Wipro gains on forming strategic alliance with Axeda to deliver M2M Solutions

Wipro is currently trading at Rs 424.80, up by 8.30 points or 1.99% from its previous closing of Rs 416.50 on the BSE.

The scrip opened at Rs 415.00 and has touched a high and low of Rs 426.00 and Rs 414.95 respectively. So far 44459 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 450.70 on 04-Apr-2012 and a 52 week low of Rs 325.60 on 30-Jul-2012.

Last one week high and low of the scrip stood at Rs 426.00 and Rs 404.00 respectively. The current market cap of the company is Rs 104601.74 crore.

The promoters holding in the company stood at 78.29% while Institutions and Non-Institutions held 10.08% and 9.90% respectively.

Wipro Technologies, the global information technology, consulting and outsourcing business of Wipro and Axeda Corporation, the leading provider of cloud-based service and software, formed strategic alliance for managing connected products and delivering machine-to-machine (M2M) applications. The partnership will provide services and end-to-end solutions to help organizations connect with any asset, leverage machine data to enhance business processes and develop new innovative enterprise applications. M2M refers to technologies that allow wireless and wired systems to communicate with other enabled-devices.

The Axeda Machine Cloud is a cloud-based service for managing connected assets and implementing innovative M2M applications. It facilitates rapid M2M application development and includes out-of-the-box device and asset management applications to reduce the cost and complexity of implementing M2M solutions.

When coupled with Wipro's development services, system integration, industry expertise and global presence, organizations now have access to best of breed capabilities that enable them to evolve from basic machine monitoring and service to the most advanced levels of machine data integration in the enterprise, and connected product optimization and differentiation.

Wipro Technologies delivers winning business outcomes through its deep industry experience and a 360 degree view of 'Business through Technology' - helping clients create successful and adaptive businesses.

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