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| Wipro Results |
Shares of Wipro fell nearly 4% on the Bombay Stock Exchange (BSE) Friday, after the software exporter reported lackluster third-quarter earnings and announced management changes. The company reported a 10 percent year-on-year growth in profit for the third quarter, lagging behind the earnings of its rivals Infosys and Wipro. Also, the company gave a muted guidance for Q4, with revenue expected to improve 3 percent sequentially.
Besides, Wipro said in a statement that it appointed T.K. Kurien as the new chief executive of its IT business, effective February 1. Kurien replaces Girish Paranjpe and Suresh Vaswani who have resigned after serving as joint CEOs.
Wipro shares are currently trading at Rs.461.10 on the BSE, down 3.54% amid a volume of 3.86 lakh shares versus a two-week daily average volume of 1.63 lakh shares.
