Wipro shares surge over 5 per cent; adds Rs 7,210.82 crore in m-cap

Mumbai: Wipro scrip ended over 5 per cent higher on Monsay, adding Rs 7,210.82 crore to its market value, after the IT services major reported 8 per cent growth in consolidated net profit for the December quarter.

After surging 7.78 per cent to Rs 598.45 on the BSE in intra-day trade, shares of Wipro finally ended at Rs 584.45, up 5.26 per cent on the BSE. On the NSE, it settled with a gain of 5.30 per cent at Rs 584.45. The stock was the top gainer among the blue-chips on both Sensex and Nifty. Led by the sharp rally in the stock the company's market value surged Rs 7,210.82 crore to Rs 1,44,284.82 crore. In terms of volume, 4.84 lakh shares of the company changed hands on the BSE, while over 60 lakh shares were traded on the NSE during the day.

"Wipro Ltd Q3 FY15 performance was largely above our estimates on all front," Daljeet S Kohli, Head of Research India Nivesh Securities Pvt Ltd said. Wipro on Friday reported 8 per cent rise in consolidated net profit to Rs 2,192.8 crore in the October-December quarter, helped by growth in healthcare and infrastructure services business.

The country's third largest software services company's net profit was at Rs 2,014.7 crore in the year-ago period. Consolidated revenue grew at 7 per cent to Rs 12,085.1 crore in the third quarter of the current fiscal from Rs 11,327.4 crore in the same quarter of 2013-14. The figures are on IFRS basis. IT services revenue rose by 7 per cent to USD 1.79 billion in the third quarter.