The company sold 63 percent of its stake in Wipro Airport IT to Antariksh Softtech as part of divesture of the subsidiary for Rs 3,15,00,000.
Shares of Wipro rose 5 percent in the early trade on Monday as company sold its stake in Wipro Airport IT to Antariksh Softtech.
The company sold 63 percent of its stake in Wipro Airport IT to Antariksh Softtech as part of divesture of the subsidiary for Rs 3,15,00,000.
Wipro Airport IT Services, a joint venture between Wipro (74%) and Delhi International Airport (26%), which provides various IT Services at Indira Gandhi International Airport, New Delhi.
Post the sale, company holds 11% stake in Wipro Airport IT, which will continue to outsource IT services of the airport to Wipro as per the existing arrangement.
The company's meeting of the board of directors will be held over April 24-25, 2018 to consider and approve, audited standalone and consolidated financial results for the quarter and year ended March 31, 2018.
It will also consider recommendation of final dividend, if any, for the financial year ended March 31, 2018.
At 09:56 hrs Wipro was quoting at Rs 284.50, up Rs 0.40, or 0.14 percent on the BSE.
Posted by Rakesh Patil