Wipro leave behind HCL Tech to become 3rd most-valued IT firm
By Sanjay Maurya
- TI’s major Wipro regained its position as India’s third-largest IT company on 23 April.
- Surpassing the market capitalization (market cap) of HCL Technologies.
- Wipro has also announced that it will have zero net greenhouse gas (GHG) emissions by 2040.
Wipro leave behind HCL to become 3rd most-valued IT firm
TI’s major Wipro regained its position as India’s third-largest IT company on 23 April, surpassing the market capitalization (market cap) of HCL Technologies. Overall M-cap rating with an M-cap of INR 2.65 billion.
HCL Technologies meanwhile fell to 13th place with an M-cap of 2.62 trillion INR, according to BSE data. Wipro recaptured this place after 18 months. Previously, the company had a market capitalization of INR 1,449 trillion, while HCL Technologies had a market capitalization of INR 1,444 trillion.
Wipro has also announced that it will have zero net greenhouse gas (GHG) emissions by 2040, in line with the Paris Agreement’s goal of limiting temperature rise to 1.5 degrees Celsius.
The intermediate goal of reducing greenhouse gas emissions by 55 percent by 2030 in absolute emission values compared to the base year 2016-17 (April-March).
The company also announced that it has continuously reduced its energy, water, and water emissions over the past two decades. the waste footprint and impact of biodiversity and remains firm in its commitment to a more sustainable, fairer, and more equitable society.
“The transformation of Wipros is driven by a new CEO strategy and a strong demand environment. At the same time, better execution should drive profits going forward,” said analysts at Edelweiss Securities. optimistic about the demand environment and hold ‘BUY’ on the stock with an unchanged target price of INR 550.
“Climate change is a definite challenge for humankind. Companies must be at the forefront to address it. Wipros’ environment insurance plan can be followed back almost twenty years, and our zero net objectives further reaffirm our responsibility. Our approach emphasizes the importance of not just achieving something. ” this goal, but in a way that is aligned with Wipros’ core values of integrity and business responsibility, “said Wipro President Rishad Premji.
ICICI Securities, on the other hand, said the highlights of the quarter were the good deals it closed, up 16.7 percent from the previous quarter (quarterly) to $ 1.4 billion, a healthy net increase of 7,404 employees and an increase in Abroad corresponds to up to 180 bps. 54.5 percent. ” As a solid guide for the first quarter of fiscal year 22E, IT administration income will be between $2,195-2,238 million, an increment of 2.0-4.0% over the past quarter. The announced acquisitions of Capco and Ampion are not included in the forecast. “He said.
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