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Wipro share hits all-time high after firm raises Q1 revenue guidance

Wipro share hit all-time high of Rs 511.95, rising 4.5% against previous close of Rs 489.90 on BSE

twitter-logoBusinessToday.In | April 30, 2021 | Updated 13:51 IST
Wipro share hits all-time high after firm raises Q1 revenue guidance
Wipro share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Wipro share scaled its fresh all-time high today after the IT firm revised its first-quarter growth guidance for fiscal 2022 following the acquisition of London-headquartered management consulting company Capco.

The large cap share hit all-time high of Rs 511.95, rising 4.5% against previous close of Rs 489.90 on BSE. The stock has gained 5% in the last 5 days. Wipro share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Wipro stock has gained 162.62% in one year and risen 29.53% since the beginning of this year. At 12:44 pm, the IT stock was trading 2.06% higher at Rs 500 on BSE. Market cap of the firm rose to Rs 2.73 lakh crore.

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The firm revised its IT services revenue outlook to 8-10 per cent sequential growth in the June 2021 quarter, following the completion of its $1.45 billion buyout of Capco.

While announcing its Q4 earnings earlier this month, Wipro had said it expects to log a sequential growth of 2-4 per cent in its IT services revenues in the June 2021 quarter without including revenue from Capco and Ampion acquisitions.

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In March, Wipro announced the acquisition of London-headquartered Capco in a $1.45 billion (over Rs 10,500 crore) deal - its largest ever till date. In a regulatory filing on Friday, Wipro said the acquisition of Capco was completed on April 29, 2021. Consequent to completion of the acquisition, the revenue guidance for the current quarter (April-June 2021) is revised, it added.

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