Mumbai: The border tension has created an apprehension among investors and clients of IT companies over project schedules, Wipro chairman Azim Premji said on June 10.

There were no cancellation of contracts (for Wipro) in the aftermath of border tension but it did create concerns.

"Now, the situation looks better and we need to follow developments in next two- three weeks," Premji told reporters at function organised by Union Bank of India to announce its tie-up with Infosys Ltd and Wipro Ltd for IT project.

Asked about plans for acquisitions, he said, "we are looking at various companies and have funds worth Rs 1,400 crore for this purpose".

He, however, declined to elaborate on prospective targets for acquisitions.

On business growth plans, he said the financial sector and healthcare services were among the crucial areas for Wipro's business plans.

The public sector banks are increasing their spending on computer hardware systems and software and "this will also drive our domestic business", he said.

PTI