Sep 8, 2016

Wipro awarded IT contract by Norway’s Railway Company NSB

Bangalore: Wipro today announced that it has won an IT contract from NSB Group, one of Norway’s largest transportation groups.

Headquartered in Oslo, NSB has extensive passenger transportation operations by way of the rail and bus, freight by rail, property management and development and train maintenance segments.
As part of the three-year agreement, Wipro will implement its Boundaryless Datacenter (BLDC) and LiVE Workspace solutions and utilize its next-generation delivery framework ServiceNXT to deliver services which will help NSB variablise their IT operations.

The proposed government-backed reforms in the Norwegian railway sector are expected to provide a fillip to the efficiency of the railways. The Wipro-enabled back-bone of IT infrastructure services will enable NSB to achieve greater flexibility, scalability, cost efficiency and offer an enhanced end-user experience. It will also help the company become more future-ready and competitive, in keeping with the spirit of the reforms.

Trude Ostby Dahl, CIO, NSB Group said, “This engagement is strategic to our business continuity operations and we believe that Wipro is the best partner for us. With our data center and end user support enabled by Wipro, we can drive cost reduction and efficiencies, and most importantly, bring about joint innovations to serve our customers better.”

Carl-Henrik Hallstrom, Head, Nordic Region, Wipro said, “In order to keep pace with changes on the market, rising customer expectations and emerging technologies, enterprises must reinvent their traditional IT infrastructure and data center service capabilities. We are confident that Wipro’s ServiceNXT framework offering will enable NSB to optimize, automate and manage its IT in an agile manner. Furthermore, this engagement reiterates our continued focus and investments in Norway and the Nordic region.”

“We are delighted to partner with NSB in an engagement that will have a significant positive impact on the Norwegian transportation sector and the customer experience of millions of passengers. This is a prestigious engagement for us and we look forward to leveraging our transportation sector domain expertise, coupled with our deep infrastructure services capability and technology know-how,” said Srini Pallia, President–Consumer Business, Wipro.

Stock Commentary:

Wipro Ltd is currently trading at Rs. 486.85, up by Rs. 4.05 or 0.84% from its previous closing of Rs. 482.8 on the BSE.

The scrip opened at Rs. 486.8 and has touched a high and low of Rs. 489 and Rs. 483.6 respectively. So far 642352(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 117358.18 crore.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 613 on 01-Oct-2015 and a 52 week low of Rs. 476 on 29-Aug-2016. Last one week high and low of the scrip stood at Rs. 495.9 and Rs. 479.75 respectively.

The promoters holding in the company stood at 73.25 % while Institutions and Non-Institutions held 16.31 % and 9.84 % respectively.

The stock is currently trading below its 200 DMA.

 

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