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Wipro gains after bagging Takeda Pharma deal

Capital Market/ 09:19 , May 20, 2014

Wipro rose 1.73% to Rs 489.85 at 9:17 IST on BSE after the company signed a deal with Japan's Takeda Pharmaceutical Company to provide IT infrastructure management services.

The company made the announcement after market hours on Monday, 19 May 2014.

Meanwhile, the BSE Sensex was up 65.84 points, or 0.27%, to 24,428.89.

On BSE, so far 11,000 shares were traded in the counter, compared with an average volume of 1.94 lakh shares in the past one quarter.

The stock hit a high of Rs 490 and a low of Rs 485.55 so far during the day. The stock hit a 52-week high of Rs 610.50 on 26 February 2014. The stock hit a 52-week low of Rs 315.30 on 31 May 2013.

The stock had underperformed the market over the past one month till 19 May 2014, sliding 17.77% compared with 7.66% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 14.71% as against Sensex's 17.57% rise.

The large -cap IT company has an equity capital of Rs 493.42 crore. Face value per share is Rs 2.

Wipro announced a strategic partnership with Takeda Pharmaceutical Company, the largest pharmaceutical company in Japan and one of the global leaders of the industry.

This strategic partnership will build advanced value in Takeda's operations by consolidating IT platforms across the organization. As a strategic partner, Wipro will build and maintain an as-a-service global platform for Takeda that will drive synergies across its global entities through standardization of IT architecture. Wipro will be primary provider of IT Infrastructure management services covering Takeda's entities across the world, touching 30,000 users in 16 different languages, operating out of data centers in Asia, Europe and America.

Speaking on the engagement, Sangita Singh, Chief Executive - Healthcare and Life Science Business Unit at Wipro said, We are thrilled to partner with Takeda in its business transformation journey. Wipro is leveraging its experience in enabling global pharma companies to achieve a leaner & standardized IT workplace and implement newer business models that put patient at the core. We look forward to collaboratively partnering with the Takeda team in enabling this unique platform across its global operations.

Wipro will deliver the as-a-service on demand model, which is redefining the way organizations purchase technology. With our global delivery capabilities, Wipro will drive Takeda's IT infrastructure, consolidating and optimizing resources across the organization, added G K Prasanna, Chief Executive - Global Infrastructure Services & Product Engineering Services.

Wipro's consolidated net profit from continuing operations surged 41% to Rs 2230 crore on 22% growth in revenue from continuing operations to Rs 11700 crore in Q4 March 2014 over Q4 March 2013. The results are as per International Financial Reporting Standards (IFRS).

Wipro's non-GAAP adjusted net profit from continuing operations rose 42% to Rs 2230 crore in Q4 March 2014 over Q4 March 2013.

Wipro has given a forecast of between 0.3% decline to a growth of 2.02% in revenue from IT Services business at between $1.715 billion to $1.755 billion in Q1 June 2014 over Q4 March 2014.

Wipro is a leading Information Technology, Consulting and Outsourcing company that delivers solutions to enable its clients do business better. Wipro delivers winning business outcomes through its deep industry experience and a 360 degree view of Business through Technology - helping clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, a practitioner's approach to delivering innovation, and an organization wide commitment to sustainability, Wipro has a workforce of 140,000 serving clients across 61 countries.


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