Wipro slips for third day in a row

Shares of IT major Wipro are trading lower by 0.54% at Rs 183, with the extending extending its two-day slide.

The Wipro stock is now down 3.93% in three trading sessions from its recent closing high of Rs 190.50 on 30 April 2020.

Meanwhile, Wipro has signed MoU with the Government of Maharashtra under which it will repurpose one of its information technology campuses in Hinjewadi, Pune to a 450-bed intermediary care COVID-19 hospital. The announcement was made after market hours yesterday, 5 May 2020.

Wipro has signed a memorandum of understanding with the Government of Maharashtra under which it will repurpose one of its information technology campuses in Hinjewadi, Pune to a 450-bed intermediary care COVID-19 hospital in four weeks and hand it over to the state government by May 30. The hospital will be converted back to an IT facility after a year.

The 450-bed hospital, to be equipped to treat moderate cases, will include 12 beds to stabilise critical patients before shifting them to a tertiary care facility. This is an independent, isolated COVID-19 dedicated complex that also includes 24 well-appointed rooms to accommodate doctors and medical staff.

Wipro will provide the physical infrastructure, medical furniture and equipment besides appointing an administrator and skeletal support staff to help operationalise the hospital quickly with the required medical professionals.

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

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