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Wipro Gains 2%; BSE IT Index Up 0.9%
Tue, 2 Jul 13:18

Wipro Gains 2%; BSE IT Index Up 0.9%Image source: Chunumunu/www.istockphoto.com

Wipro share price has zoomed 2% and is presently trading at Rs 538.5.

Meanwhile, the BSE IT index is at 37,964.8 (up 0.9%).

Among the top gainers in the BSE IT index today are Firstsource Solutions (up 3.6%) and Coforge (up 2.3%).

Mastek (down 1.4%) and KPIT TECHNOLOGIES (down 1.3%) are among the top losers today.

Over the last one year, Wipro has moved up from Rs 381.7 to Rs 538.5, registering a gain of Rs 156.8 (up 41.1%).

On the other hand, the BSE IT index has moved up from 29,192.0 to 37,964.8, registering a gain of 30.1% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 163.3%), Birlasoft (up 102.4%) and ZENSAR TECHNOLOGIES (up 96.8%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 79,340.3 (down 0.2%).

The top losers among the BSE Sensex today are Kotak Bank (down 3.8%) and Indusind Bank (down 2.4%). The most traded stocks in the BSE Sensex are Tata Steel and SBI.

In the meantime, NSE Nifty is at 24,104.5 (down 0.2%). Kotak Bank and Shriram Transport are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 63,915.4 to 79,340.3, registering a gain of 15,424.9 points (up 24.1%).

Wipro Financial Update...

Wipro net profit fell 6.9% YoY to Rs 28,784 million for the quarter ended March 2024, compared to a profit of Rs 30,931 million a year ago. Net sales declined 4.2% to Rs 222,083 million during the period as against Rs 231,903 million in January-March 2023.

For the year ended March 2024, Wipro reported 2.2% decrease in net profit to Rs 111,121 million compared to net profit of Rs 113,665 million during FY23. Revenue of the company fell 0.8% to Rs 897,603 million during FY24.

The current Price to earnings ratio of Wipro, based on rolling 12 month earnings, stands at 25.3.

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