Wipro ends up 2.18 pc; becomes the biggest bluechip gainer | business | Hindustan Times
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Wipro ends up 2.18 pc; becomes the biggest bluechip gainer

business Updated: Oct 27, 2009 21:41 IST
Wipro Ltd

Wipro Ltd on Tuesday became the biggest gainer among the frontline stocks and ended up 2.18 per cent on the Bombay Stock Exchange after the IT firm reported 19 per cent jump in its net profit for the second quarter of this fiscal.

Shares of Wipro bucked the trend and ended in the green rising by Rs 12.90 over the previous close of Rs 604.15. During the trade, the scrip had soared 4.55 per cent to a high of Rs 618 on the BSE.

On the National Stock Exchange, the scrip settled at Rs 604.65, up 2.24 per cent after witnessing a high of Rs 618 in morning trade.

On the volume front, nearly 36 lakh shares changed hands on both the bourses within the first few minutes of trade.

Wipro today reported 18.76 per cent increase in its consolidated net profit at Rs 1,161.7 crore and nearly a six per cent increase in its total income at Rs 7,057.4 crore for the second quarter ended September 30, 2009.

Marketmen said consistent better-than-expected Q2 results posted by IT companies would boost investor sentiment and propel buying in the counter.

Further, with Wipro management expressing confidence of stability in volumes and pricing in addition to an improving demand environment, there has been buying in the stock, they added.