Wipro rose 0.32% to Rs 528.65 at 10:13 IST on BSE after the company said it has been selected by Outokumpu as its Global Prime Partner for applications maintenance and development of legacy applications across ten countries.
The announcement was made before market hours today, 12 June 2014.
Meanwhile, the S&P BSE Sensex was up 77.03 points or 0.3% at 25,550.92.
On BSE, so far 42,000 shares were traded in the counter as against average daily volume of 2.49 lakh shares in the past two weeks.
The stock hit a high of Rs 534.70 and a low of Rs 528 so far during the day.
Wipro said that it has been selected by Outokumpu, a global leader in stainless steel, as its Global Prime Partner for applications maintenance and development of legacy applications across ten countries including UK, Poland, Italy, Spain, Germany, Sweden, Finland, USA, Mexico and China.
The multi-year contract is geared towards bringing cost efficiencies and enabling enhanced optimization of applications within HR, Finance, Procurement, Market & Business Intelligence, Marketing and Communications, Supply Chain, Production and R&D, and Integration & Platform areas, thereby helping Outokumpu with their ongoing efficiency and cost saving measures to improve profitability, Wipro said in a statement.
N S Bala, Chief Executive - Manufacturing and Hi-Tech, Wipro said, "We are delighted to have been chosen as a strategic global prime partner by Outokumpu in their transformational journey. Wipro will leverage its strong understanding of the manufacturing business domain and capabilities in new and emerging technologies, to enable Outokumpu to become more agile, and streamline information sharing across their manufacturing value chain".
Patrik, Ekstrom, Chief Information Officer, Outokumpu said, "As Outokumpu continues to drive performance improvements, synergies and cost reductions across its businesses and group functions, we want to reiterate our commitment to invest in IT transformation and optimization. We are pleased to bring on board a valuable partner like Wipro to help us drive our target of becoming a profitable market leader in stainless steel".
Wipro's consolidated net profit from continuing operations surged 41% to Rs 2230 crore on 22% growth in revenue from continuing operations to Rs 11700 crore in Q4 March 2014 over Q4 March 2013.
Wipro is a leading information technology, consulting and outsourcing company that delivers solutions to enable its clients do business better.
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