Wipro in demand after winning multi-year contract from Verifone

Wipro gained 1.11% to Rs 363 after the IT major announced that it has won a multi-year contract from Verifone, a global leader in payments and commerce solutions, to drive agility across its cloud services offerings.

The IT major will develop new features, capabilities and interfaces for Verifone's Cloud Services offerings, enabling seamless and flexible transaction processing for the company. Leveraging its global engineering support team, Wipro will accelerate time-to-market for Verifone assisting it to transform its customer partnerships.

Commenting on the development, Harmeet Chauhan, Senior Vice President, Engineering and R&D Services of Wipro said, Buying patterns have been disrupted by the pandemic and the payment industry is undergoing an overhaul, accelerated by the cashless economy and contactless payments. We look forward to supporting Verifone navigate this upward trend and bring enhanced value through our deep expertise in Cloud Engineering offerings.

Wipro extended its winning run to third consecutive trading sessions. The stock has gained 3.57% in three days from its previous closing low of Rs 350.5 on 27 November 2020.

Wipro is a leading global information technology, consulting and business process services company. The IT major's consolidated net profit declined 3.4% to Rs 2,465.70 crore on 0.1% fall in net sales to Rs 15,114.50 crore in Q2 September 2020 over Q2 September 2019.

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