Wipro declines after large bulk deal

Wipro fell 0.97% to Rs 550.55 at 13:16 IST on BSE after a large bulk deal of 34.01 lakh shares was executed on the scrip at Rs 554.20 per share in opening trade on the BSE today, 27 June 2016.

Meanwhile, the S&P BSE Sensex was up 36.83 points or 0.14% at 26,434.54

Bulk deal boosted volume on the Wipro counter. On BSE, so far 34.69 lakh shares were traded in the counter as against average daily volume of 1.54 lakh shares in the past one quarter. The stock hit a high of Rs 556.90 and a low of Rs 550 so far during the day. The stock had hit a 52-week high of 613 on 1 October 2015. The stock had hit a 52-week low of Rs 508.90 on 29 February 2016. The stock had outperformed the market over the past 30 days till 24 June 2016, rising 1.99% compared with 0.12% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, gaining 0.02% as against Sensex's 4.18% rise.

The large-cap company has equity capital of Rs 494.14 crore. Face value per share is Rs 2.

Wipro's consolidated net profit rose 0.04% to Rs 2235 crore on 6.1% growth in net sales to Rs 13741.70 crore in Q4 March 2016 over Q3 December 2015.

Wipro is one of the leading global information technology, consulting and outsourcing companies

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