Reuters: Technology News: India's Wipro shares rally on dollar revenue guidance

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India's Wipro shares rally on dollar revenue guidance Jul 29th 2013, 03:58 Tweet Share this Email Print Analysis & Opinion India Markets Weekahead: Prudent to hold cash Tracking Sensex: top gainers, losers this week Related Topics Tech » Hot Stocks » Asian Markets » The Wipro campus is seen in Bangalore June 23, 2009. Credit: Reuters/Punit Paranjpe MUMBAI | Sun Jul 28, 2013 11:58pm EDT MUMBAI (Reuters) - India's Wipro Ltd (WIPR.NS) shares surged as much as 5.9 percent on Monday, after the software services exporter issued dollar revenue guidance that was above estimates. Wipro said on Friday it expects revenue from IT services business for the current quarter that ends September 30 to range between $1.62 billion and $1.65 billion, a sequential increase of 2 percent to 3.9 percent. Most analysts were expecting the company to say sales in the current quarter would rise 1-3 percent. Wipro does not give an annual forecast. "This is the strongest guidance from the company in recent history," UBS said in a note after the results, reiterating its "buy" rating on Wipro. Wipro shares were up 5 percent at 0354 GMT (11:54 a.m ET), outperforming a 0.2 percent fall in the NSE index .NSEI. (Reporting by Himank Sharma) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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