Wipro share price hits 52-week high, market cap crosses Rs 3 lakh crore

Market capitalisation of IT service company Wipro touched Rs 3 lakh crore (Rs 3 trillion) on June 3 after the share price hit a record high of Rs 550 in the early trade.

Infosys and Tata Consultancy ServiceInfosys and Tata Consultancy Services are the only other two IT companies to have a higher market capitalisation. The Wipro share price has risen more than 40 percent in the last year.

On June 3, the Nifty IT index was trading flat at 26,950.60. The Sensex was up 241.61 points or 0.47 percent at 52091.09, and the Nifty 80.20 points, or 0.51 percent at 15,656.40 at around 1150 hours.

Recently, Wipro sold its entire stake in hybrid IT services provider Ensono Holdings for $76.24 million "As part of the recently announced acquisition of Ensono by KKR, Wipro has sold its entire stake in Ensono Holdings, LLC for a consideration of US$ 76.24 million. Consequent to the sale, Wipro does not hold any stake in Ensono Holdings, LLC," Wipro said in a BSE filing.

The company reported a 0.1 percent sequential growth in consolidated profit at Rs 2,972.3 crore for the quarter ended March 2020. It clocked revenue at Rs 16,334 crore for the quarter, growing 3.9 percent QoQ.

The revenue growth in constant currency came in at 3 percent for the March quarter and the topline growth in dollar terms was reported at 3.9 percent.

At 1146 house, Wipro was quoting at Rs 542.60, down Rs 0.45, or 0.08 percent on the BSE.