services majors, the growth is likely to continue on the same trend seen since the pandemic broke out. “IT spending from North America and Europe has gained momentum and demand for digital transformation has increased exponentially,” Axis Securities said in a report dated July 6. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">New deals from April to June 2021 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Proximus, Ericsson, Virgin Atlantic, Alcatel-Lucent, Commercial Bank of Kuwait </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">ArcelorMittal Europe, Britvic, Archrock </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">HCLT </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">UD Trucks Corporation, Hitachi ABB Power Grids, McLaren Health Care </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bristol Water, Transcell Oncologics, Levi Strauss &amp; Co </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Pret A Manger </td></tr></tbody></table> However, wage hike and rising attrition since the start of the year may dent operating margins of IT companies. Several IT companies have given second salary hikes to eligible employees in a calendar year 2020 as initially promotions had been deferred on account of the pandemic and business downturn. In the last one year, Nifty IT (the index of tech stocks) showed gains of 81% as compared to the benchmark Nifty50’s 46%. These are the estimates for topline growth for the sector. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Broking firm </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Apr-June average growth estimate for tier-I IT companies </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Prabhudas Lilladher </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4.10% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Institutional Research </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Maybank Kim Eng </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.30% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">BOB Capital Markets </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4.20% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Axis Securities </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3%-7% </td></tr></tbody></table>Growth estimates are in comparison to the earnings for the quarter ended June 2020. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/clean-science-and-technology-ipo-maximum-broking-house-recommending-this-ipo/articleshow/84193873.cms">Clean Science and Technology, an Indian supplier to Bayer, has opened its IPO ⁠— and ‘subscribe’ is the unanimous call from analysts | Business Insider India</a> <a href="https://www.businessinsider.in/stock-market/news/gr-infraprojects-ipo-good-ipo-bet-for-long-term-as-per-analysts/articleshow/84193656.cms">GR Infraprojects IPO is for long term investors, say analysts | Business Insider India</a>

You Searched For "Wipro acquisition" and got 12 results

Wipro consolidates presence in foods with acquisition of Kerala-based Brahmins

IANS

Wipro Consumer acquires 3 soap brands Jo, Doy and Bacter Shield from VVF

PTI

Wipro's share price has outperformed its peers in the last year — but analysts are still cautious about giving it a 'buy' rating

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Wipro's share price jumps by over 1% after $117 million acquisition of Australian cybersecurity firm Ampion

Prabhjote Gill

Wipro acquires packaged food and spices brand Nirapara

PTI

Wipro Infrastructure Engineering acquires Pune-based Linecraft.ai for an undisclosed sum

IANS

Wipro CEO says dollar revenue will grow 2-4% in the next three months

Rounak Jain

The attrition at Infosys is worse than that at Wipro, Salil Parekh has increased hiring plan by 10,000

BI India Bureau

TCS, Infosys and HCL Tech can do better in a shallow recession than a slowdown

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Wipro is inviting engineering graduates for its freshers’ hiring programme across the country

Vaamanaa Sethi

Wipro's hiring at highest in a decade to hedge against employees leaving

Bhakti Makwana

TCS, Infosys and HCL Tech will show a good quarter but Wipro’s earnings will outshine them all ⁠— here’s why

Bhakti Makwana

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