Wipro partners with SAP for developing industry cloud solutions for real estate sector; stock shines

Wipro announced its partnership with SAP today for developing industry cloud solutions in the real estate sector. The company said that it will co-innovate with SAP SE on cloud-based solutions for the real estate industry.

To take the first step in this direction, Wipro has launched TAM solutions, which work on technologies like machine learning, artificial intelligence, and robotic process automation. This solution enables faster deal conversion in tenant leasing. The initiative would help real estate businesses to differentiate themselves in the marketplace.

Reacting to this, the stock of Wipro jumped more than 1.69 per cent today and made an intraday high of Rs 339.80 on BSE. Meanwhile, it has recovered by 113.17 per cent from its sharp decline in March 2020. According to BSE data, the stock traded at a P/E multiple of 21.56 and a price-to-book ratio of 3.70.

Wipro is a global information technology, consulting & business process services company.

At 12.50 pm today, the share of Wipro was trading at Rs 338.20, up by 1.21 per cent on BSE.