Wipro surges on plan to expand its workforce in Qatar in next twelve months

22 Sep 2015

Wipro is currently trading at Rs. 599.15, up by 6.85 points or 1.16% from its previous closing of Rs. 592.30 on the BSE.

The scrip opened at Rs. 594.00 and has touched a high and low of Rs. 599.95 and Rs. 593.65 respectively. So far 25478 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 676.90 on 11-Mar-2015 and a 52 week low of Rs. 512.55 on 24-Apr-2015.

Last one week high and low of the scrip stood at Rs. 599.95 and Rs. 562.25 respectively. The current market cap of the company is Rs. 147819.23 crore.

The promoters holding in the company stood at 73.38% while Institutions and Non-Institutions held 15.12% and 9.54% respectively.

Wipro, a leading global information technology, consulting and business process services company, is planning to expand its workforce over the next twelve months in Qatar, a strategic growth market, to meet increasing business requirements. Wipro provides consulting, application implementation and infrastructure services across various domains to the customers in this region. Currently, over 350 employees work on Wipro’s Qatar based customer projects. Wipro has added customers across various sectors and has a strong base in banking, telecom as well as oil & gas verticals. Today, the company serves more than thirty customers in Qatar.

Over the last fifteen years, Wipro has seen high growth in the Middle East market. Despite the fluctuating oil prices, the IT demand across the region is holding steady and Qatar is in an enviable position due to prolonged budget surplus in the last few years along with adequate reserves to see them through the current market situation. Given the strong pipeline in Qatar, Wipro plans to significantly increase the headcount over the next twelve months and scale up its near shore delivery centers.

Wipro is a leading Information Technology, Consulting and Business Process Services company that delivers solutions to enable its clients do business better. The company delivers winning business outcomes through its deep industry experience and a 360 degree view of ‘Business through Technology’ - helping clients create successful and adaptive businesses.

 

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