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<ul><li><keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword> has teamed with Intel to launch a new remote work platform for its clients. </li><li>The demand for remote work solutions is high amidst the coronavirus pandemic and this could bring in more deal wins for the company. </li><li>Wipro’s new CEO <keyword id="9710643" type="UNKNOWN" weightage="20" keywordseo="theirry-delaporte">Theirry Delaporte</keyword> expressed that the company will make the investments necessary in order to boost ‘profitable growth’.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider. </a></li></ul>The demand for work from home solutions is higher than ever before as COVID-19 keeps employees away from the office. As Wipro gears itself up under new leadership, it has joined hands with the computing behemoth Intel in hopes of inking for more deals in the coming quarters. Wipro’s new CEO Theirry Delaporte expressed that the company will be focusing on ‘profitable growth’ in the coming months and Intel seems to be a part of that plan. Aside from cloud solutions, one of the major asks from clients is to enable their employees to work from home — especially from those who didn’t invest enough in their digital transformation over the last few years. They have been bearing the brunt of the coronavirus crisis over the last few weeks, according to Delaporte. “Therefore if we need to make investments, we will make those investments and that will always be our first priority,” explained Wipro CFO Jatin Dalal. Pushing on remote work solutions Intel will enable Wipro’s LIVE Workspace which will be the company’s digital workspace solution within the Intel vPro platform. It’s basically a digital hub that lets a company manage its devices remotely whether it's at home, in the workplace or somewhere remote. It also promises security against firmware-level attacks. Cybersecurity has been a central concern for many companies as the number of malware attacks during the lockdown have been on the rise. Global IT giant Cognizant was subject to a ransomware attack and another US-based law company saw its clients’ personal data get stolen off its servers.

Wipro teams up with Intel to cash in on the increasing demand for work from home

<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

<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>IT major Wipro’s first quarter net profits grew by 12.6% at ₹23.9 billion as compared to that of the same quarter last year, which was at ₹21.2 billion </li><li>The company’s revenues for the first quarter of 2019-20 grew by 5.3% to ₹147.2 billion as compared to last year’s first quarter revenues at ₹139.8 billion. </li><li>However, the operating margins for the IT services segment had a flat growth at 18.4%, growing by a mere 0.8%. </li></ul>IT major Wipro’s first quarter net profits grew by 12.6% to ₹23.9 billion as compared to that of the same quarter last year. This was better than the 11% profit growth clocked by Tata Consultancy Services (TCS) and Infosys’ 5%. Wipro said it expects its IT services revenue will grow, at best, 2% in the following three months ending September, similar to that of Infosys. Infosys had projected a total growth 8.5% to 10% for the full year ending March 2020, which would imply a compounded quarterly growth 1.6% to 1.9%, according to a BOBCAPS research report. TCS to hinted at a double-digit growth for the year. Wipro’s revenue for the first quarter of 2019-20 grew by 5.3% to ₹147.2 billion but the margin in the IT services segment flattened at 18.4%. “We had a slower start to the year, we however remain focused on our operations and continue to invest in talent and capabilities for the future,” said Jatin Dalal, Chief Financial Officer of Wipro. New deals All three major IT service providers from India have bagged new clients helping their outlook going forward. “Our efforts on client mining have resulted in an addition of three customers in more than $100 million bucket. We will continue to build differentiated capabilities to drive business transformation for our customers by investing in our big bets,” said Abidali Z. Neemuchwala, CEO and Executive Director at Wipro. TCS and Infosys too, announced big signings last week along with their quarterly numbers. TCS bagged new deals worth $5.7 billion in the last quarter while Infosys set a new record for itself with new deals worth $2.7 billion. However, the good news for investors is that Wipro plans to continue with its proposed buyback offer of 323 billion shares, which was approved by the board in April, after a green light from market regulator SEBI. The final shareholder approval came in on June 21. Investors may have been worried that the company may rollback the plan after the government decided to impose a 20% tax on share buyback because companies were using share buybacks to give money back to shareholders instead of dividends, which are also taxable in India.

