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    507685   INE075A01022

WIPRO LIMITED

(507685)
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Indian shares close higher as IT rally offsets virus-induced slump

04/16/2021 | 06:48am EDT
A bird flies past the Bombay Stock Exchange building in Mumbai

BENGALURU (Reuters) - Indian shares closed higher on Friday, led by a 9% jump in Wipro after strong quarterly results, as investors momentarily shifted focus from surging coronavirus cases and awaited cues from further corporate earnings.

The NSE Nifty 50 index closed 0.25% higher at 14,617.85, while the S&P BSE Sensex was flat at 48,832.03.

For the week, both indexes fell around 1.5% each as India reported a record jump in new coronavirus cases for the eighth time in the last nine days. The fresh surge in cases has prompted a lockdown in Maharashtra, home to the financial hub of Mumbai.

On Friday, shares of IT services firm Wipro Ltd soared 9% a day after it reported a 28% rise in quarterly profit, beating analysts' estimates.

Indian companies kicked off another corporate earnings season with index heavyweights Tata Consultancy Services and peer Infosys Ltd logging a jump in quarterly profit earlier this week.

IT stocks closed 1.2% higher but clocked a weekly loss of 3.8% due to a heavy sell-off in equity markets sparked by rising coronavirus cases.

Pharmaceutical stocks, several of which make COVID-19 medication, settled 1.9% higher as demand for such drugs, including remdesivir, rose with cases climbing.

Auto stocks closed 1.2% higher, led by a 2% rise each in Tata Motors Ltd and Mahindra and Mahindra Ltd.

Metal stocks advanced 0.8% as benchmark iron ore prices rose on strong demand.

(Reporting by Soumyajit Saha in Bengaluru; Editing by Krishna Chandra Eluri)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
INFOSYS LIMITED -0.08% 1602.55 Delayed Quote.27.72%
NIFTY 50 -0.49% 15746.45 Delayed Quote.13.18%
SENSEX 30 -0.52% 52578.76 Real-time Quote.10.94%
TATA CONSULTANCY SERVICES LTD. -0.46% 3182.95 Delayed Quote.11.70%
TATA MOTORS LIMITED -0.61% 291.3 End-of-day quote.58.57%
WIPRO LIMITED 0.15% 591.5 End-of-day quote.53.14%
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Financials
Sales 2022 774 B 10 394 M 10 394 M
Net income 2022 121 B 1 624 M 1 624 M
Net cash 2022 207 B 2 776 M 2 776 M
P/E ratio 2022 26,8x
Yield 2022 1,15%
Capitalization 3 230 B 43 441 M 43 355 M
EV / Sales 2022 3,90x
EV / Sales 2023 3,41x
Nbr of Employees 209 890
Free-Float 26,4%
Chart WIPRO LIMITED
Duration : Period :
Wipro Limited Technical Analysis Chart | 507685 | INE075A01022 | MarketScreener
Technical analysis trends WIPRO LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 35
Last Close Price 591,50 INR
Average target price 544,86 INR
Spread / Average Target -7,89%
EPS Revisions
Managers and Directors
Thierry Delaporte CEO, Executive Director & Managing Director
Jatin Pravinchandra Dalal President & Chief Financial Officer
Rishad Azim Premji Executive Chairman
Subha Tatavarti Chief Technology Officer
Harmeet Chauhan Global Head-Engineering, Research & Development
Sector and Competitors
1st jan.Capi. (M$)
WIPRO LIMITED53.14%43 375
ACCENTURE PLC22.12%202 277
TATA CONSULTANCY SERVICES LTD.11.70%159 080
INTERNATIONAL BUSINESS MACHINES CORPORATION13.42%127 568
INFOSYS LIMITED27.72%91 502
AUTOMATIC DATA PROCESSING, INC.16.96%87 772