Wipro gains after achieving milestone in its ongoing IoT deployment for JCB India

Wipro rose 1.74% to Rs 570.95 at 11:33 IST on BSE after the company announced that it has achieved a significant milestone in its ongoing Internet of Things deployment for JCB India, a leading construction equipment manufacturer.

The announcement was made before market hours today, 1 February 2016.

Meanwhile, the S&P BSE Sensex was up 70.66 points or 0.28% at 24,941.35

On BSE, so far 25,105 shares were traded in the counter as against average daily volume of 83,816 shares in the past one quarter. The stock hit a high of Rs 573.25 and a low of Rs 556.95 so far during the day. The stock had hit a 52-week high of Rs 676.90 on 11 March 2015. The stock had hit a 52-week low of Rs 512.55 on 24 April 2015. The stock had outperformed the market over the past one month till 29 January 2016, falling 0.42% compared with 4.64% decline in the Sensex. The scrip had also outperformed the market in past one quarter, falling 2.27% as against Sensex's 7.33% fall

The large-cap company has equity capital of Rs 494.10 crore. Face value per share is Rs 2.

JCB's Livelink telematics system has successfully connected over 10,000 construction equipment and machines, such as backhoe loaders, excavators and compact wheel loaders, deployed for its customers across India, Wipro said in a statement. The Livelink system allows JCB to remotely monitor the real-time health and performance of JCB assets in the field, the company said.

Wipro's consolidated net profit rose 2% to Rs 2230 crore on 7% growth in gross revenue to Rs 12860 crore in Q3 December 2015 over Q3 December 2014.

Wipro is one of the leading IT services provider.

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