Wipro share price gains 2% ahead of Q4 earnings

Stocks

The share touched a 52-week high of Rs 467.20 and a 52-week low of Rs 174 on 13 January, 2021 and 21 April, 2020, respectively.

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Wipro share price gained more than 2 percent intraday on April 15, the day on which the company is going to announce its fourth quarter earnings.

The company is likely to report healthy growth in topline driven by volumes and ramp-up in deals, however, margin performance may get dented by wage hikes for the quarter ended March 2021.

The revenue growth in the constant currency could be around 3 percent and the same in dollar terms may be around 3.5 percent for the quarter, according to brokerages.

“Wipro is expected to report 3.0 percent QoQ growth (in CC terms) in revenues mainly led by healthy volumes in small & medium deals and ramp-up of deals. Further, with cross-currency tailwinds, we expect dollar revenues to increase 3.9 percent QoQ,” said ICICI Direct which sees a 3.5 percent QoQ decline in profit for the quarter.

Also Read – Wipro Q4 preview | Healthy volumes, ramp-up in deals to boost revenue, but margin may contract

At 09:51 hrs, Wipro was quoting at Rs 427.05, up Rs 8.40, or 2.01 percent on the BSE.

wipro

The share touched a 52-week high of Rs 467.20 and a 52-week low of Rs 174 on 13 January 2021 and 21 April 2020, respectively.

Currently, it is trading 8.59 percent below its 52-week high and 145.43 percent above its 52-week low.