Wipro stock jumps nearly 4% after Q2 ₹24,753 cr revenue
Wipro's stock jumped nearly 4% on Friday after the company reported second-quarter revenue of ₹24,753 crore, just above what analysts predicted.
This marks four straight days of gains and puts Wipro shares at their highest level in over a month, giving investors something to smile about.
Wipro bookings down 45% analysts upbeat
Even though Wipro saw a 45% drop in total bookings, analysts are upbeat thanks to strong revenue and hopes that postponed big deals could close soon.
Jefferies pointed out that revenue and margins exceeded expectations and that two delayed large deals are expected to close this quarter, helping improve the growth outlook.
Still, it's worth noting that despite this recent rally, Wipro shares are down almost 32% for the year, much steeper than the broader IT index.