Big Outsourcing Contract Win for Wipro (WIT)

Includes: INFY, SAY, WIT
by: Himanshu Pandya

Wipro Limited (NYSE: WIT) on Friday announced that it bagged the largest IT outsourcing contract deal in India. The contract with HDFC Bank Ltd. (NYSE: HDB) is valued at about $80 Million or Rs. 360 crores.

India is getting to a point where you will see more big time contracts from the domestic markets for IT heavyweights like Infosys Technologies (Nasdaq: INFY), Satyam Computer (NYSE: SAY) and of course Wipro Limited. Wipro’s stock is approaching its 52 week high of $15.49.