BFSI Propels Wipro's Q4 Profi

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THE HINDU DELHI WEDNESDAY, APRIL 17, 2019 BUSINESS 13 EEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

market watch Wipro okays Phishing won’t impact 16-04-2019 % CHANGE Sensex dddddddddddddddddddddd 39,276 ddddddddddddddd0.95 BFSI propels Wipro’s Q4 profit ₹10,500crore US Dollardddddddddddddddddddd 69.60 ddddddddddddd-0.25 Gold ddddddddddddddddddddddddddd 32,790 ddddddddddddddd0.52 our financials: Wipro Brent oil ddddddddddddddddddddd 71.22 ddddddddddddddd0.09 The information technology major’s profit rises 38% while revenue increases 9% buyback ‘Some employee accounts, clients hit’ Special Correspondent slates to a sequential growth Special Correspondent Bengaluru of 1% to 1% excluding the im Bengaluru Special Correspondent NIFTY 50 targeting at least a dozen IT and digital services firm pact of the divestment of Bengaluru PRICE CHANGE Wipro is going in for a fresh Wipro customer systems.

Adani Ports...... 395.65...... 8.60 Wipro has reported a 38%in Workday and Cornerstone ₹10,500crore share buy Wipro has clariﬁed that the Wipro customers traced Asian Paints...... 1459.00...... 27.45 crease in its net proﬁt for the on Demand business which back, for which it recently recent phishing attack it en malicious and suspicious Axis Bank ...... 771.10...... 8.25 fourth quarter ended March was concluded in the March received clearance from countered will not have any network reconnaissance ac Bajaj Auto ...... 3068.45...... 33.40

Bajaj Finserv...... 7578.95...... 69.80 31 to ₹2,483 crore compared quarter, said the company. SEBI. material impact on the com tivity back to partner sys Bajaj Finance ...... 3032.50...... 10.25 with ₹1,803 crore in the cor The board, that met pany’s ﬁnancials or clients. tems that were communi Bharti Airtel ...... 348.75...... 1.05 responding quarter last year. Weak quarter here on Tuesday, approved The company said on cating directly with Wipro’s BPCL...... 357.50...... -0.90

Britannia Ind ...... 3020.50...... 22.05 Backed by a strong perfor “Q1 is seasonally a weak a proposal to buy back Tuesday it was investigating network, the blog said. Cipla ...... 559.35...... -6.95 mance in the banking and in quarter for us, which is re 323.1 million equity shares, an advanced phishing attack However, Wipro rub Coal India ...... 251.60...... 1.60 surance business (BFSI) , the ﬂected in our guidance. The or 5.35% of the total paid that had aﬀected some em bished the claim of the blog Dr Reddys Lab ...... 2825.10...... 32.30

Eicher Motors...... 21270.55...... -61.40 fourth quarter revenue rose outlook also factors in com up equity capital, at ₹325 ployee accounts and cus that this was a multimonth GAIL (India)...... 351.60...... -2.45 1.4% in reported terms and pletion of large programmes per share, from the share tomers, causing it to release intrusion from an assumed Grasim Ind ...... 883.55...... 17.55 1% in constant currency and delayed start of fresh holders on a proportionate a security patch instantly statesponsored attacker. HCL Tech...... 1107.05...... 3.80 HDFC ...... 2026.70...... 12.45 terms. Addressing the media, Wi The company’s flagship IT projects. basis by way of a tender off and conduct a forensic in “The alerts were detected HDFC Bank...... 2305.05...... 16.25 Total revenue for the pro CEO and ED Abidali Z services revenue stood at “That said, we are confi er. vestigation by its partner a week ago and not months Hero MotoCorp ...... 2739.65...... 38.95 quarter stood at ₹15,006 Neemuchwala said, “Our $2,075.5 million, registering dent that our growth trajec Hindalco ...... 214.95...... 2.20 This is the firm’s third network into the intrusion. ago. We came to know about Hind Unilever ...... 1738.55...... 16.50 crore, a growth of 9% com teams have executed well on a quarteronquarter growth tory will improve from Q2 on buyback programme. Emails of some of the a potential abnormal activi Indiabulls HFL ...... 832.45...... -2.30 pared with the yearearlier our strategy which has re of 1.4%. The IT services oper back of strong order book The last one, worth employees were hacked and ty in our network and this ICICI Bank ...... 407.00...... 14.25 period.Total revenue for the sulted in consistent improve ating margin for the quarter and healthy pipeline,” he IndusInd Bank ...... 1815.15...... 66.25 ₹11,000 crore was in No Wipro had to quarantine was related to a few em Bharti Infratel ...... 312.95...... 4.50 fiscal stood at ₹58,906 crore, ment of yearonyear growth was 19% , an increase of said. vember 2017 at ₹320 per them and trigger a security ployee accounts. These ac Infosys ...... 724.10...... -3.40 a 7.5% increase compared to each quarter. We have built a 4.4%. On localisation, the com share while its first buy protocol, including pass counts were subject to ad Indian OilCorp...... 155.70...... 1.70

