Wipro announced the departure of its expatriate CEO Thierry Delaporte and the appointment of Srini Pallia as the new CEO. Delaporte, the first European executive to lead Wipro, will leave to pursue other interests outside the workplace. Pallia, a company veteran, will take charge on April 7. Wipro has been facing challenges and underperformance in recent years, and Delaporte’s tenure saw an exodus of senior leadership. The market saw the CEO transition coming, and experts believe that Pallia’s appointment brings stability to the company.
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Equity benchmark indices declined in early trade on Tuesday after rallying in the past four days amid weak trends from global markets and foreign fund outflows. The BSE Sensex declined 297.97 points to 73,574.32, while the Nifty dipped 86.05 points to 22,319.55. Major laggards include HCL Technologies, Tata Consultancy Services, ICICI Bank, Infosys, Axis Bank, and Reliance Industries.
Former chairperson of Steel Authority of India (SAIL), Soma Mondal, has been included in Forbes’ 2023 list of the World’s Most Powerful Women. She joins other Indian women like Finance Minister Nirmala Sitharaman, HCL Technologies Chairperson Roshni Nadar, and Biocon founder Kiran Mazumdar-Shaw. Mondal assumed the role of SAIL’s chairperson on January 1…
India’s No. 3 software-services exporter, HCLTech, has cut its revenue forecast for the current financial year due to softer-than-expected discretionary spending by its clients. The company expects organic revenue growth for fiscal 2024 to be between 4% and 5% in constant currency terms, compared to its previous forecast of 6% to 8%. The economic uncertainty caused by the pandemic has led to enterprises scaling down and delaying digital transformation projects.
