Wipro touched an intraday high of Rs 640.70 and an intraday low of Rs 631.25. At 12:33 pm, the share was quoting at Rs 638.50, up Rs 9.45, or 1.50%. According to the sources, Goldman Sachs is going to issue IT contract worth USD 500700 million. TCS, Infosys, Wipro, HCL,Cognizant and IBM are in race, reports CNBCTV18.
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IT major Infosys plans to reduce the usage of sub-contractors and perform their work in-house particularly at cheaper offshore locations, a top company official said. “We found during our reviews that a large number of client work had been outsourced to sub-contractors. In such cases, we decided to reduce the usage of sub-contractors and use our (own) facility,” Infosys’ chief mentor, NR Narayana Murthy, said on the sidelines of an industry conference in Mumbai. The company has also taken a new concept “more from the same”, which will scrutinise budgets and look after areas where previously unnoticed expenses could be eliminated, he said. Infosys ...
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For India’s top tech firms seeking to grow revenues from Europe in order to offset lower spend by American clients, it’s going to be Key facts on India’s IT industry a long, arduous journey, said research firm Forrester on Wednesday. The US, which accounts for over half of India’s $60-billion software outsourcing industry, has traditionally been the top market for Tata Consultancy Services (TCS), Infosys and Wipro, among many others. However, over the past few years, Indian tech firms have been trying to mitigate their high American exposure by focusing on Europe’s $14-billion market for software and back-office services. “You cannot replicate the US ...
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TCS, Infosys & Wipro to bag $1 bn ordersAs US economy starts showing signs of recovery, Indian outsourcing vendors are set to gain offshoring projects worth around $1 billion. Top BPOs | Top BPO acquisitions... read full »
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The Indian government’s ambitious ‘Passport Seva’ project, which seeks to give out passports in three days, has missed another deadline – Friday, the 13th of November. This will be the third time the external affairs ministry’s project – a major e-governance initiative – will not meet its launch date. Officials are blaming software glitches for the delay. The first deadline was in June, then October, before the revised date of November 13 was arrived at. The pilot project was to take off in Bangalore. Minister of State of External Affairs Shashi Tharoor had said in a tweet dated October 30 that the project “should ...
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