April 9, 2013 / 4:02 AM / 4 years ago

India's Wipro shares slump on 1st trading session after split

MUMBAI, April 9 (Reuters) - Shares in India’s Wipro Ltd , India’s No.3 software services provider, fell as much as 11.3 percent on Tuesday, which marked the first trading session as a standalone IT stock after splitting its other businesses into a separate unit.

Wipro’s split-off announced in November 2012 legally took effect on March 31, but has not been reflected in shares until Tuesday, meaning the company’s shares no longer take into account the contributions from these non-IT businesses.

Wipro’s shares were down 8.5 percent as of 0357 GMT. (Reporting by Abhishek Vishnoi; Editing by Rafael Nam)

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