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Wipro hits 52-week high; gains 6% in five days

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Wipro rose 2.74% to Rs 292.75, extending its winning streak to fifth consecutive trading session.

The stock has gained 6% in five trading days from its recent closing low of Rs 276 on 4 September 2020. The stock hit a 52-week high of Rs 294.90 in intraday trade today. The counter is up 83% from its recent 52-week low of Rs 159.60 hit on 19 March 2020.

The IT major on 9 September (Tuesday) announced plans to set up a digital innovation hub in Dseldorf, Germany to serve as its flagship centre in Europe and offer digital transformation expertise to companies in Germany. The proposed digital innovation hub will serve as Wipro's flagship centre in Europe and will offer digital transformation expertise to companies in Germany, enable organisations to cross skill and upskill besides supporting talent development in local communities. Wipro said it will also collaborate with institutions and universities in the North Rhine-Westphalia state to develop tailored programs and career opportunities for young graduates in advanced digital skills and technologies.

Wipro reported a 2.82% rise in consolidated net profit to Rs 2,411.50 crore on a 5.07% decrease in net sales to Rs 14,913.10 crore in Q1 June 2020 over Q4 March 2020.

Wipro is a leading global information technology, consulting and business process services company.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, September 11 2020. 11:55 IST