/ Wipro Closes Its Mysuru’s Lighting Manufacturing Unit ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 12 July 2017

Wipro Consumer Care and Lighting announced that it has shut down Mysuru’s lighting manufacturing unit because of the sharp downfall in the demand for CFL products as well as the increase in the consumer preference for the LED products. The company has offered voluntary retirement scheme to the employees working at the unit.

Over the past two years, the company has noticed a decrease in the demand for the product and evaluated all the possible options and kept the plant operational for over a year despite low production levels.

Wipro Ltd was trading at Rs 262.30, down by 0.40% on BSE at 1134 hours. The stock opened at Rs 263.05, while on Tuesday it closed at Rs 263.35. The scrip touched its intraday high and low at Rs 266.50 and Rs 261.55, respectively. The company's 52-week high and low were at Rs 288.75 and 205, respectively.

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