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Wipro rises after collaboration with Intel

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Wipro gained 0.29% to Rs 308.10 after the IT major said it will collaborate with Intel to offer engineering services support required for commercialization of solutions built on OpenNESS toolkit.

Wipro will provide commercial engineering services for the Open Network Edge Services Software (OpenNESS) toolkit globally. OpenNESS is a Multi-Access Edge Computing (MEC) software toolkit that was developed by Intel and allows developers to create and deploy applications at the network edge or on-premise edge locations. This open source distribution fosters application innovation, and developer engagement with the ecosystem to create 5G and edge solutions.

The engineering services for OpenNESS builds upon an ongoing collaboration between Wipro and Intel on innovative 5G and edge solutions that utilize Intel's FlexRAN software reference architecture and OpenNESS.

Commenting on the development, K.R. Sanjiv, Chief Technology Officer, Wipro said, "Our collaboration with Intel will help build 5G solutions enabled by edge computing that will power industry applications, deliver superior experiences and drive business efficiencies. Intelligence closer to the source of data will help us re-imagine business applications for our clients. We are excited to deliver commercial support services globally for OpenNESS."

Wipro said it is committed to be the leading 5G solutions and implementations partner to its clients by providing them with strategic advice on the technology and unlocking its potential to generate new revenue streams. In addition to the 5G lifecycle services, Wipro's specializations in automation, security and enterprise transformation help clients realize business value in their digital transformation journeys.

Shares of Wipro have risen 11.6% in seven trading sessions. The stock hit a 52-week high of Rs 310.95 in intraday today. The counter is up 93% from its 52-week low of Rs 159.6 hit on 19 March 2020.

Wipro reported a 2.82% rise in consolidated net profit to Rs 2,411.50 crore on a 5.07% decrease in net sales to Rs 14,913.10 crore in Q1 June 2020 over Q4 March 2020.

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

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, September 15 2020. 09:17 IST