ITC ...... 307.20...... 1.70 the ₹54,487 crore recorded strong foundation on the On guidance, Wipro ex pany said it was hiring peo back in December 2016 word change. vanced phishing activity. In JSW Steel...... 291.20...... -0.95 in the yearearlier period. back of a healthy order book pects its IT services revenue ple in the U.S., U.K., Austra was worth ₹2,500 crore. As per security blog Kreb a year, we investigate some Kotak Bank ...... 1386.40...... 12.55 Proﬁt for the period was and continued investments to be in the range of $2,046 lia, Canada, Singapore, Wipro founder Azim sOnSecurity, Wipro’s sys 4.8 million malware alerts L&T...... 1381.40...... 24.50

M&M ...... 688.10...... 4.90 ₹9,003 crore against ₹8,008 in big bet areas of cyberse million to $2,087 million for Africa and West Asia. “We Premji and his family may tems were seen being used and this is common in all en Maruti Suzuki ...... 7458.55. .... 106.05 crore in the yearearlier pe curity, engineering services the first quarter of fiscal have increased localisation participate in the buyback as jumpingoff points for terprises,” said Wipro COO NTPC ...... 137.55...... 0.80 riod, a 12.42% increase. and cloud.’’ 2020. The guidance tran in the U.S. to 64.5%.” programme. digital phishing expeditions Bhanumurthy BM. ONGC ...... 160.45...... 4.00

PowerGrid Corp ...... 196.85...... -1.20

Reliance Ind ...... 1343.75...... 3.60

State Bank ...... 315.75...... 0.15

Sun Pharma ...... 462.55...... 3.90 Tata Motors ...... 230.50...... -1.25 HDFC MF justiﬁes giving more Tata Steel ...... 553.25...... 0.10 Sensex at alltime high; banks lead rally TCS ...... 2131.80...... 18.50

Tech Mahindra ...... 798.10...... 0.90 Titan ...... 1120.05...... 29.90 time to Essel promoters Investor sentiment buoyant on positive global trend and strong foreign inflows UltraTech Cement...... 4255.05...... 29.75 UPL...... 933.90...... 4.15 Special Correspondent ground and pushed up the than 1% while Nikkei, Kospi Vedanta ...... 184.95...... 0.25 Mumbai Wipro ...... 280.90...... -6.80 Investors told to roll over FMPs or redeem at current NAVs benchmarks. and Jakarta Composite along YES Bank...... 266.45...... 0.95 Equity indices closed at new On the BSE, a total of 1,292 with the Chinese bench Zee Entertainment ...... 415.55...... -1.05 Special Correspondent best course of action availa er or investors can redeem highs on Tuesday as investor stocks gained ground as marks also moved MUMBAI ble with the lenders,” said a their units at the prevailing sentiment remained upbeat against 1,279 declines. “Nifty northwards. HDFC Mutual Fund, one of statement released on Mon net asset value (NAV). on the back of a positive and Sensex touched new all In India, investor senti EXCHANGE RATES the country’s largest fund day by the fund house. HDFC MF, which had an trend in the global markets time highs and closed at an all ment has remained buoyant Indicative direct rates in rupees a unit except yen at 4 p.m. on April 16 houses in terms of assets un “This option [giving time AUM of over ₹3.44 lakh crore and strong foreign flows in time high on Tuesday as glo in the recent past with fo CURRENCY TT BUY TT SELL der management (AUM), has till September) offered a as on March 31 as per Value the Indian equity market. bal markets remained suppor reign investors pumping in US Dollar...... 69.40...... 69.72 said that the decision of giv good chance of higher/com Research, has four fixed ma The 30share Sensex tive,” said Deepak Jasani, head significant amount of money Euro ...... 78.45...... 78.82 ing Essel Group promoters plete recovery against debt turity plans which had in gained 369.80 points or — retail research, HDFC Secur in Indian equities. Foreign British Pound...... 90.78...... 91.21

