Wipro slides on FII sale
Investors seem to prefer Infosys over Wipro among frontline software majors. Wipro, which has fallen close to 9% this week, declined roughly 5% on Friday.
By TNN |
Investors seem to prefer Infosys over Wipro among frontline software majors. Wipro, which has fallen close to 9% this week, declined roughly 5% on Friday.
A client of an European bank is reported to have sold a chunk of the stock. While Wipro is betting on inorganic expansion to fuel its revenue growth, there is some skepticism about the impact of these proposed buyouts and wage inflation on its operating margins. Analysts said the company is pinning hopes on its BPO business to improve its overall margins.
A client of an European bank is reported to have sold a chunk of the stock. While Wipro is betting on inorganic expansion to fuel its revenue growth, there is some skepticism about the impact of these proposed buyouts and wage inflation on its operating margins. Analysts said the company is pinning hopes on its BPO business to improve its overall margins.
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