Wipro Limited is a staggering $ 5 billion Indian conglomerate with the services IT consulting, Business Process Outsourcing, Product Engineering Solutions and Technology Infrastructure Services. The headquarters are situated at Bangalore, India. Mr. Azim Premji is the current chairman of the Wipro Ltd. The 2009 revenue of the conglomerate is $ 4.98 billion with a net income of $ 0.82 billion and total assts stand at $ 5.38 billion. As of 30 June, 2009 there are 98,521 employees working in the Wipro Technologies.
Wipro was founded in 1947 by Mr. Azim Premji’s father at Amalner, Maharashtra, India. It was started as a vegetable oil trading company in an old mill at Amalner. After the unfortunate demise of his father in the year 1966 Mr. Azim Premji took over the control of Wipro at the young age of 21. He was a graduate from Stanford University in Electrical Engineering. Though initially his potential was doubted by many contemporary board members, but within no time he proved his abilities as a visionary and as a leader. The present growth and success story of Wipro is mostly because of the efforts of Mr. Azim Premji.
In 1977, the Indian Government asked IBM to stop its India operations, and then Wipro grabbed the opportunity to enter into the IT sector. Starting in 1979 it finished manufacturing of own computers in the 1981 and started selling them. During that period in 1980 they also started software developing fragment. The year 1992 show the Wipro’s expansion to the US. It recorded revenue growth of unbelievable 450% in between 2002 and 2007.
Wipro has three sister concerns namely Wipro Infrastructure Engineering, Wipro Infotech and Wipro Lighting. Wipro has proved to be a truly indigenous corporate success story for India. Now it is the 2nd largest IT company of India.
Buy Wipro with target of Rs 425-430 and stop loss of Rs 410, says Rahul Mohinder, technical analyst, on CNBC TV18. The stock is currently trading at Rs 412.15, down 1% on the BSE.
Buy Wipro with target of Rs 425-430 and stop loss of Rs 410, says Rahul Mohinder, technical analyst, on CNBC TV18. The stock is currently trading at Rs 412.85, down 0.9% on the BSE.
Sell Wipro with target of Rs 600 if it goes below Rs 627 and stop loss of Rs 637, says Anu Jain, technical analyst, on CNBC TV18. The stock is currently trading at Rs 633.05, up 0.4% on the BSE.
Buy Wipro with target of Rs 720 and stop loss of Rs 664, says Kunal Saraogi, technical analyst, on NDTV Profit. The stock is currently trading at Rs 675, down 0.6% on the BSE.
Exit Wipro on a rally to around Rs 700 or, if it crosses its resistance of Rs 732, to around Rs 750-770, says Prasad Kushe, technical analyst, on NDTV Profit. The stock is currently trading at Rs 666, down 0.8% on the BSE.