Japanese Yen (100) . .. . 61.98...... 62.27 more time to complete the exposures,” it added. vested in Essel Group securi 0.95% to close at a new high ities. portfolio investors have in Chinese Yuan ...... 10.34...... 10.39 strategic sale process was ta HDFC MF, which has an ties maturing in the coming of 39,275.64. This is only the high for the Nifty was “Banks and auto, the tradi vested over ₹14,000 crore in Swiss Franc ...... 68.97...... 69.32 ken in the best interest of in exposure of ₹1,156 crore to days of April. The cumula second time that the bench 11,738.50 on August 28, 2018. tional high beta sectors, did the current month, follow Singapore Dollar ...... 51.27...... 51.51

Canadian Dollar...... 51.92...... 52.16 vestors who could stand a wards the troubled Essel tive exposure towards Essel mark has closed above the While many of the side well as did oil and gas, tele ing the previous month’s net Malaysian Ringitt ...... 16.78...... 16.88 good chance of higher or Group, has given two op Group in the four schemes is psychological 39,000mark counters lost ground on com, capital goods and con inflows of nearly ₹34,000 Source:Indian Bank complete recovery against tions to its investors who pegged at ₹356 crore. — the first instance was on Tuesday, index constituents sumer durables. A close above crore. the debt exposure. have put money in fixed ma HDFC MF had also an April 2, when it closed at from the financial sector 11,760 for 12 sessions more Meanwhile, Polycab India “... riskreward seemed turity plans (FMPs) that hold nounced the extension of its 39,056.65. such as ICICI Bank, IndusInd would convince fence sitters made an impressive debut BULLION RATES CHENNAI clearly in favour of providing debt securities of Essel FMP — Series 35 — a close The broader Nifty too Bank, Axis Bank, HDFC Bank to jump in,” he added. on the bourses with the April 16 rates in rupees with previous rates in parentheses additional time to Essel Group. ended scheme due for ma ended at a new high of and Kotak Mahindra Bank Most of the global markets stock listing at ₹633 against Group. Thus, in the given cir The maturity date of such turity on April 15, by 380 11,787.15 while gaining 96.80 along with ONGC, L&T and remained strong on Tuesday its issue price of ₹538. It set Retail Silver (1g) ...... 40.3...... (40.1)

