Wipro was up 0.27% to Rs 526.20 at 9:37 IST on BSE after the company said it has made a strategic investment to acquire a minority stake of less than 20% in Intsights Cyber Intelligence for $1.5 million in cash.
The announcement was made after market hours yesterday, 18 August 2016.Meanwhile, the S&P BSE Sensex was down 2.19 points or 0.01% at 28,121.25.
On BSE, so far 14,000 shares were traded in the counter as against average daily volume of 3.21 lakh shares in the past one quarter. The stock hit a high of Rs 530.15 and a low of Rs 526.05 so far during the day. The stock had hit a 52-week high of Rs 613 on 1 October 2015. The stock had hit a 52-week low of Rs 508.90 on 29 February 2016. The stock had underperformed the market over the past one month till 18 August 2016, sliding 4.93% compared with 1.36% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 2.63% as against Sensex's 9.41% rise.
The large-cap company has equity capital of Rs 486.16 crore. Face value per share is Rs 2.
Wipro's latest investment for acquiring minority stake in Intsights Cyber Intelligence is expected to be completed on or before 31 August 2016.
Headquartered in Tel Aviv, Israel, Intsights Cyber Intelligence offers a threat intelligence driven security platform employing cyber intelligence, rapid mitigation and one-click remediation.
On consolidated basis, Wipro's net profit fell 8.32% to Rs 2051.90 crore on 0.32% decline in net sales to Rs 13697.60 crore in Q1 June 2016 over Q4 March 2016.
Wipro is one of the leading global information technology, consulting and outsourcing companies.
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