Wipro Gains After Getting Contract from Finnish firm Valmet
DSIJ Intelligence / 15 Jun 2017
Wipro will provide maintenance and support for the new ERP platform for all regionsin which Vamlet operates. It will also provide support for end to end testing activities around the implementation and rollout of the new ERP platform.
During Thursday’s trading session, Wipro rallied almost 1.5% as it won an IT applications managed services contract from Valmet, a Finnish Company.
Valmet is a global developer and supplier of technologies, automation and services for pulp, paper and energy industries.
As part of the multi-year contract, Wipro will provide maintenance and support for the new ERP platform for all regionsin which Vamlet operates. It will also provide support for end to end testing activities around the implementation and rollout of the new ERP platform.
The stock of Wipro has delivered negative returns of 4% in a period of one year and has underperformed the BSE Sensex and outperformed the BSE IT indices over the same time period.