Wipro gains on winning IT applications managed services engagement with Valmet

15 Jun 2017

Wipro is currently trading at Rs. 258.40, up by 2.35 points or 0.92% from its previous closing of Rs. 256.05 on the BSE.

The scrip opened at Rs. 260.05 and has touched a high and low of Rs. 260.05 and Rs. 258.10 respectively. So far 17,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 288.75 on 13-Jul-2016 and a 52 week low of Rs. 205.00 on 09-Nov-2016.

Last one week high and low of the scrip stood at Rs. 271.75 and Rs. 252.45 respectively. The current market cap of the company is Rs. 1,25,595.00 crore.

The promoters holding in the company stood at 73.25%, while Institutions and Non-Institutions held 16.73% and 8.00% respectively.

Wipro has won an IT Applications Managed Services engagement with Valmet, a leading global developer and supplier of technologies, automation and services for the pulp, paper and energy industries.

Valmet has selected Wipro as the partner for supporting its renewed Infor LN ERP platform. As part of the multi-year engagement, Wipro will deliver the maintenance and support of the new ERP platform in a Managed Services model covering all global locations in which Valmet operates. The construct of the contract is geared towards bringing cost efficiencies and enabling enhanced optimization in ongoing support. Additionally, Wipro will also support the end to end testing activities around the implementation and rollout of the new ERP platform.

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

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
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