With the United States market still in slump, businesses project difficulties in profit increase in the next 7 years. Job cuts continue in the US and the rate of job creation of 25 per year is not sufficient to offset job losses in the next 5 years. On the other side of the world, Indian outsourcing firms show an opposite trend. Global IT service providers such as Infosys which provides technical consulting, design and development of business solutions have been aggressively increasing their workforce. Last week, the company reported that in the second quarter it has hired 6,069 people offsetting the 4,521 employees it laid off in the same quarter. Tata Consultancy Service is also bullishly hiring with plans of hiring 25,000 people worldwide for this year 2009 and 90%

Wipro Technologies, the IT services business of Wipro Ltd. (WIT) announced that it has entered into a five year agreement with BP Plc. (BP) to provide IT Applications Development and Maintenance services for BP’s Fuels Value Chain and Corporate businesses across the globe.

Wipro has been selected as a strategic partner after an arduous selection procedure, which assessed the company on its IT capabilities, domain knowledge of the Oil and Gas sector and proven past record of operational transformation.

Wipro will support BP in IT standardization, simplification and achievement of corporate efficiency. This agreement significantly expands the scope of partnership between Wipro and BP to additional business segments and newer geographies in future.

Through this agreement, Wipro will provide benefits of scale and efficiency by utilizing its proven global delivery model, which will look at delivering services from locations across the globe for BP.

Wipro has enjoyed a compounded annual revenue growth

Wipro Technologies, the global IT services arm of Wipro Limited (WIT), has executed a five-year agreement to provide IT data center and applications management services for BJ’s Wholesale Club, Inc. (BJ), which provides discount branded merchandise.   As per the contract, Wipro will relocate BJ’s mainframe and open systems environment to its data center in Omaha, Nebraska. This will enable BJ’s to customize infrastructure solutions, provide more flexibility and improve applications support and efficiently focus its IT spend. Wipro will provide applications management, support, disaster recovery, enterprise security and compliance services to BJ.   Wipro has enjoyed a compounded annual revenue growth rate of 25% over the last five years, exhibiting stability, profitability, and growth from its inception and through down markets for IT services. A solid growth strategy, strategic acquisitions, robust performance of the IT Services and Products segment, and a leading position in the Indian Outsourcing

PennyOmega.com Stock Report!

PennyOmega.com Hot Stock News & Alerts!

Monday July 27, 2009

PennyOmega.com Stock Report!

**************************************************************

Cummins Inc. (NYSE: CMI) has been honored by the National Business Group on Health as one of the nation’s leading corporations for innovative programs promoting a healthy workplace and for helping its employees and their families to make better choices about their own health and well-being.

Intellicheck Mobilisa, Inc. (NYSE Amex:IDN), a global leader in access control and wireless security systems, received a contract from the US Army at Fort Benning to provide them with the Defense ID (R) access control system. The value of the contract is $809,853 for equipment, software, installation, training and warranties.

Wipro Technologies, the

NetSol Technologies (NTWK) is a provider of software and services for banks, leasing and finance firms, and other financial services institutions. NetSol’s primary product, LeaseSoft, helps process and manage incoming credit applications. The company counts car dealerships among its prime customers, and its Wholesale Finance System automates and manages the floor plan and bailment activities of dealerships as well as providing a tool for the management of dealership fleets.

California-based NetSol, founded in 2002 and formerly known as NetSol International, is in the midst of a massive expansion of its product offerings and is seeking to externally grow its business through acquisitions and alliances. The company has international locations serving Europe, Southeast Asia, Asia Pacific, China and the United States. To reduce costs, most of NetSol’s skilled labor force, about 80 percent, is based in Pakistan.

Earlier this month, NetSol said that Al-Amthal Leasing, one of the largest leasing companies