Wipro jumps 1.5%, to exit hardware manufacturing biz

Moneycontrol Bureau

Shares of Wipro jumps 1.5 percent intraday on Thursday as the company is shutting down its manufacturing of computers and servers.
Depending on market scenario and consumer preferences, the country's third largest software services player decided to make an exit from the hardware manufacturing business. It will discontinue manufacturing Wipro branded desktops, laptops and servers.
"After evaluating the changing market scenario and customer needs, Wipro has decided to strengthen its position as system integrator (SI) and increase its focus on IT solutions and services," Wipro said.
However, it will continue to have a presence in the hardware business offering solutions in large integrated deals.
The company will re-deploy all the affected employees in the company.
At 10:28 hrs Wipro was quoting at Rs 492.30, up Rs 0.70, or 0.14 percent on the BSE.