Wipro gains after completing acquisition of Appirio

Wipro rose 2.23% to Rs 461 at 10:45 IST on BSE after the company said it completed the acquisition of Appirio on 23 November 2016.

The announcement was made after market hours yesterday, 24 November 2016.

Meanwhile, the BSE Sensex was up 163.11 points, or 0.63%, to 26,023.28.

On BSE, so far 37,000 shares were traded in the counter, compared with average daily volume of 1.81 lakh shares in the past one quarter. The stock hit a high of Rs 461.90 and a low of Rs 451.45 so far during the day. The stock hit a 52-week high of Rs 606.75 on 20 April 2016. The stock hit a 52-week low of Rs 410 on 9 November 2016. The stock had outperformed the market over the past 30 days till 24 November 2016, falling 4.54% compared with the 7.10% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 7.96% as against Sensex's 6.92% decline.

The large-cap IT company has equity capital of Rs 486.17 crore. Face value per share is Rs 2.

Wipro announced that it has completed the acquisition of Appirio on 23 November 2016. As mentioned in the media presentation submitted as part of results for the quarter ended 30 September 2016, impact of the Appirio acquisition is expected to reflect in the financials of Wipro for the quarter ending 31 December 2016, the company said.

Wipro's consolidated net profit rose 0.9% to Rs 2070.40 crore on 1.45% rise in net sales to Rs 13896.80 crore in Q2 September 2016 over Q1 June 2016.

Wipro is a leading information technology, consulting and business process services company that delivers solutions to enable its clients do business better.

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