Wipro 2 Block Deals: Wipro shares became rocket, investors also became excited, know why there was sudden rise…

Wipro 2 Block Deals: Once again there is a selling environment in the stock market on Friday. However, buying continues in the IT index. There is a rise of 1% in the IT index, which is led by the rise of Wipro.

On Friday, Wipro's share price is trading with a gain of 3%. After Wipro, the contribution of Tech Mahindra is being seen in the rise of IT index. Tech Mahindra shares are up by 2%.

After the elections in America, it is believed that the Indian IT industry may get some big projects. Wipro has some big US clients, the impact of which can be seen in the coming days (Wipro 2 Block Deals).

Wipro has big US clients like Lewis Partners, US Communication Service Providers, Tapestry. Even in June, Wipro had received a contract worth $500 million from US communication service providers.

Shares of Wipro Limited rose by about 3% to Rs 578.8 in Friday's trading session. This happened after reports of two block deals on the counter. The market block deal involved the transaction of 8.5 crore equity shares of Wipro, in which the promoters could be the sellers.

According to Wipro's shareholding pattern available on Trendline, as of September quarter FY25, foreign institutional investors held 7.27% stake in the company, while promoters held 72.8% and mutual funds held about 4.15%.

Wipro 2 Block Deals: Wipro reported 21% rise in net profit to Rs 3,209 crore in Q2FY25 from Rs 2,646 crore reported in the same period a year ago. Wipro also announced the issuance of bonus shares in the ratio of 1:1.

Revenue from operations in the quarter stood at Rs 22,302 crore, which is slightly less than Rs 22,516 crore in the same quarter of the last financial year. Wipro said its total bookings during the quarter were $3.56 billion. Wholesale deal bookings were $1.49 billion, up 28.8% quarter-on-quarter and 16.8% in constant currency.