Wipro Shares Surge 3% on Block Deals

8 Nov 2024 , 11:29 AM

Following news of two block deals that were completed on the counter, Wipro shares increased by almost 3% to Rs 578.8 during Friday’s trading session on the BSE.

According to news reports, 8.5 crore Wipro equity shares were traded in a pre-market block deal, most likely with the promoter acting as the seller.

According to Trendlyne’s shareholding structure, as of the September quarter of FY25, the promoters owned 72.8% of the firm, mutual funds held roughly 4.15%, and overseas institutional investors held 7.27%.

Wipro recorded a 21% increase in net profit to Rs 3,209 crore in Q2 FY25 compared to Rs 2,646 crore in the same period last year. Additionally, the IT giant announced a 1:1 bonus share issue.

The reported quarter’s operating revenue of Rs 22,302 crore was somewhat less than the Rs 22,516 crore recorded in the same quarter of the prior fiscal year.

According to Wipro, the company made $3.56 billion in bookings during the quarter. At $1.49 billion, large deal bookings increased by 28.8% on the quarter and 16.8% for the year in constant currency.

Wipro’s operating margin for IT services for the quarter was 16.8%, up 0.3% from the previous quarter and 0.7% from the previous year. For the quarter, earnings per share came to Rs 6.14.

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