Shares of IT major Wipro fell by over 7% in Monday’s trade to the day’s low of Rs 513.95 on BSE despite reporting a 4.6% year-on-year (YoY) rise in its net profit at Rs 3,003 crore for the quarter ended June 2024. The same stood at Rs 2,870 in the year-ago period. However, the revenue … Read more
BENGALURU: Former Wipro CEO Thierry Delaporte earned a staggering $20 million in the 2023-24 financial year, making him the highest-paid CEO in the Indian IT industry. Delaporte’s compensation doubled compared to the previous year, primarily due to a cash compensation of $4.3 million resulting from the accelerated vesting of 989,130 unvested stock options.As of April … Read more
Rishad Premji, the executive chairman of Wipro, did not receive any variable or commission pay as part of his annual compensation package in the fiscal year 2024. This marks the second consecutive year that Premji has not taken this portion of his remuneration. According to the company’s recent 20-F filing with the US Securities and … Read more
Benchmark indices closed higher for the third straight session on Friday. The 30-share Sensex climbed 190 points to settle at 72,831 and the Nifty advanced 84 points to 22,096. Stocks that were in focus include names like IREDA, which rose 5%, Infosys, which declined 3%, and Wipro, whose shares fell 2.5% on Friday. Here’s what … Read more
Indian market is expected to consolidate on Friday tracking muted global cues. The Nifty futures closed positive with gains of 0.95% at 22118 levels on Thursday. India VIX was down by 7.13% from 13.47 to 12.51 levels. Volatility cooled off and paved the way for the bulls from crucial support zones in the previous trading … Read more
Water crisis hits India’s Silicon Valley, employees refuse to come to work! The water crisis in Bengaluru has become a major concern due to rapid urbanization and population growth. The city, often referred to as the ‘Silicon Valley of India,’ is facing a severe water shortage, leading to taps running dry in certain areas just … Read more
Indian IT sector employees should brace for flat salary hikes and deferred increments in 2024. India’s information technology (IT) sector, valued at $250 billion, is predicted to witness stagnant salaries in 2024 due to the impact of global challenges on company operations. The sector, known for being a major employer in the country, is also … Read more
“But looking at the overall structure for the IT index, we believe that if it continues to hold above 36,900, then possible continuity of this uptrend we can see going forward in Nifty IT,” says Rajesh Palviya, Axis Securities. Let us talk about the IT sector because that has been the only sector that has … Read more
Home Business Work From Home Ends For These Employees: TCS, Infosys, Wipro Ask Staff to Return To Office 3 Days A Week By March 31 Tata Consultancy Services recently made it mandatory for all employees to work from the office for at least three days a week by March 31. Cognizant is the latest company … Read more
Tech giants like Tata Consultancy Services (TCS), Infosys and Google, who previously adopted work-from-home policies during the height of the pandemic, are now calling employees back to the office. The change is due to waning effectiveness of the dangerous Covid-19 and companies have said that working from office results in effective collaboration. This shift, however, … Read more