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<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

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>In our latest interview series, we speak to a few CMOs to understand how they are helping out their organisations find the right ways to connect with consumers.</li><li>S Prasanna Rai, Vice President, Marketing, <keyword id="167620" type="COMPANY" weightage="20" keywordseo="Wipro-Consumer-Care">Wipro Consumer Care</keyword> &amp; Lighting shares how the <keyword id="34523" type="COMPANY" weightage="20" keywordseo="fmcg">FMCG</keyword> giant is trying to keep empathy at the center of its communication during the second wave of COVID-19.</li></ul>2020 was an unprecedented experience for businesses of all kinds and sizes. When the entire country was asked to shut down in March 2020, consumer care company Wipro quickly shifted its focus to where consumers were: online. It was trying to take it one day at a time by understanding the ever-changing consumer demand and shift in the media landscape. Now that the second wave has hit the country in full force and people have been working from home for more than a year now, Wipro’s S Prasanna Rai, Vice President, Marketing, Wipro Consumer Care &amp; Lighting told us that this wave was relatively easier to handle for the organization. He said, “The first wave lockdown was a sudden unknown event with no precedent, which meant a war room kind of response with cross-functional meetings daily. This learning in the first lockdown has helped put together a set of working approaches in place, that were deployed during this second lockdown and relatively easier to handle. Product portfolio tweaking to adapt to facilitate manufacturing and supply chain, product development process continued with remote working. Consumer research was more qualitative, and with the brand teams being personally involved rather than on research team interpretation. So during the second wave, the work rhythm was more weekly than daily and also, the extent of communication and reviews required were of lesser frequency than during the first wave.” However, in this second wave, everyone is impacted directly or indirectly. As a company leader, Rai has also found his role changing lately. He has been focusing equally on the inside as much as the outside communication. Telling us how he has tried to be there for his employees, Rai said, “There is a need to lead with empathy and support. In the second wave, every individual has been impacted, either directly or indirectly. It is essential to listen to their concerns and address them empathically and be there for them in every way possible. Even a small act of help and kindness goes a long way in easing someone's woes. It is also essential to use the organisation and personal network in emergencies to put together and provide resources/medicines quickly wherever/whoever required.” Rai and his team have also changed the company’s on-ground selling process to help its sales team stay safe and secure. For example, for a <keyword id="2161100" type="PERSON" weightage="20" keywordseo="New-product-launch">new product launch</keyword>, Wipro had the whole sales pitch in the form of a WhatsApp video. The fragrance of the product was provided in spray format to help demonstrate it. The idea was to prioritise employee’s safety and still give its consumers the touch and feel experience. “As marketers, we are custodians of our brands. We must observe, analyse and react in real-time and continue to evolve in line with the dynamic consumer behaviour. Keeping the customer at the heart of any strategy, we need to be more agile, thoughtful and resilient during these difficult times,” said Rai. Wipro's Santoor is its largest selling brand, which is also India's second largest soap brand and 35% of its business comes from the lighting segment. Even during a pandemic-hit year, Wipro saw about 14% growth in its India business in the first nine months of the fiscal ending March. As per company’s media statement, Wipro witnessed this strong performance on the back of operational efficiencies and new product launches. It had launched new products like surface sanitizers, expanded floor cleaners, anti-germ liquid detergent. Wipro is also considering launching a few products which will be exclusively available on e-commerce platforms as the company saw its e-commerce sale spike by 2X in FY21 than the previous fiscal. According to NielsenIQ’s Retail Intelligence, at the end of the December quarter, 2.8% FMCG sales in India came from e-commerce and in urban cities, it was higher at 7.5%. Apart from new launches and upping its digital game, Rai will continue to focus on communicating empathetically and connect with its customers on a personal level. Sharing his goals for this quarter, Rai said, “Every organisation and every role has now accepted that the pandemic will be around for some time and will not go away so quickly. So it is crucial to take it as part of the personal and professional life and learn to navigate this effectively. Both in personal life and on the work front, the goals continue to be the same – it is the approach to achieving these goals that are tweaked according to the current environment and having empathy, ensuring safety and allaying fears of colleagues and team members.” “Ensure every piece of communication on a brand is in the context or empathetic to the consumer's environment. In some cases, we had to change the tone and mood of the advertising to suit the circumstances without changing or altering the product/brand message much. It is also essential that the product promise we make is credible and enhances its trust,” added Rai. Wipro’s 2019-20 sales revenue stood at $1.09 billion.

