Following the rise in its stock price, Wipro’s market valuation increased by Rs 19,176.77 crore, reaching Rs 3,14,252.14 crore as of January 20.
Wipro news: Shares of Wipro on Monday ended nearly 7 per cent higher after the firm topped street expectations with a 24.4 per cent year-on-year rise in consolidated net profit for the December quarter. The stock ended at Rs 300.15, a jump of 6.49 per cent on the BSE. During the day, it surged 8.33 per cent to Rs 305.35.
Shares of the firm climbed 6.57 per cent to Rs 300.50 on the NSE. The company’s market valuation went up Rs 19,176.77 crore to Rs 3,14,252.14 crore. In traded volume terms, 24.40 lakh shares of the firm were traded at the BSE and 393.80 lakh shares on the NSE during the day.
Following the rise in its stock price, the company’s market valuation increased by Rs 19,176.77 crore, reaching Rs 3,14,252.14 crore as of January 20. This occurred during the market hours, which operate for approximately six hours from Monday to Friday. As reported by Forbes, tech entrepreneur Premji currently has a real-time net worth of USD 12.1 billion.
Wipro on Friday topped street expectations with a 24.4 per cent year-on-year rise in consolidated net profit for the December quarter at Rs 3,354 crore, as the top brass of India’s fourth-largest IT services company guided for a “more hopeful and resilient” 2025.
Its CEO and Managing Director Srinivas Pallia said clients are cautiously optimistic, and added that discretionary spending is slowly returning.
Wipro, which competes with larger rivals such as TCS and Infosys in the IT services market, reported better-than-expected net profit numbers for the December quarter, but called out softness in Asia Pacific, Middle East and Africa (APMEA) and European regions.
The Bengaluru-based tech major saw its revenue from operations rise a marginal 0.5 per cent to about Rs 22,319 crore, aided by momentum in banking, financial services, and insurance space as well as Americas geography.
For the March quarter, Wipro sees revenue from IT services business in the range of USD 2,602 million to USD 2,655 million, which sequentially translates into a band of 1 per cent decline to 1 per cent growth.
(With inputs from agencies)
Comments are closed.