Wipro eyes best day in 4 yrs on echoing hopes of IT peers’ demand revival

Wipro’s shares surged about 8 per cent on Monday, set for their best day in nearly four years, after India’s No 4 IT services company joined its peers in signaling a revival in demand.

The company beat third-quarter profit estimates on Friday and forecast revenue in the current quarter could increase sequentially by up to 1 per cent, compared with no growth last quarter, with CEO Srinivas Pallia saying, “We see discretionary spending slowly coming back” after macroeconomic challenges in 2024.