Wipro share price climbs over 3% after firm collaborates with Google Cloud for SAP footprint

Wipro share price closed higher today after the IT company said it selected Google Cloud as the cloud provider for its enterprise-wide SAP footprint. Share price of Wipro rose 3.02% intra day to Rs 276.65 compared to the previous close of Rs 268.55 on BSE. Later, the large cap stock closed 2.57% higher to Rs 275.45 on BSE.  

Wipro share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock has gained 4.5% in the last one year and risen 12% since the beginning of this year.

The stock has risen 22.53% in one month and 1.62% in a week. Total 10.48 lakh shares of the firm changed hands amounting to turnover of Rs 28.64 crore.

This latest collaboration solidifies the strategic relationship between the companies as they roll out two major initiatives across Wipro's global organisation, the company said.

Wipro will modernise and transform its core ERP system to SAP's flagship S/4HANA and migrate the SAP workloads onto Google Cloud Platform (GCP). Wipro will leverage the advanced intelligent ERP from SAP along with the flexibility and scalability of the GCP for hosting SAP Workloads.

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"This transformation program will help us to run our most business-critical workloads and applications with speed and agility, and support our customers more effectively," said Bhanumurthy B.M, President and Chief Operating Officer, Wipro.

In Q1, the IT firm reported a marginal rise in consolidated profit to Rs 2,390.4 crore in Q1 of current fiscal. In corresponding quarter of previous fiscal, the IT firm reported a consolidated profit of  Rs 2,387.6 crore.  

On a quarter-on-quarter basis, net profit rose 2.8 per cent from Rs 2,326 crore in March quarter of FY20.