Wipro gains after winning contracts

Wipro rose 0.36% to Rs 267.70 at 9:19 IST on BSE after the company announced that it signed two multi-year business deals.

Meanwhile, the S&P BSE Sensex was down 20.56 points, or 0.06% to 35,579.26.

On the BSE, 6393 shares were traded in the counter so far compared with average daily volumes of 64,000 shares in the past two weeks. The stock had hit a high of Rs 272 and a low of Rs 266.75 so far during the day. The stock hit a 52-week high of Rs 334.75 on 16 January 2018. The stock hit a 52-week low of Rs 252.10 on 21 June 2017.

IT major Wipro announced that it signed two multi-year business deals one with Nokia for the design and digitalisation of Nokia's sales order operations and another with LATAM Cargo, a part of Latin America's LATAM Airlines Group, for cargo management. Wipro, however, did not provide any financial details about the two contracts. Both the announcements were made separately after market hours yesterday, 14 June 2018.

In the perspective of new 5G and IOT business, Nokia aims to transform its supply chain and sales order management processes. In line with this objective, Wipro will help design, digitalize and run Nokia's sales order management operations from multiple centers, globally.

Wipro will deploy its end-to-end cargo management system CROAMIS for LATAM Cargo as part of its engagement with LATAM Cargo, the leader group in air cargo transport to, from and within Latin America. Cargo Reservations, Operations, Accounting and Management Information System (CROAMIS) is Wipro's next generation "as a service" end-to-end cargo management system for the aviation industry.

On a consolidated basis, Wipro's net profit fell 6.69% to Rs 1800.80 crore on 0.73% rise in net sales to Rs 13768.60 crore in Q4 March 2018 over Q3 December 2017.

Wipro is a leading global information technology, consulting and business process services company.

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