Shares of Wipro fell 7.87 percent to Rs 513.35 on the BSE (BSE). Wipro’s market capitalization fell to Rs 269 crore on the BSE.
Shares of IT firm Wipro fell 8 percent in early trading on Monday after the company reported first-quarter results. Wipro’s consolidated net profit rose 5.21% YoY to Rs 3,036.6 billion in the first quarter from Rs 2,886 crore in the same period last year. Revenues fell 3.79 percent to Rs 21,963.8 crore in June 2024 compared to Rs 22,831 crore in the same period last year. Wipro’s IT services revenue reached Rs 21,896 crore.
Shares of Wipro fell 7.87 percent to Rs 513.35 on the Bombay Stock Exchange in the current session. Wipro’s market capitalization fell to Rs 269 crore on the BSE. Over 5.82 lakh shares of the company changed hands, valued at Rs 3,012 crore on the BSE.
Technically, Wipro’s strength index (RSI) is 67.3 indicating that it is neither oversold nor undersold. IT stocks are trading above the 50-day, 100-day, 150-day and 200-day moving averages but below the 5-day, 10-day and 20-day moving averages. The IT company said that the revenues of the IT services business units were in the range of $2.6 billion to $2.652 billion in September. On a constant currency basis, this equates to a negative series lead of 1% to 1%.