Wipro shares in news today on collaboration with Siemens, Hewlett Packard Enterprise

Shares of IT major Wipro are in news today after the firm said it has joined hands with Siemens to transform automotive software development through the integration of the PAVE360 software and digital twin technologies from Siemens. In a separate disclosure, Wipro announced a strategic collaboration with Hewlett Packard Enterprise (HPE) to launch a GenAI solution within the new Customer Experience Center at the Wipro Cloud Studio’s Kodathi office to serve customers globally.

The stock has a one-year beta of 0.8, indicating very low volatility during the period.

In the previous session, the Wipro stock ended 1.15% higher at Rs 482.40 on BSE. Market cap of Wipro climbed to Rs 2.52 lakh crore on BSE. Total 5.65 lakh shares of the firm changed hands amounting to a turnover of Rs 27.30 crore on BSE.

Wipro shares have gained 22% in a year and risen 1% this year.

In terms of technicals, the relative strength index (RSI) of Wipro stands at 62.1, signaling the stock is neither oversold nor overbought. The IT stock stands higher than the 10 day, 20 day, 50 day, 100 day, 150 day and 200 day moving averages. 

The collaboration with Siemens aims to significantly accelerate the development, testing, and validation of automotive software, leading to higher efficiency and quality and faster innovation within the automotive sector, the IT firm said

Swarup Mandal, General Manager & Global Head Automotive Wipro Engineering Edge, Wipro said, "We are delighted to collaborate with Siemens EDA to drive innovation and transformation in the automotive industry. By combining Siemens' PAVE360 technologies with our Cloud Car offerings, we will provide an AI powered Virtual Vehicle Validation Platform, which enables our customers to develop SDV efficiently."

The collaboration with HP will leverage Wipro's Smart Operations platform and HPE Machine Learning Development Environment to enhance operational efficiency and customer experience.

Jo Debecker, Managing Partner and Global head, Wipro FullStride Cloud, said, “The cocreation of this GenAI platform is a testament to our longstanding strategic partnership with HPE and to our unwavering commitment to delivering advanced AI solutions within our new Customer Experience Center. This practice-specific center will showcase the potential of HPE Machine Learning Development Environment along with Wipro's cutting-edge solutions. Together we will continue to push the boundaries of innovation to ensure our clients realize their business ambitions.”