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Wipro gives higher guidance for fourth quarter

In a regulatory filing to the Bombay Stock Exchange (BSE) on Monday, the IT bellwether said revenue from IT services business would be in the range of $1,875-1,912 million for last quarter (Q4) of this fiscal (FY 2016)

 

Software major Wipro Ltd has projected higher revenue guidance from its IT services business for fourth quarter (January-March) despite not achieving a similar target for third quarter (Oct-Dec) of this fiscal (2015-16).
 
In a regulatory filing to the Bombay Stock Exchange (BSE) on Monday, the IT bellwether said revenue from IT services business would be in the range of $1,875-1,912 million for last quarter (Q4) of this fiscal (FY 2016).
 
Though the city-based outsourcing major said in October that revenue from its flagship business (IT services) would be in the range of $1,841-1,878 million for quarter ending December 31, it reported $1,838 million, a year-on-year (YoY) growth of 2.4 percent and 0.3 percent sequentially, with $1 at Rs.66.99.
 
In constant currency, however, IT services revenue grew 6.3 percent YoY and 1.4 percent sequentially in dollar terms and nine percent YoY in rupee terms.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
 

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Reliance Communications, Jio announce spectrum pact

The pact for trading involves a change in spectrum allotment from the Anil Ambani-led Reliance Communications to Mukesh Ambani-led Reliance Jio over nine circles and that for sharing between the two companies covers 17 circles, the two entities said

 

The communications services companies of the two Ambani brothers on Monday announced agreements for trading and sharing of scarce airwaves, or radio frequency spectrum, in the 800 MHz band, covering virtually the entire country. A roaming agreement is also on cards.
 
The pact for trading involves a change in spectrum allotment from the Anil Ambani-led Reliance Communications to Mukesh Ambani-led Reliance Jio over nine circles and that for sharing between the two companies covers 17 circles, the two entities said.
 
“The spectrum arrangements between Reliance Jio Infocom and Reliance Communications will result in network synergies, enhanced network capacity and will optimise spectrum utilisation and capex (capital expenditure) efficiencies,” the companies said in separate statements.
 
“Both operators anticipate considerable savings in operating costs and future investment in networks.”
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
 

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China shuts down, relocates 583 chemical works from blast site

A total of 85 enterprises working with hazardous chemicals in the area were closed or relocated after safety checks concluded

 

A total of 583 chemical works were tallied during district security check in Binhai new area of China's Tianjin municipality which will be closed or relocated.
 
These include 430 hazardous chemical factories, 89 companies transporting dangerous materials, 61 companies dealing with dangerous cargo at Tianjin Port and three firework warehouses, Xinhua reported.
 
A total of 85 enterprises working with hazardous chemicals in the area were closed or relocated after safety checks concluded.
 
Among the 85 enterprises on the "red" list, nine were corrected, 10 have worked out plans for relocation and the remaining 66 have signed a deal with the government to restructure, Xinhua reported.
 
On August 12, two explosions ripped through residences and a warehouse storing hazardous chemicals at Tianjin Port.
 
The blast left 173 people dead which included 104 fire-fighters.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
 

 

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