Wipro settles 8% down

  • HT Correspondent, Hindustan Times, Mumbai
  • |
  • Updated: Apr 22, 2013 09:11 IST

Shares of Wipro, India's third-largest software services provider, fell 8% to Rs 339 on Monday on the back of lower-than-expected results and weak guidance for the first quarter of 2013-14 .

Wipro had on Friday reported 16.7% increase in net profit to Rs 1,728.7 crore for the fourth quarter ended March 31, 2013.

After making a weak opening, shares of the company further lost 11% to Rs 328 intra-day on the Bombay Stock Exchange (BSE) but managed to close the day at Rs 339.

Wipro joined Infosys in delivering tepid revenue outlook, citing a delay in the closure of deals.

 

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