On Friday, April 23, at 09:37 am, Indian IT and Software Services Company Wipro has become the third-largest IT company in India by market cap after beating HCL Technologies.
According to Bombay Stock Exchange (BSE) data at 09:37 am, Wipro reached number 12 in the overall market capitalisation ranking with an m-cap of Rs 2.65 trillion. HCL Technologies moved to number 13 with an m-cap of Rs 2.62 trillion.
Wipro has regained India’s third-largest IT Company spot after 18 months. As of October 22, 2019, Wipro had a market cap of Rs 1.449 trillion, while HCL Technologies had a market cap of Rs 1.444 trillion.
Top Three Indian IT Companies by Market Cap
- Tata Consultancy Services (TCS): Rs 11.47 Trillion Market Cap
- Infosys: Rs 5.72 Trillion Market Cap
- Wipro: Rs 2.65 Trillion Market Cap
According to BS, Wipro Shares hit a record high of Rs 494.50(6 per cent up) in the past five trading days, after the company reported an excellent IT services revenue growth in the March quarter (Q4FY21).
According to ICICI Securities, Wipro won the healthy deal, up 16.7 per cent quarter on quarter (QoQ), to $1.4 billion, an addition of 7,404 employees, and higher offshore up 180 bps to 54.5 per cent. Large deal wins, higher demand in Europe, acquisition of companies for digital revenues growth are the key highlights of recent Wipro Quarterly results.
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