The Bombay Stock Exchange (BSE) has sought a clarification from information technology services exporter Wipro on media reports that the company has acquired US-based firm Appirio for $400 million. The company is yet to respond to the exchange.
Shares of Wipro gained sharply on Wednesday and remained firm on Thursday as well on the BSE. The stock has risen from its Tuesday closing of Rs 481.35 to a high of Rs 500.70 on Thursday afternoon. In the past one year, Wipro shares have appreciated 5.17 percent from Rs 476 on October 14.
The Azim Premji-controlled company will be declaring its September quarter results on Friday (October 21).
Of particular interest will be the company's revenue numbers and whether they exceed the $1,931 million to $1,950 million guidance for the September quarter given by the company when it declared its June quarter results in July. The revenues came in at $1,930.8 million for the June quarter.
Wipro's bigger rivals — TCS and Infosys — have already declared their Q2 results last week. Infosys lowered its full-year revenue guidance for the second time while declaring its September quarter results, while TCS termed it an "unusual quarter."