Wipro inches up on selling 8% stake in Axeda

14 Oct 2014

Wipro is currently trading at Rs. 585.30, up by 0.90 points or 0.15 % from its previous closing of Rs. 584.40 on the BSE.

The scrip opened at Rs. 587.15 and has touched a high and low of Rs. 591.05 and Rs. 582.40 respectively. So far 38876 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 621.50 on 07-Oct-2014 and a 52 week low of Rs. 465.40 on 27-Nov-2013.

Last one week high and low of the scrip stood at Rs. 621.50 and Rs. 566.00 respectively. The current market cap of the company is Rs. 145501.03 crore.

The promoters holding in the company stood at 73.44 % while Institutions and Non-Institutions held 13.36 % and 11.26 % respectively.

Wipro has reportedly sold its 8% stake in US-based startup Axeda, with a threefold return on a small investment it made a year ago after Rishad Premji took over as head of strategy.  The company had spent about $5 million in June 2013 for the stake in machine-to-machine learning and Internet of things solution provider, valuing it at over $50 million. The Bangalore-based company was made to exit after Nasdaq-listed PTC bought Axeda for $170 million in cash in July this year. The company has sold the stake to PTC.

Wipro is a leading provider of analytics and information management solutions - enabling customers to derive actionable business insights from data to drive growth, enhance cost management and strengthen risk management.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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