22 ct gold (1 g) ...... 3031...... (3016) cumstances, this was the FMPs can either be rolled ov days. points. The previous closing the auto majors gained with Hang Seng gaining more tled the day at ₹655. #70929 Choksi’s Gitanjali Gems ‘Das may be indicating second headed for liquidation generation policy signal’ Time overrun cited to end resolution It is similar to U.S. Federal Reserve, says a SBI report Press Trust of India House branch in south Mumbai Mumbai’s tony Horniman SPECIAL CORRESPONDENT akin to second generation Mehul Choksirun Gitanjali Circle area. Mumbai policy signals that Fed pro Gems, which owes over The lenders of Gitanjali The recent statement by Re vides to the market now,” ₹12,550 crore to 31 financial Gems have rejected a reso serve Bank of India (RBI) Go Soumya Kanti Ghosh, group creditors and a key player in lution proposal and have vernor Shaktikanta Das that chief economic adviser, SBI, the ₹14,000crore PNB voted for liquidation, citing suggested moving away wrote in a note. scam, is headed for liquida time overrun beyond the from the conventional mag tion as the committee of 180 days, the company in nitude of rate revisions that Reducing disconnect creditors has voted to end formed the exchanges on are in multiples of 25 bps The report said “second gen the resolution process citing Tuesday. (basis points), was indicative eration signals” will reduce time overrun. The committee of credi of second generation policy the disconnect with market Mr. Choksi and his ne tors met on March 28, and signals on the lines of the expectations in the subse phew Nirav Modi are ab with a majority of 54.14%, U.S. Federal Reserve, State quent press conference with sconding after the biggest fi rejected a plea to continue Bank of India said in a researchers and analysts. nancial fraud came to light with the resolution process, report. Shaktikanta Das The report says the intent in February 2018, and are and instead chose to go in In a speech last week, Mr. of the RBI Governor looked facing extradition from Anti for liquidation, it added. Das had said that calibrating Bank’s spring meetings at quite positive but seemed to gua and Britain, respective “The 180 days since the the size of the policy rate Washington DC. be futuristic. ly. Together, the unclene resolution process began and the size of the change it “We believe that such It also raises the question phew duo has defrauded ended on April 6. Since ex self can convey the stance of thinking signifies the RBI’s that when 25 bps rate cut, or the staterun Punjab Nation tension is not approved by policy. intent to use communication sometimes even a 50 bps al Bank of ₹14,000 crore bet the lenders, the next logical Mr. Das delivered the as a policy in itself rather rate cut is not able to initiate ween 2011 and 2017, using step is to go for liquidation,” speech on the sidelines of than being the policy state a transmission of rate cut, fake letters of undertaking the company said in a BSE the International Monetary ment being the vehicle for how an indicative rate cut of through the bank’s Brady filing. Fund (IMF) and World communication. These are 10 or 15 bps will work. ‘Banks have to mark IL&FS BSNL starts work on 5G accounts as NPAs after default’ Eyes those ‘untouched by mobiles’ Yuthika Bhargava Must follow master circular, SC judgment, says RBI counsel NEW DELHI Even as the Stateowned tel Press Trust of India master circular and the Su co BSNL is awaiting appro New Delhi preme Court judgment, val to get 4G spectrum from The RBI on Tuesday told the which recognises NPAs in the government, it has be National Company Law Ap the circular,” Mr. Jain said. gun work on making itself pellate Tribunal (NCLAT) According to him, the job 5Gready. that banks would have to of the regulator is to have the Stressing that the worst is classify the accounts of debt right policy for all the banks. over for the company, its ridden IL&FS and its group Mr. Jain further said that chairman and managing di companies as NPAs in terms banks were finalising their rector Anupam Shrivastava of its master circular and the accounts and needed clarifi said this fiscal, the focus Supreme Court’s judgment. cation from the NCLAT on would be on deploying new Anupam Shrivastava It is the obligation of the this. technologies with an aim to banks to mark any loan as The NCLATbench headed tap the nearly 50% of the ing today… 4G will, of NPA after a default of 90 portant for fair accounting by Chairman Justice S.J. population that is still “un course, be predominant. We days, and they cannot be re because it had early warning Mukhopadhaya said it would touched by mobile phones.” are also preparing for 5G lieved from doing that, the signals. “The whole thing is hear the Reserve Bank of In The PSU, which has a rollout. We should be po Reserve Bank of India (RBI) to have a transparent and dia on next date of hearing debt of about ₹16,000 crore, tentially ready for 5G roll said, adding that this was a fair accounting system, so on April 29. is likely to get 4G spectrum out, so that we are not left process every bank had to that the health of the institu The RBI moved the this year as part of a revival behind,” he said. follow. tion is not affected.” NCLAT seeking modification package being worked out He said that BSNL would “And whatever process, of its order that restrained by the Department of Tele be able to roll out 4G within ‘Early warning signals’ you are having for resolution banks from declaring ac communications. BSNL had 10 days of getting the spec Senior advocate Gopal Jain, in IL&FS, we are not on re counts of IL&FS and its first raised a request for the trum. “All equipment is rea representing the RBI, sub covery and the resolution group companies as NPAs. spectrum in April 2015. dy, most BTS’ are 4Gcom mitted before the NCLAT process, we are only saying According to the apex bank, “New technology deploy plaint. We only need a that true reflection in the banks have to record the po there was an overlap of ment was taken up for dis software update to get go books of the banks was im sition of NPAs in terms of the power. cussion in the board meet ing.” CM https://t.me/SSC4ExamsYK https://t.me/Banking4Exams https://t.me/UPSC4Exams