Wipro gains strength on the BSE

10 Jul 2013

Wipro is currently trading at Rs. 365.25, up by 5.05 points or 1.40% from its previous closing of Rs. 360.20 on the BSE.

The scrip opened at Rs. 361.00 and has touched a high and low of Rs. 365.55 and Rs. 360.00 respectively. So far 2, 64,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 418.25 on 09-Apr-2013 and a 52 week low of Rs. 290.11 on 30-Jul-2012.

Last one week high and low of the scrip stood at Rs. 360.95 and Rs. 341.40 respectively. The current market cap of the company is Rs. 89,990 crore.

The promoters holding in the company stood at 78.28% while Institutions and Non-Institutions held 10.62% and 9.37% respectively. Wipro has secured large technology outsourcing contract worth about $500 million from Citigroup. As per the order, Wipro will be responsible for application development and maintenance, as well as providing infrastructure management services, for Citi’s global operations. Wipro will also set up a large offshore delivery centre in Bangalore under the said project, to exclusively provide services to Citi.

The last large contract Wipro won from Citigroup was in 2008, when it acquired Citi Technology Services for $127 million. As part of that transaction, the Bangalore-based company had got committed business worth at least $480 million over a six-year-period.

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

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323