Tue Dec 03 06:50:53 UTC 2024: ## Wipro Bags $100 Million Contract from Marelli, Announces Bonus Share
**Bengaluru, India** – Global IT services giant Wipro Limited has secured a significant $100 million (approximately ₹830 crore) contract with Italian automotive manufacturer Marelli. The deal involves modernizing Marelli’s IT infrastructure and facilitating its cloud migration. Wipro’s subsidiary, FullStride Cloud Services, will manage the migration of Marelli’s data centers and servers to the cloud, enhancing operational efficiency and responsiveness.
This news follows Wipro’s recent announcement of a 1:1 bonus share issue, with the record date set for December 3, 2024. While Wipro’s stock touched a 52-week high of ₹595, it closed at ₹586.30 on Wednesday, a slight 0.46% dip from the previous day’s closing price. The company currently boasts a market capitalization of ₹3,06,862 crore.
The Marelli contract underscores Wipro’s strong position in the IT sector, particularly in cloud services and digital transformation—key growth drivers currently shaping the industry. Wipro, like many other major players, is investing heavily in AI and Generative AI (GenAI) to optimize costs and operational excellence.
The combination of the substantial contract and the bonus share announcement has generated considerable investor enthusiasm. Wipro’s robust financial health, future plans, and focus on digital transformation continue to position it as a reliable investment option.
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