India’s largest IT firm by market cap ditched by FIIs for 10 quarters in a row!
While TCS reported strong numbers for the December quarter, it wasnt good enough to entice investors as risks to earnings growth persists amid the macroeconomic slowdown in Europe and US.
Wipro: Employee union writes to labour dept over firm terminating offers of 452 freshers
Earlier today, NITES had stated that it 'strongly condemns the unethical layoffs done by Wipro' and will be submitting a complaint to the labour department for an inquiry.
Employee union to approach labour department over Wipro terminating offers of 452 freshers
The Nascent Information Technology Employees Senate (NITES), a union of IT employees, said that it 'strongly condemns the unethical layoffs done by Wipro'
Wipro lays off 452 freshers for ‘poor performance’ in internal assessment
In the termination letter that was sent by Wipro to the affected employees, the company said the freshers were supposed to cough up the Rs 75,000 that the company spent on their training programme, but the amount has been waived off.
Revenue from both the U.S. and Europe, which account for about 80% of the company's total revenue rose in the third quarter, despite rising concerns over growth and tech spending in export markets, especially Europe.
IT stocks busy taking revenge as investors ignore downgrades after Q3 results
A sharp slowdown in net hiring, muted growth outlook in 4Q and a potentially slower conversion of bookings to revenues points to a sharp growth moderation for Indian IT firms. However, falling attrition and ongoing improvement in the employee pyramid should support margin recovery
Why TCS despite not meeting estimates for 7 out of 8 quarters has fallen the least? Mahantesh Sabarad answers
"Wipro has a considerable exposure on the energy side when it comes to its analysis from a vertical point of view and that has not yet turned stable. I would say what the investors look for in the stocks is the momentum gathering up in terms of top line through deal wins."
Buy Wipro; target of Rs 470: Emkay Global Financial
Emkay Global Financial is bullish on Wipro has recommended buy rating on the stock with a target price of Rs 470 in its research report dated January 14, 2023.
Wipro shares up 2% on Q3 results. What should investors do now?
Brokerages said Wipro's revenue growth of 0.6% QoQ CC was below Street estimates while EBIT margin uptick of 120 bps QoQ to 16.3% was a positive surprise.
Big Movers on D-St: What should investors do with Wipro, HDFC Bank and Avenue Supermarts?
It is trading within its all-important moving averages. On the higher time frame, there is a long consolidation and is trying to bottom the structure, which suggests much more upside potential in this counter.
IT biggies post 14-20% topline growth in Q3 as caution; optimism marks mixed earnings' commentary
Overall, the revenue growth band of the top-tier IT players was pegged at between 14-20 per cent for Q3FY23, compared to the year ago period. Seen sequentially, the topline growth for the large IT pack ranged between three per cent and eight per cent versus previous September quarter.
Dalal Street Week Ahead: 10 key factors that will keep traders busy
Overall, the experts expect that Indian equities will continue to consolidate in the coming week with focus largely on corporate earnings and global cues
Wipro CEO: Seeing shift in client priorities to deals that deliver rapid returns
On clients moving away from discretionary spends, CEO Thierry Delaporte added that the macro uncertainty drives a “certain level of volatility”, and on that front, there is a lag in conversion.
Wipro Q3 earnings: 6 key takeaways for Dalal Street
Wipro won deals worth $4.3 billion in the quarter, up by 26% YoY, with large deal bookings rising by 69% YoY. The growth in large deal booking was much stronger than the 24% growth reported for the September quarter.
“Our top pick would remain Infosys which we have been bullish on since the last two-three quarters. Within the IT pack, we like Infosys only and last quarter we upgraded HCL Tech from hold to buy. The second bet would be HCL Tech. We have a buy on Wipro but after this commentary, we would able to come out with details in terms of whether we will maintain the positive stance”
Wipro announces interim dividend of Re 1 for FY23; Jan 25 record date
“Payment of interim dividend of Rs. 1/- per equity share of par value Rs. 2/- each to the Members of the Company as on January 25, 2023, being the Record Date. The payment of Interim Dividend will be made on or before February 10, 2023,” said the company in an exchange filing.
Wipro attrition rate moderates for 4th quarter to 21.2%
Voluntary attrition moderated 180 bps from the previous quarter, landing at 21.2% for the trailing 12 months for the quarter," Wipro said in its earnings release. This was the fourth quarter where the attrition rate has moderated
Corporate Radar: Multibagger chemical stock to trade ex-split; Vijay Kedia stock to mull fund raising & more
Choice International: This stock held by Madhusudan Kela stock will also release its results today. The company is among the leading financial services conglomerate catering globally. In the September quarter, the companys net sales were at Rs 74.07 crore, 21% higher on a year-on-year basis.
Wipro Q3 preview: Here’s 5 major metrics that Dalal Street will watch out for
Wipros peers Tata Consultancy Services and Infosys reported strong numbers for the third quarter, with the latter also raising its revenue growth guidance for the current financial year.It will be interesting to see how Wipro expects the March quarter to pan out. The software major usually gives quarterly guidance.
Booster shot: ADRs of Infosys, Wipro rise on strong Q3 results from peer TCS
“We are pleased with our strong growth in a seasonally weak quarter, driven by cloud services, market share gains through vendor consolidation, and continued momentum in North America and UK,” said Rajesh Gopinathan, chief executive officer and managing director.
What to expect from TCS Q3 results? Apurva Prasad answers
I think most of the forward-looking indicators are things which would be very important. So investors would be looking at the deal booking numbers and the kind of hiring intensity. I think these are couple of lead indicators that one should be looking at.