Wipro and Marelli have entered into a multi-year global agreement for automotive engineering services.
Wipro share price gained over 4 percent intraday on September 8 after the company entered into a multi-year global agreement with Italian fim Marelli for automotive engineering services.
As part of this agreement, Wipro will leverage its EngineeringNXT framework and strong automotive engineering expertise to establish a software engineering factory for Marelli.
Also, it will help improve Marelli’s operational efficiency and expedite the launch of cutting-edge technologies on connectivity and sustainable mobility solutions.
"This partnership is a proof point of the value we bring to the automotive industry and builds upon our growing footprint in Europe and Japan, which are strategic markets for us,” said Harmeet Chauhan, Senior Vice President, Industrial & Engineering Services, Wipro
At 12:07 hrs, Wipro was quoting at Rs 285.95, up Rs 7.30, or 2.62 percent on the BSE.
The share touched its 52-week high Rs 290.65 and 52-week low Rs 159.60 on 31 July 2020 and 19 March 2020, respectively.
Currently, it is trading 1.62 percent below its 52-week high and 79.17 percent above its 52-week low.