Wipro shares rally on dollar revenue guidance

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Monday, July 29, 2013
Published On: 14:01:39 PM
Wipro shares rally on dollar revenue guidance

Wipro said on Friday it expects revenue from IT services business for the current quarter that ends Sept. 30 to range between $1.62 billion and $1.65 billion, a sequential increase of 2 percent to 3.9 percent.

Most analysts were expecting the company to say sales in the current quarter would rise 1-3 percent. Wipro does not give an annual forecast.

"This is the strongest guidance from the company in recent history," UBS said in a note after the results, reiterating its "buy" rating on Wipro.

Wipro shares were up 5 percent at 0354 GMT, outperforming a 0.2 percent fall in the NSE index.

Courtesy : Indian Express

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