Shares in Wipro rallied near 4.37 percent during the mid-noon session, after the company signed a strategic digital and IT deal with Metro AG to take over METRO-NOM GMBH and METRO Systems Romania S.R.L Shares in Wipro were last seen trading at Rs 380.10 on the National Stock Exchange, up by Rs.15.90 or 4.37 percent from the previous closing.
The surge comes after Wipro Limited, a leading global information technology, consulting, and business process services company, has announced a significant strategic digital and IT partnership deal with METRO AG, the leading global wholesale company that is redefining the food service distribution industry. As part of this transaction, Wipro will take over the IT units of METRO AG — METRO-NOM GMBH in Germany and METRO Systems Romania SRL.
Through this partnership, more than 1,300 employees across Germany, Romania and India will transfer to Wipro, providing them with new opportunities to advance their careers, access innovation, work with leading digital technologies and adopt new ways of working that enable agility, speed and scale in engineering. The estimated deal value for the duration of the first five years is around 700 million dollars. With the intention to extend up to 4 additional years, it can be a potential spend of up to USD one billion.
Indians bullish on realty buys in 2021
BHEL extends support to indigenous suppliers
FDI Spotlight: ICICI Bank increases focus on multinational firms