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      Wipro moves higher

      MoM Team / Mumbai, Mar 16, 2017 10:54 AM IST

        Wipro moves higher

        Wipro gained around a percent to Rs 497 on BSE after the company announced the opening of an Automotive Engineering Center in Detroit.
        The announcement was made after market hours yesterday, 15 March 2017.

        Meanwhile, the S&P BSE Sensex was up 166.69 points, or 0.57 percent, to 29,564.80

        On the BSE, so far 6.69 lakh shares were traded in the counter, compared with average daily volumes of 1.03 lakh shares in the past one quarter.

        The stock had hit a high of Rs 500 and a low of Rs 495.35 so far during the day. The stock hit a 52-week high of Rs 606.75 on 20 April 2016. The stock hit a 52-week low of Rs 410 on 9 November 2016.

        The large-cap company has equity capital of Rs 486.18 crore. Face value per share is Rs 2.

        Wipro said that the Automotive Engineering Center (AEC) aims to drive innovation in connected vehicle concepts - design, product engineering, digital customer-vehicle experiences, artificial intelligence, and sensors-driven advanced vehicle data analytics.

        The Wipro's AEC is part of the company's vision to build a global network of delivery centers that offer best-in-class engineering and IT services, augmented by leading-edge automotive domain and digital solutions.

        The center will serve as a hub to support the automotive engineering and IT requirements of original equipment manufacturers (OEMs) and tier-I suppliers, based in North America.

        Wipro's consolidated net profit rose 2.04 percent to Rs 2109.40 crore on 0.93 percent decline in net sales to Rs 13764.50 crore in Q3 December 2016 over Q2 September 2016.

        Wipro is a leading information technology, consulting and business process services company that delivers solutions to enable its clients do business better.

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      Source: Capital Market

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