Shares of Wipro rallied 5.5% to an intraday high of Rs 486.40 from its previous close of Rs 461. The upsurge in the price of the company’s scrip came in after it won a deal of $500 million with a leading US Communication Service Provider.
Wipro will be providing managed services for some products and industry-specific solutions for five years, said the company in a stock exchange filing.
Wipro’s stock has raised the investors’ wealth by more than 9% in the last five days. It has risen almost 16% in the past six months. The shares of Wipro have risen more than 20% in the past year and 1.5% from the year to date.
The Indian equity indices on Wednesday ended higher after swinging on both sides. The Nifty 50 closed the day’s trading 21.65 points or 0.10% higher at 21,839. At the same time, Sensex ended 90 points higher to finish the session at 72,101.69. The gainers included Eicher Motors, Maruti Suzuki, Nestle India, Power Grid, and SBI. The stocks of Tata Group companies remained key laggards for most of the day. The Indian Volatility Index (India VIX) closed 4.54% lower.
Nifty Bank pulled down 74 points to close the day’s trading at 46,310.90. The Nifty Midcap 100 fell 6.40 points and settled down 0.01% at 45,919.90.
On the sectoral front, auto and energy stocks were trading high throughout the trading session. In the broader indices, midcap stocks closed…
GIFT Nifty traded up 40.5 points or 0.19% at 21,040, indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Tuesday, the NSE Nifty 50 advanced 168.50 points or 0.81% to settle at a record high of 20,855.10, while the BSE Sensex jumped 431.02 points or 0.63% to 69,296.14.
“Markets edged higher for yet another session and gained nearly a percent, in continuation of the prevailing up move. After the initial surge, Nifty remained in a range for most of the session and settled around the day’s high at 20,855.10 levels. Meanwhile, a mixed trend on the sectoral front kept the traders occupied wherein energy, metal and banking were among the top performers. The broader indices too traded in sy…
If you’ve signed into Twitter in the last month or so, you may have noticed that your newsfeed feels a little different.
You’re probably seeing lots more tweets from accounts you don’t follow. Some of those might be tweets that people in your network have “liked.” Others might be those Twitter says are “based on your likes.” What you’re probably seeing far fewer of are tweets from accounts that you, you know, actually chose to follow yourself.
This is Twitter’s new “For You” page, a name lifted from TikTok, which signifies the same thing it does on the short form video app: a feed of posts that some opaque algorithm, somewhere, decides you might enjoy.
It is possible to toggle back onto a newsfeed that p…
One of the largest residential solar installers in the U.S. appears to be on the cusp of failing, the latest sign of the troubled industry’s struggles.
SunPower, which is backed by French oil conglomerate TotalEnergies, said on July 17 that it would no longer be supporting new leases or power purchase agreements, which means it is essentially not acquiring any new customers. The company also said in a letter to dealers who sell its systems that it could not support installation of panels that had been delivered but not yet installed.
“This is a meaningful, incremental negative for the company,” Philip Shen, managing director at Roth MKM, wrote in a note to clients.
The company’s announcement follows months of turmoil. Last December, SunPower said …
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Macy’s Chief Executive Jeff Gennette sees prices of overstocked items falling soon. “Customers are about to get some amazing deals on products that were hot during the pandemic,” says Gennette, who has run the biggest U.S. department-store chain since 2017.
Markdowns on excess inventory of everything from sweatpants to home goods could pinch retailers’ profit margins, however. Consumers changed their spending habi…