Wipro Shares Rise on Acquisition of Singapore-Based Consumer Goods Company
December 10, 2012 9:36 AM IST
Wipro Ltd (WIPR.NS), India's No.3 software services provider, gained 2.5 percent in pre-open trade after the company in a statement on Sunday said it would acquire L.D. Waxson Group, a Singapore-based consumer goods company, in an all-cash deal worth about $144 million.
Dealers also attribute gains to reports in the Economic Times newspaper that Wipro has bagged a $200-million (10.9 billion rupees) technology service contract in Europe, citing a person with direct knowledge of the negotiations.
- American Bazaar Conclave 2014: Opportunities and Challenges in Information Technology in US Post-Recession
- Once the Preserve of Youth, Indian IT Staffing Enters Middle Age
- Wipro Eyes more Financial Deals to Boost Growth
- TCS Net Profit Surges 49.6 Percent, Sees Stronger Growth in Next Fiscal
- Sensex Marks Weakest Start Since 2011; IT Stocks Hit
- BSE Sensex Extends Retreat; Foreign Investors Sell
- Sensex Falters; IT Stocks Hit by Profit-booking
- Sensex Gains 371 points; RIL Shares Rise 4.8 percent
- Sensex Gains around 200 points; IT stocks, RIL lead
- Sensex up Nearly 1%; IT Sector Gains on Weak Rupee