21 Nov 2024

Wipro's Stock Rises Following Collaboration with Lineaje

Wipro's share price climbed to ₹566.70 on the BSE, gaining 0.90% or ₹5.05 from its previous close of ₹561.65. The stock opened at ₹560.05 and reached a high of ₹566.70, with a low of ₹560.00 during the trading session. A total of 20,657 shares changed hands.

This 'A' group stock, with a face value of ₹2, recorded a 52-week high of ₹583.00 on November 11, 2024, and a 52-week low of ₹393.20 on November 28, 2023. Over the past week, the scrip’s high and low stood at ₹574.50 and ₹540.25, respectively. Wipro’s market capitalization currently stands at ₹2,93,841.49 crore. Promoters hold 72.80% of the company’s shares, while institutions and non-institutional investors hold 15.98% and 8.89%, respectively.

The stock’s rise aligns with Wipro’s collaboration with Lineaje, a US-based software supply chain security firm. Through its investment arm, Wipro Ventures, the company has invested in Lineaje to enhance security in enterprise software applications. The partnership will utilize Lineaje's Open-Source Manager and SBOM360 Hub to help businesses identify and address vulnerabilities in their software’s open-source components.

This advanced solution enables a deep analysis of software components, uncovering hidden dependencies and assessing potential risks. The service not only verifies the authenticity of the software supply chain but also proactively eliminates vulnerabilities at their source and mitigates potential risks.

The partnership reflects Wipro's commitment to innovation and security, providing enterprises with robust tools for managing software supply chain risks. With Lineaje, Wipro aims to revolutionize risk management and vulnerability mitigation for its enterprise clients.