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Wipro hits 52-wk high on Q1 results, share buyback plan

The stock hits 52-week high of Rs 291, up 8% on BSE in early morning trade on back of heavy volumes

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New Wipro logo. Photo: Twitter (@wipro)

SI Reporter Mumbai
Wipro hits 52-week high of Rs 291, up 8% on BSE in early morning trade, after the company reported a good set of numbers.
 
The IT services sales came in at $ 1,972 million against analyst estimate of  $1,950 million, a growth of 0.9% quarter on quarter (qoq), while constant currency (CC) qoq growth of 0.3%.

For Q2FY2018, the company expects revenues from its IT Services business to be in the range of $ 1,962 million to $ 2,001 million.

“On operating front, the EBIT (earnings before interest and tax) margins came in at 16.2% V/s 14.3% in