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This is an archive article published on November 2, 2012

Wipro to club non-IT biz into unlisted arm

Following the move,shares of the IT major surged nearly 7 per cent in morning trade. The company’s scrip closed at Rs 361.40,up 3.02 per cent from the previous close on BSE.

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Country’s third largest software firm Wipro today said it will demerge its non-IT businesses into a new company,a move which will allow it to focus exclusively on information technology.

The new unlisted firm will be called Wipro Enterprises and include Wipro Consumer Care & Lighting (including furniture business),Wipro Infrastructure Engineering (hydraulics and water businesses) and Medical Diagnostic Product & Services business.

Following the move,shares of the IT major surged nearly 7 per cent in morning trade. The company’s scrip closed at Rs 361.40,up 3.02 per cent from the previous close on BSE.

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