Wipro inches up on extending work with Marelli for additional four years
Wipro is currently trading at Rs. 591.00, up by 1.95 points or 0.33% from its previous closing of Rs. 589.05 on the BSE.
The scrip opened at Rs. 593.05 and has touched a high and low of Rs. 595.90 and Rs. 589.85 respectively. So far 33223 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 596.00 on 27-Nov-2024 and a 52 week low of Rs. 393.20 on 28-Nov-2023.
Last one week high and low of the scrip stood at Rs. 596.00 and Rs. 555.30 respectively. The current market cap of the company is Rs. 308196.52 crore.
The promoters holding in the company stood at 72.80%, while Institutions and Non-Institutions held 15.98% and 8.89% respectively.
Wipro has extended its work with Marelli, a global leader in automotive solutions, for an additional four years. As part of this engagement, Wipro FullStride Cloud will migrate Marelli’s Milan Data Centre and all their local server rooms to the Cloud to centralize their operations and provide a more agile and stable ecosystem.
This transition to a more flexible and advanced cloud environment will empower Marelli to respond quickly to market changes, enable continuous innovation across their business, and strengthen their competitive edge. Ultimately, the project will help reduce the time-to-market for Marelli's products and services, creating long-term value for all stakeholders, continuing to advance Marelli's journey towards modernization and growth.
The project will also enhance employee support services with AI-powered virtual assistants, providing vulnerability management services, and offer comprehensive application maintenance services to drive innovation, optimize costs, and reduce the need for future reworks through solutions designed for long-term efficiency. Overall, the modernization project is expected to deliver significant operational savings.
Wipro is a leading global information technology, consulting and business process services company.