Wipro Falls As Company Says Profitability May Get Hit
Shares of the Azim Premji-led company fell as much as 2.6 percent, the most in over two weeks to Rs 277.75 after the company said that its profitability may be impacted by 65-75 basis points in the March quarter as one of its telecom clients is undergoing insolvency proceedings, according to a PTI report.
The stock was among the worst performers on Nifty 50 index. It has declined 10.9 percent so far this year, compared to 7.5 percent gain in NSE Nifty IT Index.
