Wipro rose 0.66% to Rs 486 at 9:51 IST on BSE after the company announced that it has won an IT contract from Norway's NSB Group.
The announcement was made before trading hours today, 7 September 2016.Meanwhile, the BSE Sensex was almost flat at 28,978.08.
On BSE, so far 23,000 shares were traded in the counter, compared with average daily volume of 3.58 lakh shares in the past one quarter. The stock hit a high of Rs 488.80 and a low of Rs 483.60 so far during the day. The stock hit a 52-week high of Rs 613 on 1 October 2015. The stock hit a 52-week low of Rs 476 on 29 August 2016. The stock had underperformed the market over the past 30 days till 6 September 2016, sliding 12.07% compared with 2.82% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 11.21% as against Sensex's 7.24% rise.
The large-cap company has equity capital of Rs 486.16 crore. Face value per share is Rs 2.
Wipro has won the IT contract from NSB Group, one of Norway's largest transportation groups. Headquartered in Oslo, NSB has extensive passenger transportation operations by way of the rail and bus, freight by rail, property management and development and train maintenance segments.
As part of the three-year agreement, Wipro will implement its Boundaryless Datacenter (BLDC) and LiVE Workspace solutions and utilize its next-generation delivery framework ServiceNXT to deliver services which will help NSB variablise their IT operations.
The proposed government-backed reforms in the Norwegian railway sector are expected to provide a fillip to the efficiency of the railways. The Wipro-enabled back-bone of IT infrastructure services will enable NSB to achieve greater flexibility, scalability, cost efficiency and offer an enhanced end-user experience.
On consolidated basis, Wipro's net profit fell 8.32% to Rs 2051.90 crore on 0.32% decline in net sales to Rs 13697.60 crore in Q1 June 2016 over Q4 March 2016.
Wipro is a leading information technology, consulting and business process services company that delivers solutions to enable its clients do business better.
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