IT Stocks in News: Wipro, Coforge shares in focus; here's why
IT Stocks in News: Two major IT stocks are in focus on Wednesday's stock market session following notable corporate developments that have influenced investor sentiment in the near to medium term.
IT Stocks in News: Two major IT stocks are in focus on Wednesday's stock market session following notable corporate developments that have influenced investor sentiment in the near to medium term.
Why Wipro stock surges over 1%
Wipro has announced that it has signed a multiyear strategic deal with Entrust, a global leader in identity-centric security solutions. Under the agreement, the IT company will provide strategic resources, scale, and agility to support Entrust’s growth initiatives.
What to do with Wipro stock?
After this development, SBI Securities is positive on the Wipro stock for medium to long term.
Wipro share price
On Wednesday, the Wipro stock surged as much as 1.45 per cent, hitting an intraday high of Rs 249.81 (NSE), from previous close of Rs 246.22.
Coforge stock split
Coforge shares are also in focus as the company declared a stock split in the ratio of 1:5, reducing the face value of its shares from Rs 10 to Rs 2.
Coforge share price
Shares of Coforge have increased up to 1.5 per cent on Wednesday after the stock split action.
What analysts make of Coforge stock?
According to SBI Securities, stock splits do not impact the company’s fundamentals but often lead to increased trading activity and investor interest in the short term.
(Disclaimer: The views/suggestions/recommendations expressed here in this article are solely by investment experts. Zee Business suggests its readers consult their investment advisers before making any financial decision.)