Wipro share price target
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Wipro Employee To Get Bumper Promotion This Year
Wipro board has decided to give promotion to its younger talents with a experience of 5 to 8 years. Company is planning to to give promotion to 5000 employee this year. This moves comes to retain its employee. As its peers such has Infosys has seen high attrition in the 3-5 years experience as their is a global demand in such skills.
Employess are shifting to other IT services such as cloud computing or artificial intelligence driven operations. Wipro had also paid retention bonus of Rs 1 lakh to freshers who were hired from campuses and have completed one year with the company.
By this move Wipro has reduced its attrition in the quarter to September to 17%, lower than previous quarters.
Also read – Wockpharma share price target.
Wipro Q2 results beats estimates profit climbs 36% yoy
Wipro has recently came out with its results and company has reported a 35.82% yoy rise in consolidated net profits at Rs. 2561.30 cr for the September quarter comparing with Rs. 1885.70 cr in the corresponding quarter last year.
Market experts were expecting profit of Rs. 2303 cr.
Wipro Enterprises’ FMCG brand, Wipro Consumer Care and Lighting has allocated Rs. 200 Cr to its venture fund — Wipro Consumer Care-Ventures. The fund will invest in 10 startups in the personal and home care space.