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Shares of Wipro rose as much as 3.68 per cent to its highest since April 10. It was among the top percentage gainers on the NSE.
At about 10.20 am, the stock was up Rs 9.95 or 2.01 per cent at Rs 504.50 on the BSE.
The country's third-biggest software services exporter on Tuesday reported a 0.4 per cent rise in March-quarter consolidated net profit, ahead of analysts' estimate
It said it would issue one free share for every share held and adding it could consider a share buyback in July
The management commentary was quite constructive and indicated a change in growth trajectory from Q2 onwards, Morgan Stanley wrote in a note.
Over 3.8 million shares changed hands, 2.6 times the 30-days moving average on Wednesday.
Up to Tuesday's close, the stock had risen 4.18 per cent this year, compared with a 2.96 per cent decline in the Nifty IT index.
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