Stocks in the news | SBI, Wipro, Infosys, PNC Infratech, GMR Infra, Tech Mahindra, Tata Motors
Hero MotoCorp, Tata Elxsi, Bharti Airtel, Bharat Rasayan, V2 Retail, Emami, Filatex India, Vikas Multicorp, HPL Electric & Power, Sterlite Technologies, Alkem Laboratories, are also among the stocks in focus today. Here is the list of stocks in the news today. Wipro | The software services provider is expected to report revenue growth within its given guidance for the quarter ended December 2020 driven by large deals wins. Key things to watch out for would be Q4 guidance; execution of past large deals; the outcome of annual budgeting cycle of clients and its implications for Wipro; large deal pipeline and pace of decision making; demand commentaries of key verticals; and exits and new hires resulting from the change in the organization structure.
Here s a list of stocks that may remain in focus today.
UPL: Shares of UPL will continue to be in focus on Friday after the management clarified that the matter flagged by a whistleblower was an old matter and was reported to the audit committee in 2017. After an independent probe, the matter was closed, it said.
PNC Infra: PNC Infratech Limited in Joint Venture with SPML Infra, has announced receipt of Letter of Acceptance (LOA) for an EPC roject for 10 years of Rural Water Supply Project in 952 villages in Devipatan Division of Uttar Pradesh. Approximate value of the Project is Rs 952 crore.
India: Wipro Infrastructure acquires industrial automation firm PARI
Photo: Reuters Premium
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PARI acquisition to help Wipro Infra gain top spot in industrial automation
The definitive agreement to acquire Precision Automation and Robotics India (PARI) will give Wipro Infrastructure Engineering increased market access and larger play in industrial IoT
Rukmini Rao | December 10, 2020 | Updated 22:32 IST
Wipro Infrastructure Engineering acquires industrial automation firm PARI
Privately held, Wipro Enterprise s Infrastructure Engineering company announced the acquisition of Pune-based Precision Automation and Robotics India (PARI) for an undisclosed sum. PARI, which is a leading provider of turnkey solutions in industrial automation and robotic automation with over 75 global customers, has facilities in Pune and Detroit. In automotive solutions, in particular, PARI has clients such as Tata Motors, Mahindra & Mahindra, Hero and global companies like BMW, Ford and Chrysler among others. It has also been an early mover and has a significant presence in electric vehicle space
The Bengaluru-headquartered company didn t reveal finances of the deal to bag India’s largest automation company. “PARI brings in the domain expertise, technical capability and customer centricity for turnkey automation solutions. It has rich experience and completes our overall proposition to serve globally going forward,” said G Sundararaman, Senior VP and Business Head, Wipro Infrastructure Engineering (WIN) Automation. With this acquisition WIN Automation will be focussing on segments such as engineering, aerospace, railways, hybrid industries like pharma and FMCG to provide turnkey solutions in industrial automation. PARI which has an annual turnover of Rs 500 crore is the largest automation company in India which exports end-to-end automation solutions to companies worldwide including Ford, Suzuki, Renault, Daimler. Automotive manufacturers such as Tata Motors and Maruti are some of their customers in India.