Wipro is trading higher by almost 4% at Rs 436 ahead of its earnings for the third quarter ended December 2012 (Q3) which will be announced tomorrow (January 18, 2013).
India’s third-largest outsourcing company, on Tuesday said that its board will also consider the proposal for declaration of interim dividend for the financial year 2012-13.
So far all three IT-majors - Tata Consultancy Services (TCS), Infosys and HCL Technologies have surprised the street by reporting a better-than-expected December quarter earnings.
Analysts on an average expecting net profit at Rs 1,975 crore and revenue of Rs 10,849 crore for the quarter.
Meanwhile, the Reuters report suggests that UBS raised its ratings on Wipro to "buy" from "sell", saying revenue momentum will start picking up from the October-December quarter, while a cyclical recovery could help speed up a recovery in the software services exporting sector.
The stock opened at Rs 424 and touched high of Rs 437 on the NSE. As many as a combined 1.65 million shares have already changed hands on the counter in early noon deals against an average sub 2 million shares that were traded daily in past two weeks.
