Active Stocks
Tue Mar 19 2024 13:01:07
  1. Tata Consultancy Services share price
  2. 4,020.00 -3.01%
  1. Tata Steel share price
  2. 149.90 0.20%
  1. Bharti Airtel share price
  2. 1,230.20 0.42%
  1. Power Grid Corporation Of India share price
  2. 259.90 -1.92%
  1. ITC share price
  2. 410.00 -1.77%
Business News/ Companies / Wipro sees demand picking up in 2nd half FY10
BackBack

Wipro sees demand picking up in 2nd half FY10

Wipro sees demand picking up in 2nd half FY10

Premium

Bangalore: Indian outsourcer Wipro Ltd sees demand picking up in the second half of 2009/10 and some stability is returning to the nervous business environment, the joint-CEO of its IT business said on Thursday.

“The panic that was there seems to be abating. We are seeing some stability," Girish Paranjpe told reporters. “Hopefully we should see some upturn in the second half."

He hoped most of the price cut negotiations with clients would end by June.

Last month, Wipro beat expectations with a 4% rise in quarterly net profit, but forecast a fall in June quarter information technology revenue as the global downturn hits outsourcing demand.

Wipro, which offers IT solutions such as system integration, software application and back-office services, counts Citigroup, telecoms gear makers Cisco, Nokia Siemens Networks and Credit Suisse as clients.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 08 May 2009, 11:04 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie