#ASHOKLEY #CGPOWER #WIPRO
*Stocks in News*
Wipro: The stock will be in focus as the IT services provider has received a multi-year contract to deliver Service integration and management (SIAM) services to HM Treasury (HMT). Wipro and HMT will collaborate to enable end-to-end SIAM services, from strategy, design, and implementation to running business-as-usual services such as day-to-day coordination of service integration across HMT's vendors.
Max Healthcare Institute: HDFC Asset Management Company bought 0.4 percent equity stake in the company via open market transactions on August 16. With this, its shareholding in the company stands increased to 5.18 percent, up from 4.78 percent earlier.
Greenpanel Industries: Rating agency ICRA has upgraded the long term ratings of the company to A+ (stable) and short term ratings to A1+, from A and A1, respectively.
Metropolis Healthcare: Vijender Singh has resigned as the Chief Executive Officer of the company. The company has agreed to release him from the position of CEO from the closing of business hours of August 17.
Talbros Engineering: The company has commenced construction on land acquired admeasuring 2.2 acre in Faridabad for setting up of new production unit.
SecMark Consultancy: The company said the meeting of board of directors is scheduled to be held on August 23 to consider issue of bonus shares to the equity shareholders. The board will also approve the proposal of migration of company from SME platform of BSE to Main Board of BSE Limited as well as listing on the Main Board of National Stock Exchange.
#WIPRO #METROPOLIS #MAXHEALTH #TALBROAUTO
Wipro’s Margin Crisis💵🔻🔻
Wipro has decided to hold back variable payouts for the June quarter due to the pressure on its operating margin.
According to an email received earlier, Employees belonging to C bands and above (managers to C-suite level) would not receive any variable payouts while associates in A & B Bands (freshers to team leader levels) would receive 70% of target variable pay for the quarter subject to billability threshold.
Email said that the company’s Q1 operating margin is as lower as 15% due to inefficiency in our talent supply chain, project margins and investments in talent, technology during the current quarter. Given the underperformance of the margins, variable pay took a hit.
While announcing the quarterly results, the company's CFO stated that margins will improve going forward because they have bottomed out over the last couple of quarters. They have been making conscious investments in the business, so margins have been bottoming out all along.
Do you think Wipro’s margins are going to improve going forward?
#WIPRO Wipro 442 approaching 1st destination of 445 above that 455 final destination
Wipro Q1 Results | Net profit tanks 21% YoY to Rs 2,564 crore, revenue grows 16%
#WIPRO will declare results on Jul 20, 2022
Please plan your trades accordingly 😎
Disc-I'm not a sebi registered analyst
This is only for educational purposes
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The tech company has signed a pact with Eros Investments to scale the Artificial Intelligence (AI) and Machine Learning (ML) based content localisation solutions for subtitling, dubbing services.
*Stocks in News*
Bank of India: The public sector bank has changed its Repo-Based Lending Rate (RBLR) to 7.75 percent with immediate effect, from 7.25 percent earlier. The revision is on account of the upward revision in repo rate announced by the RBI, on June 8 in its monetary policy.
Punjab National Bank: The state-run lender has revised its Repo-Linked Lending Rate (RLLR) to 7.40 percent w.e.f. June 9, from 6.90 percent earlier. The bank has taken this decision especially after the RBI hiked the repo rate.
Wipro: The IT services company and ServiceNow will help Petrobras, the largest publicly traded company in Brazil, to advance its digital journey. The project aims to raise the level of service for internal users and reduce costs by modernising and aligning IT infrastructure processes with the business through a modern cloud solution focused on automation and integration.
Tata Power Company: Subsidiary Tata Power Solar has commissioned an EPC project of 450 MWDC for Brookfield Renewable India in Rajasthan. The company has set up over 8 lakh modules and completed them within a record 7-month timeframe. The project will produce over 800GWh of clean energy annually and will help avoid up to 600,000 tons of annual CO2 emissions.
Rail Vikas Nigam: Rail Vikas Nigam (RVNL) has entered into an agreement with "Kyrgyzindustry" for the execution of infrastructure projects in Kyrgyz Republic. Particularly the company is going to execute a railway line network on mutually agreed terms and conditions in Kyrgyz Republic.
BLS International Services: The company has acquired Mumbai-headquartered Zero Mass Private (ZMPL) – the largest business correspondent in the country –for Rs 120 crore. With this all-cash acquisition from the company's internal accruals, BLS International becomes the largest business correspondent (BC) network in India. BLS International now owns an 88.26 percent equity stake in ZMPL, and State Bank of India continues to hold 6.83 percent equity stake in ZMPL. ZMPL has been operating the largest BC network for State Bank of India (SBI) with around 11,500 active CSPs (around 15 percent of all the SBI BCs). The company has a pan-India presence with CSPs located across all states and union territories of India. Apart from SBI, ZMPL has contracts with Utkal Grameen Bank and Karur Vysya Bank.
Crompton Greaves Consumer Electricals: The company's Board of Directors on June 13 will consider a proposal to raise funds by way of issuance of debt securities on a private placement basis up to Rs 925 crore
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