Tata Elxsi, Wipro hit 52-wk highs on expectation of good earnings in Q2FY21

In the past three months, Wipro outperformed the market by gaining 38 per cent against 16 per cent rise in the S&P BSE Sensex

Shares of Wipro and Tata Elxsi hit their respective 52-week highs on the BSE on Friday on the expectation of strong earnings growth in the current quarter (July-September) of financial year 2020-21 (FY21).

Wipro rallied 4 per cent to Rs 295.50, surpassing its previous high of Rs 290.65, hit on July 31, 2020. In the past three months, the stock has outperformed the market by gaining 38 per cent against 16 per cent rise in the S&P BSE Sensex.

In the April-June quarter (Q1FY21), the company’s IT services’ operating margin came at 19 per cent surprised positively though,