/ Wipro Acquires Shares Of Drivestream Inc. ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 14 June 2017


Wipro has invested $809,690 in management and IT consulting firm, Drivestream Inc, the company informed the bourses on Wednesday. This cash consideration will result in Wipro acquiring 19,679 preferred stock and 27,865 common stock.

The investment gives Wipro the ability to benefit from Drivestream’s market leading Oracle Cloud HCM and Oracle Cloud ERP solutions.

Meanwhile, Wipro was down 2.2% at Rs 253.45 per share at 1139 hours IST on BSE. The stock hit a high of Rs 261.30 and a low of Rs 253.30 so far during the day.

The stock has outperformed BSE IT index and underperformed BSE Sensex in a period of one year. Its peers include Infosys and TCS.

Wipro Limited is a global information technology services provider. It operates through two segments: IT Services and IT Products.

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