Today, a LargeCap IT stock with a market capitalization of Rs 2,78,439.19 crore entered into an MOU with Nokia for a joint 5G private wireless solution to speed up the enterprise digital transformation. The stock has delivered 37 percent returns in one year.
The Wipro Ltd. stock started its trading session at a higher note of Rs 534.80 a piece from its previous closing price of Rs 532.20 a piece and is currently trading at Rs 532.90 a piece with a marginal increase of 0.12 percent.
Wipro Ltd. and Nokia announced plans to launch a joint 5G private wireless solution in order to scale up the enterprise digital transformation.
According to the exchange filing report, this wireless network solution will bring greater mobility, faster connectivity, real-time access, and the potential to process high volumes of data with less latency, improving operational efficiency with advanced AI-driven automation.
Furthermore, with this technology, enterprises will be able to create an integrated private environment to better manage performance and mitigate security risks. Initially, this wireless network solution will be made available to customers engaged in the manufacturing, energy, utilities, transportation, and sports entertainment industries.
Considering the business parameters, the revenue from operations declined by 5 percent, from Rs 23,229 crore in Q3 FY23 to Rs 22,205 crore in Q3 FY24. Similarly, net profits also declined by 12 percent, from Rs 3,065 crore to Rs 2,701 crore during the same period.
As per the recently available information, the company has secured 14 deals with a total contract value of $30 million, and it primarily operates in two segments: IT services and IT products.
Wipro Ltd. has a global presence across America, Africa, Asia Pacific, Europe, and the Middle East.
Wipro Ltd. is a technology services and consulting company headquartered in Bangalore. It started its journey as a vegetable oil producer in 1945 and later transitioned into Wipro Products Limited in 1977. It primarily operates in two segments: IT services and IT products.
Written By Praveen R
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