Wipro spurts up

Wipro is doing very well in this otherwise another red streaked morning. The stock opened at Rs.457.20, its intra day low point and it is currently at Rs.466.10, its intra day high. Volumes are pretty good at over 60,000 shares.

The stock is up on two counts. Firstly, the depreciation of the rupee has made all IT stocks very attractive and that reason remains the major overhang. Secondly, Wipro will be replacing Reliance Infrastructure in the Nifty from 27^th September. Wipro had been earlier excluded due to its demerger of its non-IT business. This also marks for the very first time, no ADAG stock in Nifty from 27^th Sept.