Wipro Consumer Care and Lighting’s Marketing Officer shares how the company has changed its marketing strategy during the second wave of COVID-19

<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, Feb 19 () Wipro Lighting expects its smart products to account for 15 per cent of its total domestic lighting product sales in the next two years, said a company official. The company, which showcased a range of smart home products here, had made a foray into the segment in October 2018 and is strengthening its product portfolio by adding more items. Besides, Wipro Lighting, part of over USD 1-billion Wipro Consumer Care &amp; Lighting, also expects prices of its lighting solutions to go up by around 10 per cent from mid-March due to the outbreak of coronavirus in China, as the components supply has been impacted. "This fiscal, around 3 per cent of the total lighting sales would come from the smart lighting solution and we are expecting that by 2021-22, we should be close to around 15 per cent," Sanjay Gupta, senior vice-president and business head (consumer lighting and switches) at Wipro, told . Around 35 per cent of the India business of Wipro Consumer Care &amp; Lighting comes comes from the lighting segment. "We are also seeing sockets a big category and we are also confident on door bells. In the lighting, we would have more SKUs (stock-keeping units)," he said. Founded in 1945 as a vegetable oil company, Wipro Consumer Care &amp; Lighting has now presence in over 40 countries and get around 50 per cent of its business from the international market. Gupta further added that though 2019-20 was a "challenging year" as the real estate was under a slowdown and rural economy was under stress but Wipro had a high single-digit growth in the lighting segment, higher than the industry growth. "We are confident that 2020-21 would be much better year, as we are expecting that real estate would start recovering and there would be some recovery in overall economy also," he said. On being asked about the impact of novel coronavirus on the prices of lighting products, Gupta said, "As of now no, but in another one month, yes, it would be." "We are looking at various alternatives. Lots of components are imported, which is around 30 to 35 per cent. If the prices of the supply goes up, obviously, it has to be passed on. Maybe, it would be around 10 per cent... I guess, we have to do it by March 15," he said. KRH HRS

Wipro expects 15 pc of domestic lighting sales from smart segment in 2 years

<ul><li><keyword id="5998660" type="UNKNOWN" weightage="20" keywordseo="Wipro-Lighting">Wipro Lighting</keyword>’s latest campaign highlights their ‘Safe and touch-free’ offering.</li><li>It seamlessly weaves its contactless offering into the narrative of this heartwarming story. </li></ul>Wipro Lighting has released its latest digital campaign highlighting their Contactless lighting technology that breaks the clutter in the category by <keyword id="9948602" type="UNKNOWN" weightage="20" keywordseo="humanising-technology">humanising technology</keyword>. With the rapid spread of coronavirus, social distancing, and constant vigilance on sanitization, have become basic necessities in our daily lives. And while we continue to hear of developments in technology to minimize physical contact, not many exist in India – at least till now. Wipro Lighting’s range of lighting controls enabled with voice instruction is a revolutionary move in the current scenario. <div type="Youtube" id="QmhJwvxgJ-w" title="Wipro Touch-free Lights | #SurprisinglyHuman | Contactless lighting" thumbUrl="https://i.ytimg.com/vi/QmhJwvxgJ-w/mqdefault.jpg"></div> The latest campaign by the brand depicts its concept of touch free lighting through a fascinating story with a focus on the message of “one less touch” in our daily activities. The film opens in the middle of the night as a doctor returns home from duty. Instinctively his hand reaches out for the switchboard to turn on the lights, however, he quickly backs up and gives a voice command for the lights to turn on – avoiding any physical contact. As he goes on to search for some snacks, an innocent yet stern voice is heard as his daughter interrupts him saying, “Alexa, switch on the Wipro dining room lights,” and then points out: “Sabka khayal rakthe hai. Par khud ka kaun rakhega?”. The campaign manages to beautifully capture the story of our frontline heroes as they attempt to keep their loved ones safe at all times, while depicting the benefits of this ‘contactless’ lighting range in their day to day activities. Talking about the campaign Sanjay Gupta, Senior Vice President &amp; Business Head, Wipro Consumer Lighting and Switches said, “Covid-19 has impacted everyone’s life and has completely changed the way we went about doing even the normal things. This new advertisement from Wipro lighting is to highlight the need to inculcate one more change for everyone’s good and safety. It brings out one of the benefits of Wipro smart lights whereby the consumer can avoid touching the switches; thereby ensuring “one touch less” for safety of everyone. We also zeroed in on this script as this also highlights the sacrifices being made by doctors (all health care professionals in general) and their family during these difficult times” "While technology products often choose the cold and direct approach, Wipro has always emphasized on taking the softer, warmer route for their communication. This one is no different. Considering the troubled times we are in; this is more of an homage to our doctors than a hard-selling product film. The smart light consciously takes a backseat in the narrative and plays an enabler of sorts, making its role surprisingly human," said <keyword id="978561" type="PERSON" weightage="20" keywordseo="Nikhil-Narayanan">Nikhil Narayanan</keyword>, Creative Director, Ogilvy.

