Wipro Shares Price: There was a good rise in Wipro shares today. The main reason for this is the company’s new deal with Singapore’s food and agribusiness company Olam Group. Olam Group is backed by Temasek Holdings and employs about 40,000 people around the world. After this deal, the demand for Wipro shares increased and as soon as the market opened, there was a jump in the prices.
However, some investors also booked profits, due to which the shares fell slightly. Nevertheless, the stock remains strong due to continued buying at lower levels. Currently, Wipro shares are trading at around Rs 198.65 on BSE, which shows a gain of about 1.98%. During the day it had reached Rs 200.70, i.e. a rise of about 3%.
What is the deal between Wipro and Olam Group?
Wipro has signed an 8-year long deal with Olam Group. The total value of this deal is believed to be more than $1 billion, which includes fixed expenses of about $800 million. Under this agreement, Wipro will provide AI and consulting based end-to-end digital transformation services to Olam. The company will further strengthen the functioning of Olam by using its “Wipro Intelligence Platform” and global experience.
In which areas will Wipro work?
This partnership will cover Olam’s entire “farm-to-fork” process. It includes many important parts like farming estimation, trading, supply chain and customer management. Its objective is to improve the functioning of the company and bring growth to the company in the long run.
What is the matter related to Mindtree?
Under this deal, Wipro will also acquire Mindtree. However, it is still subject to regulatory approval and it is expected that the process will be completed by the first quarter of FY27. After completion of the deal, Mindtree will become a wholly owned company of Wipro. It employs more than 3,200 employees, most of whom are in India.
What did the CEO of Olam Group say?
Olam Group CEO Sunny Varghese said that this partnership with Wipro will accelerate the digital transformation of the company. Wipro’s AI capabilities and global network will further strengthen Olam’s operations.
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