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Thursday, June 24, 2021

Stock market news: Wipro shares gain 3%

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NEW DELHI: Shares of Wipro Ltd. traded 3.03 per cent up in Thursday’s trade at 10:48AM (IST). Around 641,046 shares changed hands on the counter.

The counter opened at Rs 274.6 and touched an intraday high and low of Rs 287.35 and Rs 274.0, respectively, in the session so far. The stock of Wipro Ltd. quoted a 52-week high of Rs 290.65 and a 52-week low of Rs 159.6.

Total market cap of the Wipro Ltd. stood at Rs 162318.64 crore at the time of writing this report.

Key Financials

The company reported consolidated net sales of Rs 14913.1 crore for the quarter ended 30-Jun-2020, down 5.08 per cent from previous quarter’s Rs 15711 crore and down 1.34 per cent from the year-ago quarter’s Rs 14716.1 crore.

The net profit for latest quarter stood at Rs 2390.4 crore, up 0.12 per cent from the same quarter a year ago.

Shareholding pattern

As of 30-Jun-2020, domestic institutional investors held 2.05 per cent stake in the firm, while foreign institutional investors held 7.84 per cent and the promoters 74.02 per cent.

Valuation ratio

According to BSE data, the stock traded at a price-to-earnings multiple of 16.69 and a price-to-book ratio of 2.92. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Wipro Ltd. belongs to the IT Consulting & Software – Large Cap industry.

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