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Wipro Plunges 4%; BSE IT Index Down 1.5%
Thu, 3 Oct 13:56

Wipro Plunges 4%; BSE IT Index Down 1.5%Image source: DNY59/www.istockphoto.com

Wipro share price has plunged 4% and is presently trading at Rs 528.2.

Meanwhile, the BSE IT index is at 42,167.1 (down 1.5%).

Among the top losers in the BSE IT index today are PERSISTENT SYSTEMS (down 4.8%) and L&T TECHNOLOGY SERVICES (down 4.4%).

INFIBEAM AVENUES (up 5.5%) and KPIT TECHNOLOGIES (up 1.3%) are among the top gainers today.

Over the last one year, Wipro has moved up from Rs 405.4 to Rs 528.2, registering a gain of Rs 122.8 (up 30.3%).

On the other hand, the BSE IT index has moved up from 31,998.7 to 42,167.1, registering a gain of 31.8% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 171.6%), Firstsource Solutions (up 87.3%) and PERSISTENT SYSTEMS (up 82.2%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 82,557.8 (down 2.0%).

The top losers among the BSE Sensex today are Asian Paints (down 4.4%) and L&T (down 4.0%). The most traded stocks in the BSE Sensex are HDFC Bank and Reliance Ind..

In the meantime, NSE Nifty is at 25,255.2 (down 2.1%). BPCL and IOC are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,512.1 to 82,557.8, registering a gain of 17,045.7 points (up 26.0%).

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 24.5.

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