Wipro is trading higher by 1% at Rs 347 in otherwise extremely weak market on reports that the company has won a $500 million (Rs 2,900 crore) outsourcing contract from Citigroup.
As a part of the contract, Wipro will be responsible for application development and maintenance (ADM) as well as providing infrastructure management services for Citi’s global operations, the Business Standard report suggests.
The contract also requires Wipro to set up a large offshore delivery centre (ODC) in Bangalore, to exclusively provided services to Citi, added report.
The stock opened at Rs 344 and touched high of Rs 348 in early morning deals on NSE. A combined 682,469 shares have changed hands on the counter till 1025 hours on BSE and NSE.
As a part of the contract, Wipro will be responsible for application development and maintenance (ADM) as well as providing infrastructure management services for Citi’s global operations, the Business Standard report suggests.
The contract also requires Wipro to set up a large offshore delivery centre (ODC) in Bangalore, to exclusively provided services to Citi, added report.
The stock opened at Rs 344 and touched high of Rs 348 in early morning deals on NSE. A combined 682,469 shares have changed hands on the counter till 1025 hours on BSE and NSE.
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