The net profit attributable to equity holders of the company rose to Rs 2,930.7 crore during the period under review from Rs 2,465.6 crore during the corresponding period of the last fiscal. Wipro yesterday reported 18.86 per cent year-on-year growth in its consolidated net profit for the second quarter of FY22. Besides, the company reported a revenue of Rs 29,602 crore during the period under review, higher by 20.5 per cent from Rs 24,570 crore earned during the second quarter of FY21, IANS reported. The IT major's net profit during the corresponding period of the previous fiscal (FY2020-21) stood at Rs 4,845 crore. IT major Infosys on Wednesday reported a 11.9 per cent year-on-year growth in its consolidated net profit after minority interest for the second quarter of FY22 at Rs 5,421 crore. On Tuesday, automobile manufacturer had entered into a binding agreement with TPG Rise Climate to raise USD 1 billion for its newly-incorporated subsidiary dealing with the passenger electric vehicle (EV) business, as per IANS report. Meanwhile, on Wednesday, Tata Motors led the Tata group stocks in a blistering rally which catapulted the Sensex and Nifty to new highs.
Share prices of Tata Motors, Infosys, Wipro, and Tata Consultancy Services (TCS) are being tracked closely. With this, investors are curious to know which stocks are performing well. New Delhi: Share market today skyrocketted after BSE Sensex and NSE Nifty 50 touched all-time high levels. Tech Mahindra share price had close price of ₹1089.50 at NSE on Friday.ĭisclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.Wipro yesterday reported 18.86 per cent year-on-year growth in its consolidated net profit for the second quarter of FY22. So, the stock is expected to remain strong from the fundamental perspective and hence in next two years, I am expecting the counter to go up to ₹2,000 mark." Speaking on Tech Mahindra share price target and the reason fueling this particular share in upcoming trade sessions Ravi Singhal said, "This counter is going to become one of the major beneficiaries of the 5G roll-out. On TCS share price target in long-term Ravi Singhal of GCL Securities said, "TCS is a portfolio stock and one should buy the counter for long-term time-horizon as the counter may go up to ₹4800 in next two years." Predicting upside move in the IT counter in short-term Tirthankar Das said that one can buy TCS shares in the range of ₹3250 to rs 3270 for the target of ₹3675 maintaining stop loss at ₹3120. It has recently generated a breakout above six months range facing resistance for multiple number of time." On why one should buy TCS shares today Tirthankar Das said, "In structural uptrend forming higher peak and higher trough in all time frame. However, Ravi Singhal, Vice Chairman at GCL Securities said that the stock is a portfolio stock and one can buy the counter for long-term eyeing ₹900 target in next two years. One can buy the stocks in the range of ₹520 to ₹525 for the target of ₹585 maintaining stop loss at ₹487."
Speaking on the Wipro share price target Tirthankar Das of Ashika Stock Broking said, "Wipro shares are taking support at 23.6 per cent retracement of recent up move and previous breakout area signaling further upward momentum in coming sessions. Also since the sector is cash-rich we would recommend looking to buy them on dips as the outlook for the next 2 years looks good on the back of stronger growth supported by large deal wins."Īsked about the shares to buy today when the stock market opens today experts recommended Wipro, TCS and Tech Mahindra stocks. Positive commentary by the players in terms of margin and CC (constant currency) growth led to PE expansion of all the companies and right now most of them are trading at valuations that are above the 10-year historical averages showcasing higher growth expectations. This has resulted in strong deal momentum and large deal bookings for large IT players. Highlighting the fundamentals supporting IT stocks in upcoming trade sessions Jitesh Ranawat Head Institutional Sales at Marwadi Shares and Finance said, "IT sector has been the bellwether of the Indian stock markets and has performed really well in the past one year on the back of digitisation.
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