Wipro shines as business arm sets up aerospace motor facility

06 Feb 2013

Wipro is currently trading at Rs. 406.40, up by 0.40 points or 0.10% from its previous closing of Rs. 406.00 on the BSE.

The scrip opened at Rs. 406.30 and has touched a high and low of Rs. 409.20 and Rs. 406.25 respectively. So far 13,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 452.50 and a 52 week low of Rs. 325.60.

The current market cap of the company is Rs. 1,00,074.00 crore.

The promoters holding in the company stood at 78.29% while Institutions and Non-Institutions held 10.08% and 9.90% respectively.

Wipro’s business arm, Wipro Infrastructure Engineering has set up an aerospace actuator manufacturing facility near Bangalore. This facility is spread across 7.2 acres in Devanahalli Special Economic Zone near the Bangalore airport. With this initiative, entity has broadened its scope of offerings for the aerospace segment - from designing, engineering to manufacturing for Indian and the global market.

The company plans to invest around Rs 65 crore for producing 2,000 actuators in a year and may expand it to manufacture 8,000 actuators every year. Actuator is a type of motor that powers engines, landing gear, flight control systems and other related equipments in an aircraft and related equipments.

In addition to this, Wipro Infrastructure Engineering has decided to double the initial investment over the next six years to expand capacity and add new product lines in precision manufactured components.


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