Wipro ends flat despite collaborating with Telefonica Germany/O2 for radical IT transformation

Wipro Limited announced on Monday after the market hours that it has entered into a five-year strategic partnership with Telefonica Germany/O2, a leading provider of mobile telecommunications, broadband & landline in Germany. 

Under this Radical IT Transformation (RAITT) Programme, Wipro will work with Telefonica Germany/O2 and its wider ecosystem to transform its business support systems and associated quality assurance to enable superior customer experience & growth in the B2B market segment. 

The company’s stock today increased by 1.81 per cent and made an intraday high of Rs 447.65 per share. 

Besides, the company reported a net profit of Rs 2,987.70 crore in Q3FY21, an increase of 21.47 per cent. It had reported a profit of Rs 2,459.60 crore in Q3FY20. The company reported net sales of Rs 15,670 crore for Q3FY21, an increase of 1.29 per cent as against the net sales of Rs 15,470.50 crore for Q3FY20. 

According to BSE data, the stock traded at a P/E multiple of 26.16 and a price-to-book ratio of 4.67. The stock has a 52-week high and a 52-week low of Rs 467.20 and Rs 159.60, respectively. 

The stock of Wipro Ltd ended Tuesday’s trading session at Rs 437.35, down by 0.53 per cent on BSE.