Wipro’s profit grows faster than TCS and Infosys — but it’s share buybacks and new deals keeping hopes up for IT investors

<ul><li><keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword>’s share price is down by over 6% after the company announced its second-quarter earnings post market hours yesterday.</li><li>This is despite Wipro posting stable earnings and its new CEO, Thierry Delaporte outlining the company’s top five priorities. </li><li>Analysts remain cautious, awaiting more details about Delaporte’s timeline and actionable items to execute this vision in the coming days. </li></ul><keyword id="1912963" type="PERSON" weightage="20" keywordseo="Wipro-share-price">Wipro share price</keyword> is down by over 6% despite having posted stable quarterly earnings. The company’s revenue was 2% over the last three months in constant currency terms, and its profit saw a 3.2% increase. <div type="image" title="Wipro share price Oct (1)" msid="78654032" hostid="261" caption="&amp;lt;p&amp;gt;Wipro share price over the last one month&amp;lt;/p&amp;gt;"></div> Wipro’s share price hit a 52-week high on Monday of ₹379 per share. So far this year, the stock has gained 52%. <div type="image" title="Wipro share price since Jan" msid="78654049" hostid="261" caption="&amp;lt;p&amp;gt;Wipro&amp;#39;s share price since January&amp;lt;/p&amp;gt;"></div> Show — don’t tell Wipro hasn’t always had the most smooth of transitions when it comes to changes in leadership. So, even with the company’s new <a href="https://www.businessinsider.in/business/corporates/news/wipro-ceo-thierry-delaporte-outlines-five-point-strategy-for-growth-looking-at-more-acquisitions-and-larger-deals/articleshow/78643942.cms">CEO Thierry Delaporte outlining Wipro’s top five priorities</a> with him at the helm, people want more information. <table style="border-width: initial; border-style: none; background-color: rgb(255, 255, 255); font-size: 16px; line-height: 1.6em; box-shadow: none; width: 468pt; font-family: Merriweather; table-layout: fixed; padding-bottom: 10px !important; background-image: inherit !important; background-position: inherit !important; background-size: inherit !important; background-repeat: inherit !important; background-attachment: inherit !important; background-origin: inherit !important; background-clip: inherit !important;"></colgroup><tbody><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Brokerage on Wipro </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Target price </td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">ICICI Securities </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹ 435 </td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Motilal Oswal Securities </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹ 385 </td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Nirmal Bang </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹ 382 </td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Kotak Institutional Equities </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹ 380 </td></tr></tbody></table> Delaporte’s endeavour to catch up to its IT services peers like Tata Consultancy Services (TCS) and HCL Tech is commendable. Still, he needs to set out indicative timelines for quantified goals, according to Nirmal Bang. “Executing on these priorities will entail a set of changes that will be known over the coming months. After a strong and partly buyback-fuelled rally in the stock price, upsides will be modest,” added Kotak Institutional Equities in its report. Simply put, Wipro’s valuation may have become a little expensive over the past month. Nonetheless, analysts expect to see quicker deals, more acquisitions and traction in digital revenues for Wipro even as they maintain caution. “We await further evidence of execution of Wipro’s refreshed strategy and a successful turnaround from its growth struggles over the past decade before turning more constructive on the stock,” said Motilal Oswal Securities. Wipro also announced a <a href="https://www.businessinsider.in/business/corporates/news/wipro-posts-stable-quarter-profit-rises-3-2-with-revenue-guidance-of-1-5-to-3-5-over-the-next-three-months/articleshow/78640025.cms">share buyback plan of ₹9,500 crore</a> and the <a href="https://www.businessinsider.in/business/corporates/news/wipro-posts-stable-quarter-profit-rises-3-2-with-revenue-guidance-of-1-5-to-3-5-over-the-next-three-months/articleshow/78640025.cms">acquisition of Eximius Design</a>, a US-based engineering services company. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/apple-new-iphone-12-series-with-5g-launched-starting-at-rs-69999-along-with-side-homepod-mini-debut/articleshow/78647779.cms">Apple's new iPhone 12 series with 5G launched starting at ₹ 69,999 along with HomePod Mini debut</a> <a href="https://www.businessinsider.in/business/corporates/news/wipro-ceo-thierry-delaporte-outlines-five-point-strategy-for-growth-looking-at-more-acquisitions-and-larger-deals/articleshow/78643942.cms">Wipro CEO Thierry Delaporte outlines five-point strategy for growth — looking at more acquisitions and larger deals</a> <a href="https://www.businessinsider.in/careers/news/wipro-to-promote-80-of-its-eligible-staff-in-the-next-three-months-increments-will-be-in-line-with-last-year/articleshow/78643398.cms">Wipro to promote 80% of its eligible staff in the next three months — increments will be in line with last year</a>

