Wipro lost 0.83% at Rs 556.10 at 9:15 IST on BSE, with the stock extending recent slide triggered by the company reporting disappointing Q2 earnings.
Meanwhile, the S&P BSE Sensex was up 58.10 points or 0.22% at 26,909.15.
On BSE, so far 9,431 shares were traded in the counter as against average daily volume of 1.70 lakh shares in the past two weeks.
The stock hit a high of Rs 556.85 and a low of Rs 548 so far during the day.
Shares of Wipro have declined 4.4% in two trading sessions from a recent high of Rs 581.70 on 22 October 2014, after the company after market hours on 22 October 2014 reported Q2 September 2014 earnings. The stock had fallen 3.6% to settle at Rs 560.75 on 23 October 2014, when the stock market was open for a special Muhurat trading.
Wipro's consolidated net profit attributable to equity holders of the company rose 8% to Rs 2084.80 crore on 8% growth in total revenue to Rs 11683.80 crore in Q2 September 2014 over Q2 September 2013. The results are as per International Financial Reporting Standards (IFRS).
IT services revenue was $1771.50 million, a sequential increase of 1.8% and year on year increase of 8.6%. Non-GAAP constant currency IT services revenue in dollar terms grew 3% to $1793.10 million in Q2 September 2014 over Q1 June 2014. It was within the company's guidance range of $1770 million to $1810 million. IT services margins was 22% Q2 September 2014. IT services margins includes profit on sale of a strategic investment during the quarter.
Wipro expects revenue from its IT services business to be in the range of $1808 million to $1842 million in Q3 December 2014.
Wipro is a leading Information Technology, Consulting and Business Process Services company that delivers solutions to enable its clients do business better.
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