Wipro Share Price Surges in January 2024

Wipro Share Price 📈💰

Wipro, one of India’s leading IT companies, has recently announced its financial results for the third quarter of the current fiscal year. The company’s share price has been experiencing a phenomenal growth.

📉 Decrease in Net Profit:
In the December 2023 quarter, Wipro’s net profit decreased by 12% to INR 2,694 crore. Additionally, the company witnessed a decline in revenue collection by 4.4% to INR 22,205 crore.

💰 Interim Dividend:
The Wipro board has announced an interim dividend of INR 1 per share along with its financial results for the December 2023 quarter. This dividend will be credited to the shareholders’ accounts on or before February 10, 2024.

📈 Share Price Surge:
On Friday, January 12, 2024, Wipro’s share price closed at INR 466, witnessing a growth of 3.97%📈. On Monday (January 15, 2024), the share price further increased by 6.96% to INR 498.

📉 Revenue and Profit:
In the first nine months of the current fiscal year (December 2023), Wipro’s revenue increased by 0.4% to INR 67,552 crore. However, the company’s net profit declined by almost 1% to INR 8,211 crore.

👥 Employee Reduction:
Wipro has once again reduced its employee count. In the July-December 2023 period, the company witnessed a decrease of 4,473 employees compared to the previous quarter. The total number of Wipro employees now stands at 240,234.

💼 Attrition Rate:
The attrition rate in Wipro for the past 12 months has been 14.2%. This is a slight improvement from the previous quarter’s attrition rate of 15.5%. The company is focusing on enhancing its operational skills.

📊 Market Sentiment:
After the announcement of Wipro’s December 2023 quarter financial results, the company’s shares experienced an upward surge in the last trading day of the week. With a growth of 3.88%, Wipro’s shares were trading at INR 465.45 on Friday.

📈 Highest Share Price:
During the trading session, Wipro’s share price reached a peak of INR 469, its highest level during the session. Currently, the share price is trading near its 52-week high of INR 483.

📅 Share Price Milestone:
On January 1, 2024, Wipro’s share price reached INR 483.40, hitting its 52-week high.

These recent developments in Wipro’s share price and financial performance indicate positive market sentiment and investor interest in the company.

Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.