Wipro’s share price dips by over 6% after earnings — analysts believe it will take a while to catch up to TCS and HCL Technologies

<ul><li><keyword id="1912963" type="PERSON" weightage="20" keywordseo="Wipro-share-price">Wipro share price</keyword> has jumped by 16% on Wednesday morning after the Indian IT services giants announced its Q1 results on Tuesday. </li><li>Piggybacking on Wipro’s surge, <keyword id="620690" type="PERSON" weightage="20" keywordseo="Infosys-share-price">Infosys share price</keyword> is also up by 8%. </li><li>Analysts expect the impact of the coronavirus impact on Infosys — which is set to announce its results today evening, July 15 — to be less than its peers. </li></ul>Wipro’s share price is up by over 16% after the company announced its first-quarter results yesterday. Building on that momentum, Infosys share price — who is set to announce its Q1FY21 results after the stock market closes today — is surging by 8%. <div type="image" title="wipro share price (1)" msid="76974011" hostid="261" caption="&amp;lt;p&amp;gt;Wipro share price over the past month&amp;lt;/p&amp;gt;"></div> <div type="image" title="infosys share price (4)" msid="76974001" hostid="261" caption="&amp;lt;p&amp;gt;Infosys share price over the past month&amp;lt;/p&amp;gt;"></div> Wipro’s gross revenue was down 5.1% this quarter as compared the previous quarter, and most of it came from the drop in revenue from IT services which fell by 7.3% quarter on quarter (QoQ). <div type="image" title="Wipro revenue" msid="76973854" hostid="261" caption="&amp;lt;p&amp;gt;Wipro&amp;#39;s gross revenue and growth trajectory over the last five quarters&amp;lt;/p&amp;gt;"></div> However, it announced that it onboarded 7,000 new employees in the last three months, with plans to continue lateral hiring in the second quarter of 2020-21. Infosys to announce Q1 results on Wednesday After the results of Tata Consultancy Services (TCS) and Wipro, Infosys is set to announce its first-quarter results on Wednesday evening, July 15. Analysts expect Infosys to be less impacted than its peers. All eyes will be on new large deals that the Indian IT services giant was able to bring in over the next three months as well as the impact across different segments. The manufacturing and auto vertices are likely to see continued pressure. Piggybacking on Wipro’s jump in share price, the Infosys stock is also rising as investors expect the company’s results to be better than its counterparts. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/tcs-hiring-again-with-5-employees-to-return-to-offices/articleshow/76887172.cms">TCS to kickstart lateral hiring and bring back 5% of its employees to offices</a> <a href="https://www.businessinsider.in/business/corporates/news/wipro-q1-earnings-preview-growth-revenue-margins-theirry-delaporte/articleshow/76951601.cms">A new CEO, Brexit and supply-side exposure may leave Wipro’s Q1 earnings more dented than others</a> <a href="https://www.businessinsider.in/business/corporates/news/infosys-earnings-what-to-expect-and-comparison-with-tcs/articleshow/76952717.cms">The key thing to watch out for during Infosys earnings will be the size of the new deals</a>

