Wipro gains on Nifty inclusion

Wipro rose 1.15% to Rs 483 at 09:23 IST on BSE on the stock's inclusion in the 50-unit CNX Nifty with effect from today, 27 September 2013.

Meanwhile, the S&P BSE Sensex was up 84.75 points or 0.43% at 19,978.60

On BSE, 27,239 shares were traded in the counter as against average daily volume of 2.15 lakh shares in the past one quarter.

The stock hit a high of Rs 483.40 and a low of Rs 479.60 so far during the day. The stock had hit a 52-week high of Rs 501 on 3 September 2013. The stock had hit a 52-week low of Rs 315.30 on 31 May 2013.

The stock had underperformed the market over the past one month till 26 September 2013, rising 3.87% compared with the Sensex's 7.2% rise. The scrip had, however, outperformed the market in past one quarter, surging 37.39% as against Sensex's 7.23% rise.

The large-cap company has equity capital of Rs 492.98 crore. Face value per share is Rs 2.

Wipro replaced Reliance Infrastructure in Nifty. Shares of Reliance Infrastructure fell 1.04%.

The decision regarding changes in 50-unit CNX Nifty were announced after market hours on 27 August 2013 by the India Index Services & Products, a joint venture of NSE and Crisil, which manages the various indices at the exchange.

Earlier, Wipro was dropped from the CNX Nifty index from 1 April 2013 due to demerger of non-IT business into a separate company Wipro Enterprises.

Wipro's consolidated net profit declined 6% to Rs 1623.30 crore on 1% growth in income from operations to Rs 9733.20 crore in Q1 June 2013 over Q4 March 2013.

Wipro provides comprehensive IT solutions and services, including systems integration, information systems outsourcing, IT enabled services, package implementation, software application development and maintenance, and research and development services to corporations globally.

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