Wipro loses SAP maintenance project from Nike; shares fall over 2%

NEW DELHI: Shares of IT major Wipro declined over 2 per cent in morning trade on Thursday after losing SAP maintenance project from the sports shoe and apparel maker Nike.

Wipro lost the SAP maintenance project after a delay in implemention of the business software for Nike, an ET report said. Some analysts are pegging the deal size at between $10 million and $40 million.

“There has been almost a year's delay in implementation of SAP software for Nike and post-completion, the company (Wipro) has lost the maintenance part for the same software to a rival,” a source told ET.

Such developments may impact IT services firms at such time when they are experiencing growth challenges in the traditional services business.

Nearly 4.4 crore Wipro shares traded in a pre-market block deal, according to ET NOW.

Shares of the company traded 2.12 per cent down at Rs 255.95 on BSE around 9:25 am.