Wipro inks MoU for converting Pune branch into COVID-19 hospital

In a latest development, Wipro Limited announced that it has signed a memorandum of understanding (MoU) with Government of Maharashtra for converting one of its branches to a 450-bed COVID-19 hospital.

As per the MoU, Wipro would repurpose its Hinjewadi (Pune) branch into a hospital for Coronavirus patients and hand it over to the state government by May 30. The same would be converted back to an IT facility after a year or when the spread of Coronavirus is controlled and things go back to normal, the company informed in an exchange filing after the market hours on Tuesday.

Adding to this, the company said that it will not be a quarantine facility but in fact, a tier-2 hospital. Wipro said that they will not only provide the physical infrastructure and medical equipments & furniture but also, appoint an administrator and skeletal support staff to help operationalise the hospital as quickly as possible with the help of medical professionals.

At the time of market closing on Wednesday, the stock of Wipro Ltd was trading at Rs 187.15, up by 1.71 per cent against its previous close of Rs 184.00. Its 52-week high is Rs 301.55 and its 52-week low is Rs 159.60 on BSE.