NSE Symbol: WIPRO | BSE Code: 507685
Wipro Limited is currently a prominent IT company that also does consult work and provides business process services. It focuses on providing services to clients using hyper-automation, cognitive computing, robotics, cloud, and analytics. It has around 160,000 employees, and the company serves clients globally across six continents. In the 1970s and 1980s, the company concentrated more on computers and technology. In 2012, the company announced that its non-IT divisions will be detached from its IT businesses and that the non-IT division would be known as Wipro Enterprises Limited.
Wipro established in 1945. Initially, the company was Western India Palm Refined Oils Limited. Its name was later changed as Western India Products Limited. Initially, it only manufactured vegetable and refined oils in Maharashtra. Just in the 1970s and 1980s, the company focused on computing and other new technology. Around 1990, the company began working on R&D services for third parties. It also started working for third parties on IT services. The company had been listed in the New York Stock Exchange by 2000. In the new millennium, the company has also entered into the BPO business. The company decided to segregate its non-IT and IT divisions in 2012. The company had introduced the 'Wipro Digital' scheme by 2015. This objective of the scheme was to add significant capabilities to the company. In 2017, the company announced that it was launching a new brand identity and the company rearticulated the 'Spirit of Wipro' in a way that showed that the company was committed to evolving and transforming itself to meet changing customer requirements.
Mr. Azim H. Premji is the Chairman of Wipro. Mr. Abidali Z. Neemuchwala is the CEO and a Member of the Board. Mr. Rishad Premji is the Chief Strategy Officer and a Member of the Board. The company has seven Independent Directors. The Executive Committee consists of seventeen people including the CEO. There are four Committees of Board, each of which contains at least three people. The Strategy Committee is the only committee that has seven people.
Wipro's shares are bought and sold on the BSE and the NSE. Along with this, the stock is traded on the NYSE too.
Other than these, the company is also listed on the Bangalore Stock Exchange Limited, Cochin Stock Exchange Limited, et cetera.
Wipro also forms a part of indices like the Nifty 100, Nifty LargeMidcap 250, S&P BSE 500, et cetera.
As of March 2018, Wipro has a market capitalization of over Rs.143,000 crore.
The stock dipped again in March 2018, touching a low of about Rs.285 before recovering still. By 15 March 2018, the stock was trading at about Rs.293.
Wipro is a large IT firm. The demands for IT firms will not reduce any time shortly. Therefore, the company will continue to generate high revenues.
In 2008, the company even invested in clean energy which is a game-changing industry. The potential for massive profits is high.
In 2014, Wipro signed a $1.2 billion contract which stipulates a contract period of about ten years with a Canadian firm.
In late 2016, Wipro also obtained a cloud services company.
All of these indicate that Wipro is a company that had positioned itself as a leading provider of various services around the world.
While all these reasons can be stated to indicate that one should invest in Wipro's stocks, it is better to perform personal research based on financial profile and risk appetite.