Hope after PC assumed charge as FM, says Wipro CFO
Bangalore: Wipro CFO Suresh C Senapaty Thursday said there is hope of corporate sector sentiments improving after P Chidambaram assumed charge as Union Finance Minister and wanted the Centre to convert it into policy action.
"There is definitely some amount of hope that has come in after P Chidambaram assumed charge as Union Finance Minister. However, it is important that in next 4-6 weeks that hope is converted into policy action whether it is on issues relating to inflation, the kind of bills getting into the Parliament and how Parliament functions," he told reporters here.
He was also asked whether the sentiments of IT sector have improved since the announcement of quarterly results by the company.
"All we have said is that the market is different. The way the business was done, will be done and is being done is different," Senapaty said.
"We are quite bullish and optimistic about some of the sectors. We are focussed on whether it is oil and gas, healthcare and lifesciences. We are hopeful that in some stage India-Middle East market comes back," he added.
About acquisitions, Senapaty said Wipro was completely focussed on blank space like platform, mobility and analytic.
Replying to a query on Index on Industrial Production (IIP) data, he said it was a disappointing data, but it was not a complete surprise. "It definitely was far worse than what was forecasted," he said.
However, embedded in that forecast was some good news where mining and power generation are positive. But the real manufacturing had brought the production down, Senapaty said.