Wipro shares crack 3% on reports of hacking; Q4 earnings in focus

NEW DELHI: Wipro shares cracked 3 per cent in Tuesday's session after reports of potential breach of some of its employee accounts.

As per a PTI report, the company said a few of its employee accounts were affected in an "advanced phishing campaign", and the company has taken remedial steps to contain and mitigate any potential impact.

Following the report, shares of the company fell over 3 per cent, erasing the gains of the early session. Wipro was trading around 1 per cent higher in the morning session.


Around 2:10 pm, shares of the company traded 2.72 per cent lower at Rs 280.30 apiece.

The IT major is to report its fourth quarter earnings today.

Wipro is likely to report a 1-1.9 per cent quarter-on-quarter (QoQ) growth in constant currency (CC) revenues on the back of digital tailwinds, analysts estimate.

Kotak Institutional Equities sees the constant currency revenue growth rate of 1.5 per cent, whereas Edelweiss expects the software major to post 1 per cent QoQ revenue growth in CC terms.

Brokerages are widely expecting the IT major to guide to 0.5-2.5 per cent revenue growth for the June 2019 quarter.

Other than the numbers, commentary on financial services vertical, the sustainability of margin, capital allocation, the quantum of a likely buyback and performance of the acquired entities will be keenly watched.

The shares of the company closed 2.45 per cent lower Rs 281.10 at BSE.