April 26, 2017 / 4:36 AM / 3 months ago

BUZZ-India's Wipro rises on Q4 profit beat

1 Min Read

** Shares of Wipro Ltd rise as much as 3.68 pct to highest since April 10; among top pct gainers on NSE index

** India's third-biggest software services exporter on Tuesday reported a 0.4 pct rise in March-qtr consolidated net profit, ahead of analysts' estimate

** Says it would issue one free share for every share held, adding it could consider a share buyback in July

** Management commentary is quite constructive and indicates a change in growth trajectory from Q2 onwards, Morgan Stanley writes in a note

** More than 3.8 mln shares change hands, 2.6 time the 30-day moving avg

** Up to Tuesday's close, stock had risen 4.18 pct this year, compared with a 2.96 pct decline in Nifty IT index

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