Wipro Stock Price, News & Analysis

Wipro Limited (NYSE: WIT) reported its financial results for the quarter and year ended March 31, 2021. Quarterly gross revenue reached Rs 162.5 billion ($2.2 billion), up 3.4% YoY, while IT Services revenue rose to $2,152.4 million, a 3.9% QoQ increase. Net income for the quarter was Rs 29.7 billion ($406.4 million), reflecting a 27.8% YoY increase. Despite a decline in annual IT Services revenue by 1.4% to $8,136.5 million, operating margins improved to 20.3%. The company announced its largest acquisition of Capco to enhance its financial services portfolio.

Wipro Limited (NYSE: WIT) will announce its fourth-quarter financial results for the period ending March 31, 2021, on April 15, 2021, post-market hours in India. A conference call with senior management will take place at 7:15 PM IST. Investors can access the audio of the call via a webcast. Key details, including various toll numbers for participation and a replay of the call, are also provided. Wipro is recognized for its strong commitment to sustainability and advanced technologies, employing over 190,000 staff globally.

Vulcan Cyber has secured a $21 million Series B funding round led by Dawn Capital to enhance its vulnerability remediation orchestration platform aimed at cloud and application security. The investment will support the launch of Vulcan Free, the first free risk-based vulnerability management platform, addressing a significant demand for effective remediation solutions. The company reported a 500% growth in annual recurring revenue (ARR) in 2020, highlighting strong market traction.

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) has been recognized as a Leader in NelsonHall's NEAT vendor evaluation for SAP Cloud Migration Services 2021. The evaluation assessed 15 providers on their effectiveness across various criteria, with Wipro excelling in legacy migration and SAP S/4HANA transformation. Harish Dwarkanhalli, President of Applications & Data at Wipro, emphasized the company's capabilities in digital transformation. The report highlights Wipro's strategic focus on targeted geographies and industries, enhancing its competitive positioning.

On March 9, 2021, Wipro Limited (NYSE: WIT) announced a partnership with IGEL to enhance cloud workspace delivery in hybrid work environments. Wipro will integrate IGEL OS with its Wipro virtuadesk™ Desktop-as-a-Service solution, leveraging platforms from Citrix and Microsoft. This collaboration aims to reduce costs, improve productivity, and enhance security for remote work. Balaji Subramanian from IGEL highlighted the significance of cloud solutions in today's economy, while Wipro's Satish Y emphasized the need for globally-focused technology to support diverse workforces.

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) announced that its subsidiary, Appirio, is assisting National Grid in transforming its business by providing an omnichannel customer experience for 68 million customers globally. Appirio's work in integrating a hybrid platform earned it the Salesforce Partner Innovation Award for MuleSoft. The project enhances connectivity across multiple marketing channels, eliminates data silos, and utilizes APIs, demonstrating significant operational efficiency for National Grid's customer service.

Wipro Limited (NYSE: WIT) has announced its acquisition of Capco, a global management and technology consultancy, for $1.45 billion. The transaction is expected to close in the second quarter of 2021. Capco, headquartered in London, specializes in digital, consulting, and technology services primarily for financial institutions worldwide. CD&R had previously acquired a 60% stake in Capco in July 2017 and enhanced its capabilities during its ownership. This acquisition reflects Wipro's strategy to strengthen its position in technology-related professional services.

Wipro Limited (NYSE: WIT) has signed an agreement to acquire Capco, a management and technology consultancy serving financial institutions globally. This strategic acquisition enhances Wipro’s capabilities in digital transformation, consulting, and technology services, positioning it as a major player in the banking and financial services sector. Capco brings over 5,000 consultants and a strong client portfolio to Wipro. The deal is expected to close by June 30, 2021, subject to regulatory approvals. The acquisition aims to deliver bespoke, integrated solutions to clients.

Wipro Limited (NYSE: WIT) is celebrating its 25-year partnership with Cisco (NASDAQ: CSCO) by launching a new Cisco Business Unit. This unit aims to enhance digital transformation solutions utilizing Cisco technologies, reflecting Wipro's commitment to this strategic alliance. The partnership has positioned Wipro as a leading digital transformation partner, focusing on key areas like Intent-Based Networking, Hybrid Cloud, and Security. Wipro's established service capabilities and dedicated workforce are set to accelerate customer digitization and operational efficiency.