Wipro is trading higher by nearly 4% at Rs 572 after the company projected average revenue of $1,729 million from IT services in the current quarter (Q4) of this fiscal (FY 2014).
"We expect revenue from our IT services business to be in the range of $1,712-1,745 million, including revenue from our recent acquisition for the quarter ending March 2014," the company said in the filing.
“Wipro’s dollar revenue target in Q4 translates into a quarter-on-quarter (qoq) growth of around 2-4% which is higher than our estimate of 1.5-3% and shows a sign on stability as well as consistency in terms of revenues”, says analyst at Angel Broking in a note.
We believe that the initial signs of gains from restructuring initiatives have started showing and expect Wipro to do well in the quarters ahead, he adds.
The stock opened at Rs 553 and touched high of Rs 578, its highest level since April 2000 on the BSE. A combined 2.26 million shares changed hands on the counter till noon deals on the BSE and NSE.
"We expect revenue from our IT services business to be in the range of $1,712-1,745 million, including revenue from our recent acquisition for the quarter ending March 2014," the company said in the filing.
“Wipro’s dollar revenue target in Q4 translates into a quarter-on-quarter (qoq) growth of around 2-4% which is higher than our estimate of 1.5-3% and shows a sign on stability as well as consistency in terms of revenues”, says analyst at Angel Broking in a note.
We believe that the initial signs of gains from restructuring initiatives have started showing and expect Wipro to do well in the quarters ahead, he adds.
The stock opened at Rs 553 and touched high of Rs 578, its highest level since April 2000 on the BSE. A combined 2.26 million shares changed hands on the counter till noon deals on the BSE and NSE.
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