Wipro reached Rs 3 trillion in market value for the first time on Thursday, becoming the third Indian IT major to do so after Tata Consultancy Services and Infosys.
Wipro’s shares reached Rs 550 in early trade, up 1.27 percent from the previous close of Rs 543.05 on the BSE. Its market capitalization was Rs 3.01 trillion at the time. The Sensex, India’s benchmark equity index, climbed 0.6 percent to 52,169 points.
Wipro stock has risen since Thierry Delaporte took over as CEO and MD, according to a Mint article. Delaporte reduced the top leadership posts from 25 to four.
Metro, a German retailer, awarded the firm its largest transaction to date, at $7.1 billion. There are a total of 13 listed companies in India with a market capitalization of more than Rs 3 trillion. Wipro is presently at 14th place.
Wipro’s stock has increased by 157 percent in a year and by 40% since the beginning of this year. Wipro’s stock has risen 11.44 percent in the last month.
With a market capitalisation of Rs 14.05 trillion, Reliance Industries is India’s most valuable firm, followed by Tata Consultancy Services Ltd and HDFC Bank with m-caps of Rs 11.58 trillion and Rs 8.33 trillion, respectively.
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Hello, my name is Anuj Boruah. I am quite interested in writing about current events in business, finance, and the economy. I work as a newswriter at Reviewminute.