Wipro share price 16% increase leads to surge in Infosys share price too

<ul><li>Wipro — the fourth largest IT services company in India — is planning to hire technical sales professionals with knowledge in cloud, cyber security and engineering services. </li><li>The company is looking for people who have prior experience in multiple service line deals worth over $10 million (nearly ₹699 million). </li><li>According to an ET report, the move is aimed at securing more and larger traditional deals.</li></ul>In the backdrop of the ongoing job crisis in India, the IT sector hiring appears to be rebounding, <a href="https://www.businessinsider.in/hiring-tcs-infosys-wipro-and-others-up-12-months-in-a-row/articleshow/69019342.cms">growing</a> in double digits over the past few months. Wipro — the fourth largest IT services company in India — is planning to boost its hiring efforts to <a href="https://economictimes.indiatimes.com/tech/ites/wipro-to-scale-up-sales-team-to-win-deals-and-influence-growth/articleshow/69243501.cms">expand the sales workforce</a> across geographies, ET reported. The IT major is reportedly looking for technical sales professionals in specific areas including cloud, engineering services and cyber security services that will cater to the markets in Australia, the US and the Middle East. “Wipro is…bringing in new blood and has tasked recruitment firms to look at bid and account managers,” ET reported. According to the jobs that Wipro advertised on its <a href="https://careers.wipro.com/">portal</a>, the company is looking for people who have a prior experience in multiple service line deals worth over $10 million (nearly ₹699 million). Earlier in January, the company <a href="https://www.businessinsider.in/wipro-campus-placements-to-double/articleshow/67719782.cms">reportedly doubled its campus hiring</a> along with salary hikes for graduates with digital expertise such as in big data and analytics. Wipro had been planning to hire fresh talent that can be trained with advanced digital skills. According to an ET report, the move is aimed at securing more traditional deals. The initiative comes as the IT company recovers from underperformance in the past years, fetching higher profits in the recent quarter. The IT sector faced a challenging time back in 2017, laying off nearly 56,000 professionals as automation took over the technical job market. According to the <a href="https://www.businessinsider.in/hiring-tcs-infosys-wipro-and-others-up-12-months-in-a-row/articleshow/69019342.cms">World Economic Forum (WEF)</a>, the growing demand for digitisation will take away nearly 75 million jobs by 2022. According to Peter Bendor-Samuel, chief executive officer of IT consultancy Everest Research, “Wipro, has clearly struggled when compared against its peer companies when it comes to sales. Investment in its sales force seems to be one of several steps which make sense,” ET reported. See also: <a href="https://www.businessinsider.in/hiring-tcs-infosys-wipro-and-others-up-12-months-in-a-row/articleshow/69019342.cms">Hiring by Indian IT companies has grown 12 months in a row, up over three-fold</a> <a href="https://www.businessinsider.in/wipro-campus-placements-to-double/articleshow/67719782.cms">Indian IT major Wipro is on a hiring spree, plans to double campus offers and hike pay</a>

Indian IT major Wipro is hiring ‘new blood’ to expand its sales workforce across geographies

New Delhi, Feb 6 () IT company Wipro on Thursday said automotive technology supplier Marelli has awarded it a multi-year strategic deal. The financial details of the deal were not disclosed. This partnership will help Marelli to standardize, simplify and further enhance their IT services at a global level and consolidate several current vendors across applications management services and workplace end user services, Wipro said in a statement. "We are consolidating and further developing our IT services at a global level. This consolidation and standardisation will provide an important pillar of integration within the company. We found in Wipro the right partner for the future to enable us to drive this." Dario Castello, Senior Vice President - Chief lnformation Officer, Marelli, said. PRS RUJ

Wipro wins multi-year strategic deal from Marelli

<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>

You Searched For "wipro new deal" and got 9 results

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Wipro share price 16% increase leads to surge in Infosys share price too

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Indian IT major Wipro is hiring ‘new blood’ to expand its sales workforce across geographies

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Wipro wins multi-year strategic deal from Marelli

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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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