Wipro shares jump over 2% as Nifty gains

New Delhi: Shares of Wipro traded 2.36 per cent higher in Tuesday's trade at 12:52 pm. Around 29,59,515 shares changed hands on the counter. The stock opened at Rs 178.55 and touched an intraday high and low of Rs 185.2 and Rs 176.0, respectively, in the session so far.

IT-company Wipro said it has advised employees to work from home, if feasible depending upon their job responsibilities, amid the coronavirus outbreak.

The stock quoted a 52-week high of Rs 301.60 and a 52-week low of Rs 169.25.


Quarterly result
The company reported a net profit after tax of Rs 2,459.60 crore in latest quarter. For the quarter ended 31-12-2019, the company has reported a consolidated sales of Rs 15,470.50 crore, up 2.28 per cent from last quarter sales of Rs 15,125.60 crore and up 2.73 per cent from last year same quarter sales of Rs 15,059.50 crore.

Promoters holding
Promoters held 74.04 per cent stake in the company as of Dec 2019. For the quarter ended Dec 2019, the company reported net sales of Rs 15,470.5 crore and net profit of Rs 2,459.6 crore.

It quoted a price-to-earnings ratio of 10.55 and price to book value of 1.95. A higher P/E ratio shows that investors are willing to pay a higher share price today because of growth expectations in the future. A P/E ratio of 40 is considered really high, a P/E ratio of 7 is considered really low, and a ratio of 14 represents the average. The average P/E for the S&P 500 has historically ranged from 13 to 15.

Wipro, incorporated in the year 1945, is a large cap company (having a market cap of Rs 1,02,668.20 crore) operating in IT software sector.

Wipro key products/revenue segments include software services which contributed Rs 46,852.90 crore to sales value (97.35 per cent of total sales), networking, storage equipment, servers, software licenses which contributed Rs 1,176.90 crore to sales value (2.44 per cent of total sales) and other operating revenue which contributed Rs 94.00 crore to sales value (0.19 per cent of total sales) for the year ending 31-mar-2019.