Wipro stock price up by 4.99%

7 Jun 2024 , 01:22 PM

Wipro’s stock saw a 4.99% increase in its price on the BSE today after the company got a $500 million contract from a large US communication service provider.

One of the top US communication service providers has given Wipro a $500 million contract. According to a filing with the exchanges, “The company shall provide industry-specific solutions and managed services for certain products.”

Additionally, the business said on May 31 that Wipro VisionEDGE+, which was created in collaboration with AT&T and Cisco and makes use of Amazon Web Services (AWS), will be expanding its retail-focused capabilities.

Wipro revealed significant deal bookings for the full fiscal year at $4.6 billion in its fourth quarter earnings for FY24, a 17.4% YoY growth.

Wipro has been chosen as a strategic partner by a prominent telecom operator in the United States to offer managed services and revamp the client’s digital and IT operations. In addition, Wipro said in a press release that it will “drive data driven insights, enhance digital and billing operating platforms, drive better security and quality engineering practices, and implement and operate a leading IT SaaS operating platform throughout the organisation as part of this deal.”

Wipro’s stock has increased by 20% over the past year, with gains of 15.5% during the last six months.

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