Wipro spurts on being selected as Majid Al Futtaim Ventures’ IT partner for 5 years

04 Jun 2013

Wipro is currently trading at Rs 330.00, up by 4.35 points or 1.34% from its previous closing of Rs. 325.65 on the BSE.

The scrip opened at Rs 327.90 and has touched a high and low of Rs 334.00 and Rs. 327.45 respectively. So far 73849 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 462.85 on 05-Apr-2013 and a 52 week low of Rs 315.30 on 31-May-2013.

Last one week high and low of the scrip stood at Rs 344.30 and Rs 315.30 respectively. The current market cap of the company is Rs 81612.31 crore.

The promoters holding in the company stood at 78.28% while Institutions and Non-Institutions held 10.62% and 9.37% respectively.

Wipro, a leading global Information Technology, Consulting and Outsourcing company has been selected as a strategic IT partner by Majid Al Futtaim Ventures LLC, Dubai, one of the subsidiaries of the Majid Al Futtaim group of companies. As a part of the five year engagement, Wipro will support the implementation of an ERP solution as well as provide managed services, including infrastructure platforms and applications support for Majid Al Futtaim Ventures LLC, a leading developer of some of the region's most iconic leisure concepts and experiences.

Wipro's managed services offering will involve supplying the hardware, hosting it and enabling Data Center and disaster recovery on cloud for Majid Al Futtaim Ventures. This will ensure improved asset management, operational efficiency, robust back office operations and business continuity. As part of the ERP implementation, Wipro will also engage with Majid Al Futtaim Ventures to set up a Finance Shared Services Center, thereby allowing transactional accounting operations to be standardized, more controlled, effective and efficient across the business.

Wipro is a leading Information Technology, Consulting and Outsourcing company that delivers solutions to enable its clients do business better.

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