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Wipro Gains 4%; BSE IT Index Up 1.0%
Mon, 14 Oct 13:48

Wipro Gains 4%; BSE IT Index Up 1.0%Image source: Kameleon007 /www.istockphoto.com

Wipro share price has zoomed 4% and is presently trading at Rs 548.9.

Meanwhile, the BSE IT index is at 43,234.0 (up 1.0%).

Among the top gainers in the BSE IT index today are Mastek (up 3.0%) and Tech Mahindra (up 2.7%).

INTELLECT DESIGN (down 1.8%) and INFIBEAM AVENUES (down 1.5%) are among the top losers today.

Over the last one year, Wipro has moved up from Rs 407.6 to Rs 548.9, registering a gain of Rs 141.3 (up 34.7%).

On the other hand, the BSE IT index has moved up from 32,901.6 to 43,234.0, registering a gain of 31.4% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 179.2%), Firstsource Solutions (up 94.6%) and PERSISTENT SYSTEMS (up 91.7%).

Don't Miss: Key Information for Long-term Investors

What About the Benchmark Indices?

The BSE Sensex is at 81,971.6 (up 0.7%).

The top gainers among the BSE Sensex today are Tech Mahindra (up 2.7%) and L&T (up 2.4%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 25,112.6 (up 0.6%). L&T and Tech Mahindra are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,079.4 to 81,971.6, registering a gain of 15,892.3 points (up 24.1%).

Wipro Financial Update...

Wipro net profit grew 5.4% YoY to Rs 30,411 million for the quarter ended June 2024, compared to a profit of Rs 28,857 million a year ago. Net sales declined 3.8% to Rs 219,638 million during the period as against Rs 228,310 million in April-June 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 25.4.

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