Wipro has a market cap of ₹ 3 trillion, read how a cooking oil company became the third largest IT firm today - Newztezz Online


Thursday, June 3, 2021

Wipro has a market cap of ₹ 3 trillion, read how a cooking oil company became the third largest IT firm today

New Delhi. Wipro Limited on Thursday touched the ₹3 trillion mark in market capitalization for the first time. With this Wipro became the third Indian IT firm to achieve the feat. During the early trading of the stock market on Thursday, the stock of Wipro reached a record high of ₹ 550 and its market cap was ₹ 3.01 trillion.

Danveer is the founder of Wipro

The name of Azim Premji, the founder and chairman of Wipro, is famous all over the world today. Premji

gave Wipro a new identity in the whole world with his visionary thinking and hard work. Prem ji's name is included in the richest Indians. But the special thing is that Prem ji is also at the forefront of donating. According to the Hurun India Philanthropic List, Premji has donated Rs 22 crore per day in the Corona crisis. Let us know how Wipro is scaling new heights of success under the leadership of Azim Premji. Azim Premji, 75, still works with the same zeal and enthusiasm as he used to do 52 years ago.

Earlier the business of cooking oil used to run

Premji was born in the year 1945 in Mumbai. His father Mohammad Hashem Premji was a reputed businessman. He established the Western Indian Vegetable Products Limited to produce Vegetable Shortening (Dalda Ghee) and Refined Oil. Dalda Ghee (Vegetable Shortening) which is a household name in India is the oldest product of Wipro.

Premji had to leave studies midway

After completing his education in Mumbai, Azim Premji did an electrical engineering course from Stanford University, USA. After this, after the untimely demise of his father, he had to take over his family business in 1966. His family business was of hydro generated cooking fat. At that time Azim Premji's father was a big rice merchant. After this, Azim Premji became the chairman of Wipro at the age of just 21. Wipro was established in the year 1945 as Western Vegetable Products Company.

How Wipro turned from an oil company to an IT company

Let us tell you that Wipro was earlier called a company manufacturing Western Vegetable Products but Azim Premji later changed it to a company making bakery, toilet related products, hair products, children related products. Wipro company set foot in the world of IT in the year 1980. At that time the IBM company was leaving India. Wipro got a lot of benefit from this. The company made business deals with many companies in America and the company created many success stories. After this the company also ventured into many other areas.

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