Addressing the company's 68th Annual General Meeting here, he said the firm was focused on profitable growth and enhancing shareholder value. Premji also said the company will make investments in both organic and inorganic growth areas.
Wipro Chairman Azim Premji today said the company is focused on strong profitable growth, and will make investment in both organic and inorganic growth areas.
Addressing the company's 68th Annual General Meeting here, he said the firm was focused on profitable growth and enhancing shareholder value. Premji also said the company will make investments in both organic and inorganic growth areas.
This comes less than a week after Wipro announced it has entered into a multi-million dollar dual pact with Canada's ATCO through which India's third largest software services company will provide a complete suite of outsourcing solutions to the Canadian firm as well as acquire its IT services arm. He further said Wipro is investing on its staff and training them.
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In addition, Premji also told investors that succession plans for the leadership at Wipro "is strongly in place". This come in the wake of concerns over leadership succession plans in IT services firms, which have seen series of top level exits at Infosys , another IT major.
The Wipro Chairman also informed that sanction from Karnataka Government to start new SEZ is long over due. Premji had earlier this month met Karnataka Chief Minister Siddaramaiah and sought speeding up of departmental clearances, including those relating to environment and forest, as part of setting up of Kodathi SEZ project here.
The SEZ is expected to create around 25,000 jobs in the first phase.
Wipro stock price
On July 23, 2014, Wipro closed at Rs 569.35, up Rs 10.45, or 1.87 percent. The 52-week high of the share was Rs 610.50 and the 52-week low was Rs 368.70.
The company's trailing 12-month (TTM) EPS was at Rs 29.68 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 19.18. The latest book value of the company is Rs 118.98 per share. At current value, the price-to-book value of the company is 4.79.
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