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Wipro 3rd IT company to hit Rs 3 lakh crore market cap

Wipro 3rd IT company to hit Rs 3 lakh crore market cap Top Searches Wipro 3rd IT company to hit Rs 3 lakh crore market cap Avik Das & Partha Sinha / TNN / Updated: Jun 4, 2021, 08:42 IST FacebookTwitterLinkedinEMail BENGALURU/MUMBAI: Wipro touched a record Rs 3 lakh crore (or Rs 3 trillion) in market capitalisation, becoming only the third Indian IT company to do so after TCS and Infosys. The company’s shares have seen a strong rally over the past one year, suggesting investor confidence in its strategies under new CEO Thierry Delaporte. Shares of the Azim Premji-owned company opened at Rs 546 on the BSE on Thursday, before touching an intra-day high of Rs 550, which took its market cap to a shade over Rs 3 lakh crore. The stock, however, pared the gains to close at Rs 539, down less than 1% from Wednesday’s close.

How Wall Street s greatest hedge fund manager got it all wrong on Tata Motors

Explore Now MUMBAI: Jim Simons, considered one of the greatest money managers to ever walk on Wall Street, is credited with revolutionising global equity markets by introducing computer model-based trading strategies. His hedge fund Renaissance Technologies, which uses quantitative strategies to make money for its clients, is the undisputed king of hedge funds, when it comes to performance. In his book The Man Who Solved The Market, Gregory Zuckerman said that Simons flagship Medallion Fund generated annual returns of 66 per cent CAGR since 1988, beating the likes of Peter Lynch, Ray Dalio and even Warren Buffett. Yet, the greatest money-maker in the world perhaps did not see the head-spinning rally in the shares of Tata Motors coming.

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