Wipro's latest ad humanises technology; aims to show the role gadgets can play to make our homes seamlessly contactless

<ul><li><keyword id="6419840" type="PERSON" weightage="20" keywordseo="Azim-Premji">Azim Premji</keyword> is the second richest man in India who resigned as the chairman of the country's fourth-largest software company — <keyword id="10862" type="COMPANY" weightage="20" keywordseo="Wipro">Wipro</keyword>. </li><li>Premji, who is popularly known as the Czar of the Indian IT industry decided to retire by the end of July. </li></ul>At the age of 73, India’s second richest man, Azim Premji, with a net worth of $22 billion has decided to move on from Wipro. Premji will remain the firm's non-executive director for five years until July 2024. He is one of the pioneers of the multi-billion dollar Indian IT industry. He spearheaded Wipro for 53 years after his return from the Stanford University in 1966, at the age of 21. He transformed a small hydrogenated cooking fat firm into a $8.5 billion global IT powerhouse. All this while, he lead the transformation of his non-IT arm Wipro Enterprises into a global FMCG (fast moving consumer goods), infrastructure engineering and medical devices leader with a revenue of $2 billion in 2018-19. Premji dropped out of Stanford University to handle the business after his father’s death. However, he did return to Stanford 34 years later, to complete his graduation in electrical engineering. Here’s a look at Azim Premji’s salaries and net worth in the last 10 years 
	
	
	<div type="Slideshow" msid="70340117" hostid="261" title="A look at Azim Premji’s salary over the years and net worth shows the Wipro founder is India’s most generous billionaireA look at Azim Premji’s salary over the years and net worth shows the Wipro founder is India’s most generous billionaire" firstImageMsid="70340261" slideCount="10"></div>

A look at Azim Premji’s salary and donations over the years shows the Wipro founder is India’s most generous billionaire

