Wipro shares moved in a narrow range on Wednesday swinging between gains and losses, ahead of the earnings announcement by the IT major. On the Bombay Stock Exchange (BSE), Wipro shares opened 1.04 per cent higher at Rs 262.75, and moved between Rs 262.90 and Rs 258.25 at the day's strongest and weakest levels respectively. On the National Stock Exchange (NSE), the Wipro stock price moved in a range of Rs 4.7 between Rs 258.10 and Rs 262.80, as against its previous close of Rs 260.
Wipro is due to report its earnings for the quarter ended June 30 today.
In April, the IT major had reported a net profit of Rs 2,483.5 crore for the quarter ended March 31. That marked a 1.07 per cent decline from its net profit of Rs 2,510.4 crore for the corresponding three-month period a year ago.
Its revenue came in at Rs 15,006.3 crore, down 0.35 per cent on a quarter-on-quarter basis.
For the financial year 2018-19 ended March 31, the company reported a net profit of Rs 9,003.7 crore, marking a growth of 12.51 per cent compared to the previous year.
At 1:38 pm, Wipro shares traded 0.17 per cent lower at Rs 259.60 apiece on the BSE, underperforming the benchmark Sensex index which was up 0.18 per cent.
Wipro shares traded with large volumes on Wednesday. About 2.14 lakh Wipro shares changed hands by that time on Wednesday, higher than an average of 1.68 lakh in the past two weeks, data from the BSE showed.
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