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Shrikant Chouhan of Kotak Securities advised that contra traders can take a long bet near 17,700 with a strict 16,650 support stop loss, while partial profit booking is advisable between 18,100 to 18,200 level..

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Ntpc 124.25 -1.95 -1.55
Nhpc 27.95 0.20 0.72

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From Rs 2 per Week to Billion Dollar Company, Journey of IT Behemoth

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Wipro founder Azim Premji‘s grand father built one of the largest rice trading businesses that evolved into a diverse, multi billion-dollar enterprise 75 years later, by starting out with Rs 2 per week. “But (it was) on one simple principle – he was honest,” Premji said in the coffee table book, The Story of Wipro.

Wipro, one of the largest IT companies in India, recently celebrated 75th anniversary.  Premji, launched the coffee table book titled as The Story of Wipro. The Story of Wipro, published by Westland Publications, encapsulates the tremendous journey of Wipro which pivoted to multiple businesses over the years. IT major’s journey from vegetable oil manufacturing company to a diversified business. Azim Premji, took to Twitter said, The Story of Wipro is also the story of Azim Premji since he was at the helm for 53 of the 75 years.

“I learnt from my mother probably the most. Because she was a qualified doctor, she devoted her time to building a children’s orthopedic hospital for crippled children. She would run to Delhi to fund it and we were not wealthy at the point of time. She would fight with the government and fight with rich industrialists to give her donations,” Premji said in an interview.

Premji, talking about his family and parents said that his family adhered to one principle of not compromising with values. Speaking about his father Mohammed Hussain Hasham Premji, who took over the trading company when he was just 21. Premji’s mother Gulbanoo Premji, was also not averse to challenges either, who fought to build a children’s hospital.

Mohamedhusain Hashem Premji, father of Azim Premji started Western India Products Ltd at Amalner in Maharashtra on December 29, 1945, for manufacturing vegetable and refined oils. Following the death of his father in 1966, Premji dropped out of Stanford University and took over the company’s reins. Similar to his father, Azim Premji was at the helm of the company at the age of 21.

“The concept of standing for something and being consistent and not compromising on something got inculcated very early in me,” Premji said.

The success of the IT giant can be gauged from the fact that in 2000, Wipro reached the milestone of $1 billion revenue and got listed in the New York stock exchanges. The company’s revenue in FY21 was $8.1 billion.

After leading the firm for almost 53 years, Premji stepped down from his role as executive chairman of Wipro on July 31, 2019, His elder son Rishad Premji, who was the then chief strategy officer at Wipro, took over as the executive chairman. Following his resignation, the company appointed Thierry Delaporte, who took over as the CEO in July 2020, after the exit of Abidali Neemuchwala early in 2020.

In addition to the straight and simple lifestyle, frugality, Premji is a man with a golden heart, he is well known for his compassion and philanthropy.

According to EdelGive Hurun India Philanthropy List 2020, Premji has donated Rs 7,904 crore, only followed by HCL co-founder Shiv Nadar who has donated Rs 795 crore. Currently Premji’s network is about $39.2 billion and has donated significant part of his wealth. Azim Premji Endowment Fund owns 13.6 percent of the promoter holding in Wipro and has the right to receive money earned from promoter shares, the report said. Azim Premji Endowment Fund is an entity set up by Premji to carry out his philanthropic activities.

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Virat Kohli goes past 10,000 runs in T20 cricket

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India captain Virat Kohli on Sunday reached a coveted milestone of 10,000-run mark in all forms of T20 cricket (international, domestic and franchise) during his side Royal Challengers Bangalore’s IPL match against Mumbai Indians here.


Playing in his 314 T20 match, Kohli pulled his India team-mate Jasprit Bumrah for a six to get the milestone in the fourth over after RCB were sent in to bat.


Kohli, who is set to step down from RCB captaincy at the end of this season, had come into the match with 13 short of 10,000 runs.


The 32-year-old has played 298 innings before Sunday’s match and has scored runs at an average of 41.61 with the help of five hundreds and 73 fifties. His highest individual score was 113. His career strike-rate has been an impressive 134 plus.

(Only the headline and picture of this report may have been reworked by the PRESS24 NEWS staff; the rest of the content is auto-generated from a syndicated feed.)

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Karnataka Covid-19 update: 775 new cases, 9 deaths in the last 24 hours

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Karnataka has reported 775 new cases of COVID-19 and 9 deaths, taking the total number of infections to 29.73 lakh and toll to 37,726, the health department said on Sunday.


The day also saw 860 discharges, taking the total number of recoveries in the state so far to 29,22,427. Out of 775 new cases reported on Sunday, 255 were from Bengaluru Urban, as the city saw 205 discharges and 3 deaths. Total number of active cases in the state is at 13,213. While the positivity rate for the day stood at 0.54 per cent, case fatality rate (CFR) was at 1.16 per cent. Out of 9 deaths reported on Sunday 3 are from Bengaluru Urban; Belagavi, Dakshina Kannada, Hassan, Kodagu, Mysuru and Shivamogga 1. Among the districts where the new cases were reported, Bengaluru Urban accounted for 255, Dakshina Kannada 99, Mysuru 81, Kodagu 55, Chikkamagaluru 52, followed by others. Bengaluru Urban district tops the list of positive cases, with a total of 12,45,490, followed by Mysuru 1,77,769 and Tumakuru 1,20,098. Cumulatively a total of 4.71 crore samples have been tested in the state so far, out of which 1,40,970 were tested on Sunday alone.




(Only the headline and picture of this report may have been reworked by the PRESS24 NEWS staff; the rest of the content is auto-generated from a syndicated feed.)

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PRESS24 NEWS has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

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