Wipro stocks fall nearly 4 percent after Capco deal

IT services major Wipro’s shares on Friday went down nearly 4 per cent in early trade after the firm said it has signed an agreement to acquire Capco, a global management and technology consultancy, in a USD 1.45 billion (over Rs 10,500 crore) deal. This will be the biggest ever acquisition by Wipro.
On BSE, the shares were trading at Rs 421.30, lower 3.99 per cent over the previous close.
Similarly, on NSE, the scrip was trading 3.98 per cent lower at Rs 421.30.
Clients will benefit from a combination of Wipro’s capabilities in strategic design, domain and consulting, digital transformation, cloud, cybersecurity, data and IT services with Capco’s deep domain and consulting capabilities across banking, payments, capital markets, insurance, risk and regulatory offerings, Wipro said in a regulatory filing on Thursday.