Wipro gains as Q2 earnings beats estimates

Wipro, India's third largest software services firm, gained on Friday after it has reported a better-than expected quarterly results for the quarter ended September 30, 2012.

Consolidated earnings grew at 1.92% sequentially and 23.85% on year-on-year basis to Rs 16.1 billion. Analysts had on an average expected profit of Rs 15.2 billion.

Total income, on the other hand, marginally rose 0.50% sequentially and 17.98% on year-on-year basis to Rs 109.43 billion. Analysts had expected revenues of Rs 108.67 billion. Shares ofthe companyare trading at Rs 366.05, up Rs 4.65, or 1.29% at the Bombay Stock Exchange (BSE) on Friday at 12:25 p.m.The scrip has touched an intra-day high of Rs 372.95 and low of Rs 358.65. The total volume of shares traded at the BSE is 419,435.In the earlier session, the shares gained 3.02%, or Rs 10.6, at Rs 361.40. Currently, the stock is trading down 19.1% from its 52-week high of Rs 452.50 and above 12.42% over the 52-week low of Rs 325.60.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 336.15 25.25 7.51 1 Month 380.85 (19.45) (5.11) 3 Months 347.00 14.40 4.15 6 Months 414.90 (53.50) (12.89) 1 Year 370.20 (8.80) (2.38) Note: Based on previous day closing price.