Trending stocks: Wipro shares flat in early session

NEW DELHI: Shares of Wipro traded 0.12 per cent up in Tuesday's trade at 10:33AM (IST). Around 78,443 shares changed hands on the counter.

The stock opened at Rs 215.5 and touched an intraday high and low of Rs 217.2 and Rs 211.2, respectively, in the session so far. Shares of the company of Wipro Ltd. quoted a 52-week high of Rs 301.55 and a 52-week low of Rs 159.6.

Total market cap of the Wipro Ltd. stood at Rs 123408.52 crore at the time of writing this report.


The IT major anticipates a decrease in its gross margins in the short-term due to lower demand for IT products and delay in customers' purchasing decisions, resulting from the ongoing COVID-19 pandemic, as per a regulatory filing


Key Financials
The company reported consolidated net sales of Rs 15711.0 crore for the quarter ended 31-Mar-2020, up 1.55 per cent from previous quarter's Rs 15470.5 crore and up 4.7 per cent from the year-ago quarter's Rs 15006.3 crore.

The net profit for latest quarter stood at Rs 2326.1 crore, down 6.34 per cent from the same quarter a year ago.

Shareholding pattern
As of 31-Mar-2020, DIIs held 1.42 per cent stake in the firm, while foreign institutional investors held 8.45 per cent and the promoters 74.04 per cent.


Valuation ratio
According to BSE data, the stock traded at a P/E multiple of 12.69 and a price-to-book ratio of 2.3. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Wipro Ltd. belongs to the IT Consulting & Software - Large Cap industry.