Stocks

Wipro surges after strong Dec-quarter earnings

Reuters MUMBAI | Updated on January 24, 2018

Shares of Wipro Ltd gained 6.5 per cent on Monday after the country's third-largest IT services exporter on Friday reported better-than-expected growth in December-quarter net profit.

There were widespread expectations that Wipro would post weak earnings after rival Tata Consultancy Services' December-quarter revenue from its energy vertical fell 2.3 per cent in dollar terms.

Attractive valuations also helped Wipro shares, investors said. Wipro trades at 14.5 times of one-year forward earnings compared with 17.7 times of rivals, as per Thomson Reuters Eikon data.

Published on January 19, 2015

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

null
This article is closed for comments.
Please Email the Editor

You May Also Like