Wipro nudges higher after securing contract

Wipro rose 2.03% to Rs 261.25 at 14:13 IST on BSE after the company said it has won IT applications managed services contract from Finnish company Valmet.

The announcement was made after market hours yesterday, 14 June 2017.

Meanwhile, the S&P BSE Sensex was down 74.50 points or 0.24% at 31,081.41.

On the BSE, 2.75 lakh shares were traded on the counter so far as against the average daily volumes of 3.01 lakh shares in the past two weeks. The stock had hit a high of Rs 262 and a low of Rs 255.20 so far during the day. The stock had hit a 52-week high of Rs 288.75 on 13 July 216 and a 52-week low of Rs 205 on 9 November 2016.

The stock had underperformed the market over the past one month till 14 June 2017, advancing 1.05% compared with the Sensex's 3.21% rise. The stock had also underperformed the market over the past one quarter, gaining 2.33% as against the Sensex's 5.82% rise. The scrip had also underperformed the market over the past one year, sliding 5.51% as against the Sensex's 18.03% rise.

The large-cap company has equity capital of Rs 973.33 crore. Face value per share is Rs 2.

Wipro announced that it has won IT applications managed services engagement with Finnish company, Valmet, a leading global developer and supplier of technologies, automation and services for the pulp, paper, and energy industries.

Valmet has selected Wipro as the partner for supporting its renewed Infor LN ERP platform. As part of the multi-year engagement, Wipro will deliver the maintenance and support of the new ERP platforms in a Managed Services model covering all global locations in which Valmet operates.

Wipro's consolidated net profit rose 7.2% to Rs 2267 crore on 2.16% rise in net sales to Rs 14062 crore in Q4 March 2017 over Q3 December 2016.

Wipro is a leading information technology, consulting and business process services company that delivers solutions to enable its clients do business better.

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