Wipro Becomes Third Indian IT Firm to Scale INR. 3 Trillion Market Cap

On Thursday, the market capitalisation of Wipro reached Rs. 3 trillion (US$ 41.09 billion) for the first time, making it the third Indian IT company to attain the milestone following Tata Consultancy Services and Infosys.

In early trade, the stock of Wipro reached Rs. 550 (US$ 7.53), increasing 1.27% compared to Rs. 543.05 (US$ 7.44) on the previous close on BSE. The market capitalisation stood at Rs. 3.01 trillion (US$ 41.22 billion).

India’s benchmark equity index Sensex increase by 0.6% at 52,169 points.

As per a Mint report, as Mr. Thierry Delaporte joined as CEO and MD of Wipro, the stock of the company has swelled since then.

The company secured a major deal from Metro, a German retailer and has witnessed deal wins of US$ 7.1 billion.

India has overall of 13 listed corporations that have cross over the Rs. 3 trillion (US$ 41.09 billion) m-cap. Currently, Wipro ranks 14th.

In one year, Wipro’s share has increased 157% and grown 40% since the start of this year. Wipro stock has soared 11.44% In a month.

Reliance Industries, with a market capitalisation of Rs. 14.05 trillion (US$ 192.42 billion), is India’s most treasured firm, followed by Tata Consultancy Services Ltd. (with m-cap of Rs. 11.58 trillion (US$ 158.59 billion)) and HDFC Bank (with m-cap of Rs. 8.33 trillion (US$ 114.08 billion)).

Source: IBEF