Wipro climbs on inking pact with Marelli for automotive engineering services

08 Sep 2020 Evaluate

Wipro is currently trading at Rs. 282.80, up by 4.15 points or 1.49% from its previous closing of Rs. 278.65 on the BSE.

The scrip opened at Rs. 282.00 and has touched a high and low of Rs. 283.75 and Rs. 278.60 respectively. So far 118340 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 290.65 on 31-Jul-2020 and a 52 week low of Rs. 159.60 on 19-Mar-2020.

Last one week high and low of the scrip stood at Rs. 287.35 and Rs. 271.30 respectively. The current market cap of the company is Rs. 161320.07 crore.

The promoters holding in the company stood at 74.02%, while Institutions and Non-Institutions held 15.45% and 8.06% respectively.

Wipro has entered into multi-year global agreement with Marelli for automotive engineering services. Marelli is one of the world’s leading global independent suppliers to the automotive sector with operational headquarters in Saitama, Japan and Corbetta, Italy.

The integration synergies of this partnership from across business units will help Marelli drive speed to value and realize its vision of transforming the future of mobility in partnership with its customers. As part of this agreement, Wipro will leverage its EngineeringNXT framework and strong automotive engineering expertise to establish a software engineering factory for Marelli. Also, it will help improve Marelli’s operational efficiency and expedite launch of cutting-edge technologies on connectivity and sustainable mobility solutions.

Wipro is a leading global information technology, consulting and business process services company.

Wipro Share Price

480.05 7.85 (1.66%)
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