Wipro soars 13% to new 52-wk high on bets consulting biz drag bottoming out

Shares of Wipro hit soared 13 per cent to a fresh 52-week high of Rs 526.45 on the BSE in Monday’s intra-day trade as the company beat profit estimates in its third quarter results. (Q3FY24)

At 09:32 am; Wipro was quoting 11 per cent higher at Rs 518.95 as compared to a 0.91 per cent rise in the S&P BSE Sensex.

The average trading volumes on the counter jumped more than two-fold. A combined 18.5 million equity shares changed hands in less than 20 minutes since trading began on NSE and BSE.

Motilal Oswal Financial Services (MOFSL) sees Wipro’s Q3 performance as positive as the company struggled to deliver on expectation over the last few quarters due to macro headwinds.