Wipro gains on entering into partnership with Schneider Electric to develop smart city solutions

16 Mar 2016

Wipro is currently trading at Rs. 535.70, up by 0.80 points or 0.15% from its previous closing of Rs. 534.90 on the BSE.

The scrip opened at Rs. 535.40 and has touched a high and low of Rs. 535.75 and Rs. 530.40 respectively. So far 24016 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 663.00 on 25-Mar-2015 and a 52 week low of Rs. 508.90 on 29-Feb-2016.

Last one week high and low of the scrip stood at Rs. 544.00 and Rs. 528.35 respectively. The current market cap of the company is Rs. 132028.33 crore.

The promoters holding in the company stood at 73.35% while Institutions and Non-Institutions held 15.52% and 10.53% respectively.

Wipro has entered into a strategic partnership with Schneider Electric, a global specialist in energy management and automated systems, to develop convergent solutions for India’s Smart Cities. Both organizations will collaborate to enable the delivery of cost-effective and efficient citizen services to urban and rural communities. They will jointly develop solutions in the Smart City space for India and global markets.

Smart Cities have a strong and equal play of operational technology (OT) along with information technology (IT) to provide convergent solutions. Wipro and Schneider Electric have a strong partnership around IT, Data centers, connectivity, Intelligent Building Management Systems and Data center Infrastructure Management solutions. Both the companies are now collaborating to focus on key OT areas like energy optimization, analytics, and citizen service improvement for smart cities.

Wipro is a leading information technology, consulting and business process services company that delivers solutions to enable its clients to do business better.

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