![]() ![]() Wall Street rallied on Friday to end a volatile week, as US Treasury yields eased and economic data helped investors look past the growing likelihood that the Federal Reserve will have to keep its restrictive policy in place until late in the year. Tokyo stocks opened higher on Monday, tracking Wall Street rallies that were helped partly by a slide in Treasury bond yields.The benchmark Nikkei 225 index was up 0.91 percent, or 253.70 points, at 28,181.17 in early trade, while the broader Topix index added 0.66 percent, or 13.35 points, to 2,032.87. rate outlook from the world’s most powerful central banker, and a jobs report that could decide if the next hike needs to be super-sized. INR opens at 81,77/$ vs Friday’s close of 81.97/$Īsian shares edged up on Monday while bond markets held their breath ahead of an update on the U.S. On MorningTrade Key levels to watch - Nifty support seen at 17,569 Stock of the day - Wipro bags contract from worlds largest aviation services company Hot brokerage call this morning Goldman Sachs buys stake in Gokaldas Exports. The attrition rose to 22.7% (voluntary TTM) on a trailing 12 month basis from 20.5% in the second quarter (QoQ).Sensex Ends 344 pts Lower Nifty Slips Below 17K PSU Bank, Metal, IT Worst Hitīesides, shares of Kansai Nerolac Paints gained over 1 per cent after the company acquired 40 percent stake in Nerofix from Polygel. Wipro has added 10,306 employees in Q3, taking the total strength of employees for IT services to 231,671, an increase of 41,363 employees on a net basis year-on-year (YoY). ![]() We are overall optimistic on the stocks with medium to long term horizon," Tapse added. Based on the results we expect stock would react marginally down from today closing of ₹691 and give opportunity to accumulate in the range of ₹660-675. Order bookings continued to be robust by adding 7 new customers in the more than $100 mn revenue league, in the last 12 months. On the revenue guidance and outlook for Q4, Wipro expects revenue from IT segment would sequentially grow of 2% to 4% as expected by street. "As history company continued to pay dividend and approved an interim of 1 rupee per share. Revenues wise Wipro missed street expectations and margins were in-line as expected while net profit was almost flat when compared with ₹2,968 crore reported in the year-ago period," said Prashanth Tapse, Vice President (Research) at Mehta Equities Ltd. "Wipro Ltd quarterly earnings are in-line with street expectation including future CC guidance. Additionally, we have declared an interim dividend of ₹1 per equity share," Jatin Dalal, CFO of the company said. This has resulted in strong operating cash flow conversion, of 101.3% of net income. We also improved our working capital, by reducing our Days Sales Outstanding. “We delivered robust operating margins after absorbing substantial investments on salary increases, owing to continued improvement in operating metrics. With 190000 employees, it serves clients across six continents Consistent payout (70), healthy OCF to EBITDA ratio of 89 Q2FY22 Results: Wipro reported robust Q2FY22 results. Wipro has an operating cash flow of $404.2 million, which is about 101.3% of net income. About the stock: Wipro is an IT, consulting & BPO catering to BFSI, health, consumer, energy & utility, technology and communication. In constant currency, IT services segment revenue increased by 3% when compared with previous quarter and 28.5% year-on-year Segment wise, revenue from IT services business came in at $2,639.7 million, an increase of 2.3% quarter-on-quarter and 27.5% year-on-year. Wipro further said it continued the momentum in winning large deals with its customers in the reporting quarter. We are also excited to have completed the acquisitions of Edgile and LeanSwift Solutions in the quarter, both of which will add to our capabilities significantly. ![]() "Our strategy and improved execution continue to serve us well, and we are confident of building on this momentum. ![]() In the last one year, the scrip has gained by 49.62% as against a rise of 24.82% in the Nifty IT index. On Wednesday, Wipro scrip traded lower by 0.45% to settle at ₹691 apiece on NSE. On the outlook for Q4, Wipro said it expects revenue from IT services business to be in the range of $2,692 million to $2,745 million, which translates to a sequential growth of 2% to 4%. Order bookings have been strong too, and we have added seven new customers in the more than $100 mn revenue league, in the last 12 months." Its revenue from operations, meanwhile, rose 29.6% to ₹20,313 crore as compared to ₹15,670 crore in the last year period.Ĭommenting on the results, Thierry Delaporte, Wipro CEO and MD said, “Wipro has delivered a fifth consecutive quarter of strong performance, both on revenues, and margins. ![]()
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