Wipro, India's fourth-largest IT services provider, is mandating that all its employees globally work from office at least thrice a week from this month, according to a company-wide email seen by Reuters on Tuesday.
Companies have been reversing or modifying their "remote work" policies as Covid-19 pandemic-related restrictions wound down for reasons including better communication and collaboration among workers.
HCL Technologies' market capitalisation (market-cap) touched Rs 3 trillion for the first time on Friday, becoming the fourth Indian information technology (IT) firm to achieve this milestone after Tata Consultancy Services (TCS), Infosys and Wipro.
Shares of HCL Tech hit a fresh record high of Rs 1,118.55, up 2 per cent on the BSE in intra-day trade, surpassing its previous high of Rs 1,101 touched on Thursday in intra-day deal.
Shares of Wipro hit a new high of Rs 589, up 2 per cent, on the BSE in intra-day trade on Friday after the company reported a healthy set of June quarter (Q1FY22) numbers. The scrip has surged 12 per cent in three days.
At 09:30 am, it was up by less than 1 per cent at Rs 578.90 after hitting a low of Rs 568.25 in intra-day trade today. A combined 1.9 million equity shares had changed hands on the counter on the NSE and BSE so far.
IT major Wipro on Friday said it has appointed Anup Purohit as its chief information officer (CIO).
Anup brings with him over 25 years of experience across banking and financial services, centered around innovation in digital banking, financial management, business solutions and service delivery, portfolio and program management, risk and controls and information security, Wipro said in a regulatory filing.
IT company Wipro on Wednesday said it has sold its entire stake in Denim Group for a consideration of USD 22.42 million (about Rs 160 crore).
In March 2018, Wipro acquired a 33.33 per cent stake in Denim Group Ltd and Denim Group Management, LLC, an independent application security firm, for a consideration of USD 8.83 million, Wipro said in a regulatory filing.
Shares of information technology (IT) services major Wipro jumped 4.5 per cent to hit a 52-week high of Rs 511.95 on the BSE in intra-day trade on Friday after the company revised its IT services revenue guidance for the quarter ended June 2021.
Wipro in an exchange filing earlier today said it expects revenue from its IT services business to be in the range of $2,324-$2,367 million during the first quarter of FY22. This translates to a sequential growth of 8-10 per cent.
IT major Wipro, on Friday, regained the position as India's third most-valued information technology (IT) company, surpassing HCL Technologies in terms of market capitalisation (market-cap).
At 09:37 am, Wipro stood at number 12 in the overall m-cap ranking with an m-cap of Rs 2.65 trillion. HCL Technologies, meanwhile, slipped to number 13 with an m-cap of Rs 2.62 trillion, BSE data shows.
Shares of Wipro rallied 8.2 per cent to Rs 466 on the BSE in intra-day trade on Friday after the company reported a healthy IT services revenue growth and margins in the March quarter (Q4FY21). The stock had hit its record high of Rs 467, in the intra-day trade on January 13.
The company’s consolidated net profit grew 27.78 per cent year-on-year (YoY) at Rs 2,972 crore, as against Rs 2,326 crore posted in the same period last year.
Wipro on Thursday announced that it has signed an agreement to acquire Ampion, an Australia-based provider of cyber security, devops and quality engineering services. According to reports, Wipro will acquire Ampion for $117 million.
Ampion was formed through the merger of IT services providers Revolution IT and Shelde.
Shares of information technology (IT) companies, on Tuesday, were in focus at the bourses, with six stocks, Infosys, Mindtree, L&T Technology Services (LTTS), Sonata Software, Coforge and Intellect Design Arena from the S&P BSE IT index hitting their respective record highs in intra-day trade on expectation of strong earnings.
At 10:04 am, the S&P BSE IT index, the top gainer among sectoral indices, was up 1.5 per cent, as compared to 0.35 per cent rise in the S&P BSE Sensex.
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