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Wipro surges 3 pct on robust results

Shares of Wipro opened firm on the BSE and rose 3.56 per cent to a high of Rs 728.

Written by Agencies | Mumbai |
April 23, 2010 9:38:12 am

IT major Wipro surged 3.56 per cent on the Bombay Stock Exchange as investors reacted positively to quarterly earnings and a bonus issue announced by the company on Friday.

Shares of Wipro opened firm on the BSE and rose 3.56 per cent to a high of Rs 728.

Wipro today reported 20.77 per cent growth in consolidated net profit at Rs 1,209 crore for the fourth quarter ended March 31,2010,compared to the same period last year.

On the National Stock Exchange,the stock soared 3.51 per cent to a high of Rs 729.50.

The company announced a bonus issue in 2:3 ratio,or 2 equity shares of face value of Rs 2 each for every 3 held. The proposal is subject to shareholders’ approval.

A total of 17.56 lakh Wipro shares changed hands on the two bourses.

Net income from sales rose to Rs 6,982 crore for the quarter ended March 31,2010,from Rs 6,451.4 crore in the same quarter previous fiscal.

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