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Wipro Gains 4%; BSE IT Index Down 1.8%
Fri, 18 Oct 10:35

Wipro Gains 4%; BSE IT Index Down 1.8%Image source: DNY59/www.istockphoto.com

Wipro share price has zoomed 4% and is presently trading at Rs 547.7.

Meanwhile, the BSE IT index is at 42,353.5 (down 1.8%).

Among the top gainers in the BSE IT index today are Mastek (up 1.3%) and INDIAMART INTERMESH (up 0.6%).

LTIMINDTREE (down 5.1%) and Infosys (down 4.1%) are among the top losers today.

Over the last one year, Wipro has moved up from Rs 410.1 to Rs 547.7, registering a gain of Rs 137.6 (up 33.6%).

On the other hand, the BSE IT index has moved up from 32,175.6 to 42,353.5, registering a gain of 31.6% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 178.8%), Firstsource Solutions (up 102.0%) and PERSISTENT SYSTEMS (up 88.9%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,780.7 (down 0.3%).

The top losers among the BSE Sensex today are Infosys (down 4.1%) and Tech Mahindra (down 2.4%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,741.6 . Infosys and ITC are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,166.9 to 80,780.7, registering a gain of 14,613.8 points (up 22.1%).

Wipro Financial Update...

Wipro net profit grew 20.8% YoY to Rs 32,263 million for the quarter ended September 2024, compared to a profit of Rs 26,703 million a year ago. Net sales declined 1.0% to Rs 223,016 million during the period as against Rs 225,159 million in July-September 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 24.2.

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