Wipro rose 1.96% to Rs 259.60 at 9:23 IST on BSE after the company said it collaborated with IIT Kharagpur for advanced research in 5G and artificial intelligence.
The announcement was made after market hours yesterday, 28 March 2019.Meanwhile, the S&P BSE Sensex was up 171.81 points, or 0.45% to 38,717.53.
On the BSE, 21,000 shares were traded in the counter so far compared with average daily volumes of 3.94 lakh shares in the past two weeks. The stock had hit a high of Rs 259.60 and a low of Rs 257 so far during the day. The stock hit a 52-week high of Rs 297 on 25 February 2019. The stock hit a 52-week low of Rs 190.13 on 6 June 2018.
Wipro and Indian Institute of Technology, Kharagpur (IIT Kharagpur) signed a memorandum of understanding (MoU) to collaborate on high-impact, industry-focused applied research in the areas of 5G and artificial intelligence (AI). Research outcomes from this partnership will be leveraged by Wipro to develop solutions for its customers, across industry verticals. IIT Kharagpur will benefit from the commercialization of the joint research insights and Wipro's real-world industry expertise.
Wipro and IIT Kharagpur will jointly take up applied research projects on industry challenges related to the design, planning and operations of 5G networks and cognitive information processing for the automation of these processes and 5G use cases. The two organizations will focus on Al research applicable in the healthcare, education and retail sectors as well as in domains such as climate change and cybersecurity. In addition, subject matter experts from Wipro and IIT Kharagpur will promote knowledge sharing through guest lectures, workshops and seminars on 5G and Al.
IIT Kharagpur is pursuing research projects in areas including front and back haul optical networks, vehicular ad hoc networks, interplanetary networks, channel estimation, optimized resource allocation, Multiple-Input & Multiple-Output (MIMO) and millimeter wave communications, secure communication & cross layer optimization and multimedia transmission for 5G. Student research groups are also working on Network Function Virtualization (NFV) and Software Defined Networking (SDN), which holds immense potential in 5G telecommunication. In addition, the institute is also working on foundational research in AI Algorithms, formal methods, machine learning, deep learning, graph mining and analytics, game theory and mechanism design.
On a consolidated basis, Wipro's net profit rose 32.89% to Rs 2510.40 crore on 3.57% rise in net sales to Rs 15059.50 crore in Q3 December 2018 over Q2 September 2018.
Wipro is a leading global information technology, consulting and business process services company.
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