Wipro on Thursday touched Rs 3 trillion in market capitalisation for the first time, becoming the third Indian IT firm to achieve the milestone after Tata Consultancy Services and Infosys.
Wipro’s stock hit Rs 550 in early trade, rising 1.27 per cent against the previous close of Rs 543.05 on BSE. Its market capitalisation at that stood at Rs 3.01 trillion.
India's benchmark equity index Sensex rose 0.6% to 52,169 points.
According to a Mint report, Wipro stock has surged since Thierry Delaporte joined as CEO and MD of the company. Delaporte slashed the top ranks of leadership from 25 people to four.
The company won its largest deal ever from German retailer Metro and has seen deal wins of $7.1 billion
India has total of 13 listed firms that have crossed the Rs 3 trillion m-cap. Wipro now ranks 14th.
Wipro's share has gained 157% in one year and risen 40 per cent since the beginning of this year. In a month, Wipro stock has climbed 11.44 per cent.
Reliance Industries is India's most valued company with a market capitalisation of Rs 14.05 trillion, followed by Tata Consultancy Services Ltd and HDFC Bank with m-cap of Rs 11.58 trillion and Rs 8.33 trillion.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.