Wipro shares jump 2% as investors spot few bright spots in Q4 results

Shares of IT services major Wipro on Monday rallied up to 2% to the day’s high at Rs 462 on BSE after investors noted a few bright spots in its March quarter results – positive volume growth, sustained momentum in Capco, stability in BFSI and large accounts led growth.

“About 80% of Wipro’s revenue decline over 2QFY23-3QFY24 has come from BFSI alone. A return to growth in BFSI should therefore help stem the erosion,” said JM Financial’s Abhishek Kumar.