Kurien the newly appointed CEO of Wipro is a Mallubhain. He is a foul mouthed haggard fella. He has asked his managers to cut 50% of the 'Horizontal' employees and send them home. He is doing it to increase the net profit in next two quarters. Insider Talk ! Hence mallus jobs are safe in wipro its the northies who should be worried though ! hehehehe
Re: wipro share prices equal to the price of Toilet tissue papers
by suresh vaswani on Feb 05, 2011 05:30 PM
Premji planning to flee like Muhammad Hosni Sayyid Mubarak.
He theatens gov. to flee country by taking money alolong with him.
85% shares of wipro owned by Premji and probably another 5% by top officials like this CFO. WHo cares if WIPRO shares come down even if by 5-10%. DOESN't matter to institutional investors or even big local retail investors
Re: It doesn't matter
by Vaidhy Narayanan on Feb 05, 2011 08:37 AM
sorry i Meant to say stock market wont be down majorly due to these stuff. But wud be interesting if wipro becomes next satyam :-)
if Chief Financial Officer is slling out stcok, he knows what is coming...not a good sing for the company's future...Please if you hold wipro stock, it is time to follow cfo's....
What Azim Premji did was to move his Shares to his Charity...Benefit: He could encash his shares without raising eyebrows. He got a good name that he is doing charity. Public and media interest ends thereafter.
Narayan Murthy did the same thing: Sold shares and declared that he is investing in his own innovation foundation Same benefits...
Now there is nothing wrong in enjoying the fruits of your success, it is their own money afterall.
Its just that the market will react very sharply if the promoters and CxOs start selling their own shares.
