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Wipro overtakes HCL Tech to become third most-valued Indian IT firm

The company has regained this spot after a gap of 18 months. Earlier on October 22, 2019, HCL Technologies' market capitalisation was at Rs 1.44 lakh crore as against Wipro's Rs 1.45 lakh crore

twitter-logoBusinessToday.In | April 23, 2021 | Updated 21:52 IST
Wipro overtakes HCL Tech to become third most-valued Indian IT firm
Shares of Wipro hit a 52-week high of Rs 494.50 on Thursday after the company posted a strong growth in IT services revenue and margins in March quarter (Q4FY21)

Share price of IT major Wipro hit Rs 486.70 on BSE today, taking the company's total market capitalisation to Rs 2.65 lakh crore. On the way, the company surpassed HCL Technologies in terms of market capitalisation to become the third most-valued Indian IT firm.

The company has regained this spot after a gap of 18 months. Earlier on October 22, 2019, HCL Technologies' market capitalisation was at Rs 1.44 lakh crore as against Wipro's Rs 1.45 lakh crore. Shares of Wipro hit a 52-week high of Rs 494.50 on Thursday after the company posted a strong growth in IT services revenue and margins in March quarter (Q4FY21).

Wipro has also announced its commitment to achieving net-zero greenhouse gas (GHG) emissions by 2040, in line with the objective of the Paris Agreement to cap temperature rise to 1.5 degree Celsius. The country's third-largest largest software services company has set an intermediate target of 55 per cent reduction in GHG emissions by 2030 in absolute emission levels compared to its base year of 2016-17 (April-March). The company further said that over the last two decades, it has steadily reduced its energy, water, waste footprint, and bio-diversity impact and remains steadfast in its commitment to a more sustainable, just and equitable society.

"Climate change is a defining challenge for humanity. Business must be at the forefront to address it. Wipro's climate change program goes back nearly two decades, and our net-zero goal further reaffirms our commitment. Our approach emphasises the importance of not just reaching that goal, but doing so in a way that is aligned with Wipro's core values of integrity and business responsibility," Wipro Chairman Rishad Premji said.

The Bengaluru-headquartered company has also partnered with Connect and Heal (CNH), a tech enabled online-to-offline delivery platform specializing in primary care and urgent response services, to bring COVID-19 vaccination support services to its employees.

Shares of Wipro closed 2.24 per cent lower at Rs 475.70 on the BSE on Friday.

Also Read: Wipro plans integration with Capco -- its biggest buy!

Also read: Wipro Q4 profit jumps 27.7% to Rs 2,972.3 cr; revenue up 3.4%

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