Media reports indicate that 8.5 crore equity shares of Wipro were exchanged in a pre-market block deal, with the promoter likely being the seller.
As per the shareholding pattern available on Trendlyne, foreign institutional investors held a 7.27% stake in the company as of the September quarter of FY25, while the promoters hold 72.8%, and mutual funds have about a 4.15% stake.
In Q2 FY25, Wipro reported a 21% jump in net profit to Rs 3,209 crore versus Rs 2,646 crore logged in the year-ago period. The IT major also announced a bonus share issue in proportion to 1:1.
Revenue from operations in the reported quarter stood at Rs 22,302 crore, marginally lower than Rs 22,516 crore posted in the corresponding quarter of the previous financial year.
Wipro reported that its total bookings during the quarter were at $3.56 billion. Large deal bookings were at $1.49 billion, an increase of 28.8% on-quarter and 16.8 on-year in constant currency.Wipro’s IT services operating margin for the quarter was at 16.8%, an increase of 0.3% quarter-on-quarter and 0.7% year-on-year. Earnings per share for the quarter were at Rs 6.14 ($0.071), an increase of 6.8% QoQ and 21.3% YoY.According to Trendlyne data, the target price for the stock is Rs 529. The consensus recommendation from 41 analysts for the stock is a ‘Sell’.
In technical terms, the relative strength index (RSI) of the stock is currently at 59.7. An RSI below 30 is considered oversold, and above 70 is overbought, Trendlyne data showed. Additionally, the MACD is at 5.1, which is above its center and signal Line, this is a bullish indicator.
Moreover, Wipro’s stock price is higher than the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages SMAs.
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