Wipros revenue from operations in the reporting period declined 4% YoY to Rs 22,208 crore, compared with Rs 23,190 crore in the corresponding period of last year.
Nifty has had a spectacular rally so far, with the benchmark index trading at life-time highs. Most of the key technical indicators including the Advance-Decline Line, 87% stocks trading above their 200-day moving average, and lower India VIX – all point towards an overall positive investor confidence, Aamar Deo Singh, Senior Vice President-Equity, Commodity & Currency at Angel One said.
Wipro s American Depository Receipts (ADRs) on January 12 surged almost 18 percent to hit a near-20-month high of $6.35 after the company reported its December quarter earnings.
The spillover of positive sentiments around Indian IT stocks, after decent third-quarter results by peers Infosys and TCS, is likely reflected in the sharp surge of ADRs of Wipro.
American venture capital firm Sequoia Capital has exited Quick Heal Technologies Ltd, by selling its entire 3.4% stake in the company through the open market on Thursday.