"As a part of the transaction, Wipro will take over the IT units of Metro AG - Metro-Nom - in Germany and Metro Systems in Romania," said the city-based IT firm in a statement.
The stock tumbled 6.85 per cent to Rs 350 on the BSE. At the NSE, it plummeted 6.90 per cent to Rs 350. Wipro on Tuesday posted a 3.4 per cent decline in consolidated net profit to Rs 2,465.7 crore
This acquisition will help Wipro to expand into newer market segments and elevate customers' journey in connected products, embedded AI and security, the regulatory filing by WIpro said
"Going ahead, market is expected to remain positive but with sector/stock specific action. Investors would now track earnings season and watch out for management commentaries."