Wipro Ltd - Mr. Jyoti Roy, DVP - Equity Strategist, Angel Broking Ltd

"Wipro Ltd. has announced that they have entered into a multi-year global agreement for automotive engineering services to Marelli. Marelli is one of the world's leading global independent suppliers to the automotive sector with operational headquarters in Saitama, Japan and Corbetta, Italy. As part of this agreement, Wipro will leverage its EngineeringNXT framework and strong automotive engineering expertise to establish a software engineering factory for Marelli. While Wipro has not specified the deal size it is likely to be a multimillion dollar engagement. Marelli is already an existing customer of Wipro and the company has now managed to expand its relationship with the company. The deal bears out the fact that Indian IT services players are gaining market share at the expense of legacy players by expanding their relationship with existing clients who are looking at consolidating their vendors."

Shares of WIPRO LTD. was last trading in BSE at Rs.282.25 as compared to the previous close of Rs. 278.65. The total number of shares traded during the day was 530744 in over 6399 trades.

The stock hit an intraday high of Rs. 286.9 and intraday low of 278.6. The net turnover during the day was Rs. 150629220.

Source : Equity Bulls

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