After Wipro reported its Q1 earnings on Monday, shares of the major IT company fell 8% in early trading. In Q1, Wipro’s consolidated net profit increased by 5.21 percent year over year (YoY) to Rs 3,036.60 crore from Rs 2,886 crore in the same quarter the previous year. Revenue declined 3.79 percent to Rs 21,963.80 crore in the June 2024 quarter, compared with Rs 22,831 crore in the same quarter the previous year. Wipro’s IT service revenue totalled Rs 21,896 crore.

The Wipro stock decreased 7.87% to Rs 513.35 on the BSE during the current session. On the BSE, Wipro’s market cap decreased to Rs 2.69 lakh crore. On the BSE, 5.82 lakh shares of the company changed hands, leading to a turnover of Rs 30.12 crore.

Technically speaking, Wipro’s relative strength index (RSI) is 67.3, indicating that the stock is neither overbought nor oversold.

Wipro shares were down 8.52% at ₹509.75 on the NSE as of 11:23 AM.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

In early trading on Friday, Wipro’s shares increased by more than 5% following the IT giant’s $500 million contract win from a leading U.S.-based communication service provider. The IT heavyweight has increased by about 10% over the past three sessions and has continued to go upward.

Wipro shares continued to rise, opening at ₹470.95, up 2.1% from the previous closing price of ₹461 on the BSE. Maintaining its initial gains, the counter rose 5% to ₹485, and its market capitalization rose to ₹2.5 lakh crore.

As of 10:52 AM, Wipro shares jumped 5.25% to Rs.485.50 on NSE.

On February 19, 2024, Wipro shares reached their 52-week high of ₹546.10, and on October 26, 2023, they fell to their 52-week low of ₹375. The stock has gained 19% over the last year, 14.5% over the previous six months, and 3.3% over the last month.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.