Bengaluru, NFAPost: Under the able leadership of Chief Executive Officer and Managing Director, Wipro on Thursday touched Rs 3 trillion in market capitalisation for the first time. Thus Wipro set a new feat in the Indian IT industry history by becoming the third firm to achieve the milestone after Tata Consultancy Services and Infosys.
Wipro’s stock hit a record Rs 550 in early trade, rising 1.27% against the previous close of Rs 543.05 on BSE. Its market capitalisation at that stood at Rs 3.01 trillion. India’s benchmark equity index Sensex rose 0.6% to 52,169 points.
Bengaluru-headquartered Wipro underwent both leadership changes and achieved big deal wins after Thierry Delaporte took over as CEO and MD of the company.
Assuming charge at a time when companies world over were reeling under Covid-19 pandemic, Thierry Delaporte decided to cut the leadership team from 25 executives to four. Thierry Delaporte capitalised the surge in digital transformation amid Covid-19 and even won its largest deal ever from German retailer Metro and has seen deal wins of $7.1 billion
It is interesting to note that India has total of 13 listed firms that have crossed the Rs 3 trillion m-cap. Wipro now ranks 14th. The number of Unicorns and Decacorns is increasing and there is more momentum in the IPO market. These changes are happening India is going ahead with its plan to become a $5 trillion economy.
Wipro’s share has gained 157% in one year and risen 40% since the beginning of this year. In a month, Wipro stock has climbed 11.44%. Reliance Industries is India’s most valued company with a market capitalisation of Rs 14.05 trillion, followed by Tata Consultancy Services Ltd and HDFC Bank with m-cap of Rs 11.58 trillion and Rs 8.33 trillion.