<ul><li>Indian stock markets trade lower on Wednesday, extending the sell-off seen across global markets.</li><li>These were the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market began trade on a weak note on Wednesday. This comes on the back of weak global cues and sell-off across global markets. The equity benchmark index Sensex tumbled over 300 points in early trade; while the Nifty was down nearly 80 points as of 10:05 am. These were the top losers and gainers in the Nifty pack: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GAIL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Industries Limited </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infratel </td></tr></tbody></table>*as of September 9, 9:45 am These are the top stocks that are buzzing in trade today: AstraZeneca India tank 11% The shares of AstraZeneca India were down 10% after the late-stage studies of its COVID-19 vaccine were put on a temporary hold as the company is investigating if the patient who suffered serious side effects had anything to do with their vaccine trial shots. Wipro The IT major Wipro was the top gainer in the Nifty pack. The shares of Wipro were up2% despite the volatility in the market. The company has announced its plans to set up a digital innovation hub at Dusseldorf in Germany, which it said would serve as its major’s flagship centre in Europe. Reliance Industries shares rise after Silver Lake investment The shares of RIL were trading nearly percent higher after the company announced that its subsidiary Reliance Retail had raised a $1 billion investment from Silver Lake. With the investment, <a href="https://www.businessinsider.in/retail/news/reliance-retail-raises-1-billion-from-silver-lake-valuing-the-chain-at-57-billion/articleshow/78009435.cms">Silver Lake takes up 1.75% equity in Mukesh Ambani’s </a>retail venture. Bharat Dynamics shares trade in red for the second day The shares of Bharat Dynamics were trading 4% lower for the second day in a row after the government announced that it is looking to sell over 2.74 crore shares of the company at a floor price of ₹330 apiece. Although its offer for sale received an overwhelming response on day one and was subscribed 1.40 times by non- retail investors. Future Consumer shares down 2% The shares of Kishore Biyani led Future Consumer were down 2% after the company reported ₹68.4 crore loss for the first quarter ended June 30. The overall revenue was down 63.7% to ₹380.5 crore. Other Future Group subsidiaries are also trading lower today - Future Retail down 5%, Future Lifestyle Fashions down 5%, among others. IDBI Bank was down 2% The shares of IDBI Bank were down 2%. The bank sold the remaining 1 million shares amounting to 0.21% stake in the National Stock Exchange of India. Asian Paints among top Nifty gainers The shares of India’s largest paint manufacturer was up 0.75%. This after the brent crude slipped below $40 for the first time since June 30. Brent crude is one of their key ingredients in the manufacturing of oil paints. SEE ALSO: <a href="https://www.businessinsider.in/retail/news/reliance-retail-raises-1-billion-from-silver-lake-valuing-the-chain-at-57-billion/articleshow/78009435.cms" data-type="tilCustomLink">Reliance Retail raises $1 billion from Silver Lake valuing the chain at $57 billion</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-ril-astrazeneca-future-retail-future-consumer-teamlease-spicejet-asian-paints-bharat-dynamics-happiest-minds-ipo-and-route-mobile-ipo/articleshow/78008341.cms" data-type="tilCustomLink">Top stocks to watch— RIL, Astrazeneca, Future Retail, Future Consumer, TeamLease, Spicejet, Asian Paints, Bharat Dynamics and more</a>

Top stock movers — Reliance Industries, Future Retail, Wipro, Asian Paints, IDBI Bank, Bharat Dynamics, Future Consumer and more

Bengaluru, July 14 (IANS) Global software major Wipro on Tuesday said that it is acquiring Brazil-based IT consulting and services firm IVIA Servicos de Informatica Ltda for $22.4 million (Rs 168.9 crore). "IVIA provides IT solutions, including system development, maintenance, consulting and project management services to clients in diverse sectors like financial services, transportation, retail, healthcare, consumer goods and manufacturing in Brazil," the city-based tech firm said in a statement. The 24-year-old Latin firm is headquartered in northeast Brazil, with offices in Fortaleza-Ceara, Recife-Pernambuco and Natal-Rio Grande do Norte. "IVIA's local talent and our global expertise will help expand our footprint, set up delivery centres in the South American country, leveraging its workforce," said the outsourcing firm. The Indian tech major has presence in South America with offices in Brazil, Mexico, Chile, Colombia and Costa Rica. "We have a vision to grow operations in Brazil by bringing global experience to the local market and becoming a partner of choice as an end-to-end IT services provider," said the statement. With 750 techies, IVIA develops solutions to improve and expand its customers' business by reducing costs, increasing productivity and promoting innovation. "We will make strategic investments in the region as IVIA's acquisition will help us address the needs of the clients across multiple verticals," said Wipro's Latam head Mukund Seetharaman. IVIA founder Alexandre Menezes said that Wipro's growing presence in the region, its digital transformation capabilities, global customer portfolio and deliver model will help the local talent and customers. "We can deliver jointly to clients, transform communities and leverage information technology to empower people," Menezed added. --IANS fb/arm

Wipro buys Brazilian IT services firm for $22.4 mn (Ld)

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