Wipro gets thumbs up

Unlike TCS and Infosys, which saw profit taking after the earnings announcement, Wipro is very much among the top five gainers on the BSE currently. The stock opened 2.5% higher at Rs.442 an went on to hit an intraday high at Rs.468.95, up over 8.5% and not too far from its 52-week high of Rs.474.10.

The company reported better than expected earnings, with a strong deal pipeline and robust guidance.

The company’s consolidated net profit was almost flat, rising 0.5% (QoQ) to Rs.2972 crore on a 3.5% rise in revenue from operations at Rs.16,245 crore.

Its deal wins were up 17% to $1.4 billion and it added one new client in the $100 million plus category and three more clients in the $75 million plus segment.

On the guidance front, the company said that its consolidated sales may grow 2-4% in Q1FY22 in the range of $2,195 - 2,238 million. The guidance does not include announced acquisitions of Capco and Ampion.