Wipro shares nosedived over 9 pc after missed earnings expectations
Shares of IT major Wipro nosedived on Monday by nearly 9.3 per cent over missed expectations in its April-June quarter results and a weak guidance for the next quarter.
Wipro 3D and the Indian Institute of Science (IISc) have joined hands to build country’s first industrial grade metal 3D printer, announced the IT giant on Saturday.
“The country’s first 3D printing machine works on selective electron beam melting technology and offers higher build rate, better thermal management, higher density and superior mechanical properties,” a statement released by the company stated.
Wipro 3D business of Wipro Infrastructure Engineering and IISc have developed the industry grade additive manufacturing machine.
Advertisement
Ajay Parikh, Wipro 3D business head said that the new facility symbolises Wipro’s effort to indigenise and industrialise metal additive printing technology.
Anurag Kumar, IISc director said, “The Government of India, Department of Heavy Industries has been instrumental in enabling such an important program. We are happy to see our collaboration with Wipro 3D has culminated in this product development,” said Kumar.
Meanwhile, the Department of Heavy Industries Secretary A.R. Sihag said the collaboration between the two institutes should mature enough to compete in the future globally.
The futuristic Wipro 3D offers wide range of services including layered or additive manufacturing, product engineering and consulting services to various industries. Its solutions also include setting up captive additive manufacturing centres and research and development centres.
(With input from agencies)
Advertisement
