Wipro share price: The stock surged 5.16 to scale a one-year high of Rs 545. At this price, it has gained 54.90 per cent from its 52-week low value of Rs 351.85, a level seen on April 17 last year.
Shares of Wipro surged 13 percent in intra-day deals today to hit a fresh 52-week high of ₹526.45 as the company s December quarter earnings beat estimates even though it reported a decline in its net profit for the December quarter (Q3FY24).
Wipro s shares surged 10% to reach a 52-week high of Rs 511.95 after the release of its Q3 results. The company s consolidated net profit declined by nearly 12% YoY to Rs 2,694 crore, while its consolidated revenue dropped 4.4% to Rs 22,205 crore. Brokerages like Jefferies and BofA maintained an Underperform rating, while Kotak Institutional Equities recommended a Reduce and Nuvama suggested a Hold . Wipro s Q4 growth guidance and continued headcount declines are concerning for the company. However, the company s sustainability and improved demand commentary are encouraging factors.
Wipro Share Price Live: The stock hit its circuit limit at Rs 511.95 on BSE. The IT scrip is up 15 per cent in the last one month. This is against a 7 per cent rise for HCL Tech, 5 per cent for Infosys and 2 per cent for TCS.
Infosys, TCS, Wipro, LTI Mindtree and TechMahindra were the top gainers on NSE in Friday trade.TCS reported better than expected earnings, while Infosys earnings