Mumbai: Wipro Ltd on Thursday touched ₹3 trillion in market capitalisation for the first time, and became the third Indian IT firm to achieve this milestone. The stock hit a record high of ₹550 in early trade and its market capitalisation stood at ₹3.01 trillion. Reliance Industries is India's most valued company with a market capitalisation of ₹14.05 trillion, followed by Tata Consultancy Services Ltd and HDFC Bank with m-cap of ₹11.58 trillion and ₹8.33 trillion, respectively. Wipro stock has surged since Thierry Delaporte joined as CEO and MD of the company. Strong cash conversion, net cash at Rs34500 crore and strong capital allocation provide cushion to our call," Elara added.

Source: Mint June 03, 2021 05:15 UTC