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Near-term pain for Wipro
Akin to its larger peer Infosys, Wipro disappointed the Street, too, with a muted guidance (-1 per cent to 0.9 per cent revenue growth) for the June quarter, as against analysts' expectations of one to three per cent growth. This is a reflection of poor growth in the Indian market and slower decision making by some global clients. In Indian operations (about 10 per cent of revenues), a broad-based
Akin to its larger peer Infosys, Wipro disappointed the Street, too, with a muted guidance (-1 per cent to 0.9 per cent revenue growth) for the June quarter, as against analysts' expectations of one to three per cent growth. This is a reflection of poor growth in the Indian market and slower decision making by some global clients. In Indian operations (about 10 per cent of revenues), a broad-based
Summary Box: Wipro profit up 8 percent
: Outsourcing company Wipro's quarterly net income was 14.8 billion rupees ($291 million). Sales rose 19 percent, as its global clients turned to the company to cut costs amid economic uncertainty.
: Outsourcing company Wipro's quarterly net income was 14.8 billion rupees ($291 million). Sales rose 19 percent, as its global clients turned to the company to cut costs amid economic uncertainty.
S&P lowers outlook for Infosys, TCS, Wipro to negative
Rating agency Standard & Poor's (S&P) Wednesday revised outlook for three top Indian information technology companies -- Infosys, Tata Consultancy Services (TCS) and Wipro -- to negative from stable.
Rating agency Standard & Poor's (S&P) Wednesday revised outlook for three top Indian information technology companies -- Infosys, Tata Consultancy Services (TCS) and Wipro -- to negative from stable.
Ratings downgrade was inevitable: Wipro
Downgrading of India's sovereign rating to negative from stable by global rating agency Standard & Poor's (S&P) was a cause for concern though inevitable due to multiple factors, a senior Wipro executive said Wednesday.
Downgrading of India's sovereign rating to negative from stable by global rating agency Standard & Poor's (S&P) was a cause for concern though inevitable due to multiple factors, a senior Wipro executive said Wednesday.
BSE Sensex falters on S&P action, Wipro outlook
The BSE Sensex fell on Wednesday after S&P cut the country's outlook to negative, reinforcing concerns about worsening fundamentals for the economy, while Wipro dropped after issuing a muted
The BSE Sensex fell on Wednesday after S&P cut the country's outlook to negative, reinforcing concerns about worsening fundamentals for the economy, while Wipro dropped after issuing a muted
Sensex ends 56 points down ahead of F&O expiry
A benchmark index for Indian equities markets closed 56 points lower Wednesday in choppy trade ahead of April futures and options expiry Thursday and after rating agency Standard & Poor's cut India's growth outlook from stable to negative.
A benchmark index for Indian equities markets closed 56 points lower Wednesday in choppy trade ahead of April futures and options expiry Thursday and after rating agency Standard & Poor's cut India's growth outlook from stable to negative.
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