Wipro Rallies Over 8% After Strong March Quarter Earnings Wipro s IT services earnings before interest and tax (EBIT) grew by 1.1 percent QoQ to Rs 3,417 crore and margin contracted 80 bps QoQ at 20.92 percent for Q4 of FY21.
Updated: April 16, 2021 10:28 am IST
Wipro shares traded 7.24 per cent higher at Rs 462, outperforming the Sensex which was up 0.4 per cent.
Shares of the country s third largest software services company - Wipro - rose as much as 8.2 per cent to hit an intraday high of Rs 466 on the BSE a day after it reported better-than-expected March quarter earnings. The company post market hours on Thursday reported that its net profit rose 27.8 per cent annually to Rs 2,970 crore on the back of revenue of Rs 16,250 crore. Analysts on an average were expecting the company to report net profit of Rs 2,897 crore.
Wipro share rises 2% on acquisition of Australian cybersecurity firm
Wipro share touched an intraday high of Rs 422.75, rising 2.06% on BSE. The IT stock has gained 120% in one year and risen 8.08% since the beginning of this year
BusinessToday.In | April 1, 2021 | Updated 15:21 IST
Wipro share trades higher than 5 day, 100 day and 200 day moving averages but lower than 20 day and 50 day moving averages
Wipro stock rose over 2% after the IT services firm said said it would acquire Ampion, an Australia-based provider of cyber security, DevOps and quality engineering services for $117 million (about Rs 857 crore). Wipro share touched an intraday high of Rs 422.75, rising 2.06% on BSE.
Read more about Earnings impact, valuation concerns for Capco deal to weigh on Wipro stock on Business Standard. Intent to scale up BFSI portfolio is positive but analysts see integration and execution risks
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