Wipro Beats HCL Tech To Become 3rd Biggest IT Company In India; TCS Still #1

Wipro Reclaimed Its Position As The Third Largest Indian IT Services Firm
Wipro Reclaimed Its Position As The Third Largest Indian IT Services Firm

By eliminating HCL Technologies’ 2.62 trillion market capitalization, Wipro reclaimed its position as the third-largest Indian IT services firm with a market capitalization of 2.65 trillion. 

TCS continues to be the most valuable company on the list, with a market capitalization of 11.51 trillion dollars, led by Infosys.

Wipro Reclaimed Its Position As The Third Largest Indian IT Services Firm

On the BSE today, Wipro’s stock rose to Rs 486.70 and so the company’s total market capitalization to Rs 2.65 lakh crore. It surpassed HCL Technologies as the third most valuable Indian IT company in terms of market capitalization.

After 18 months, the company has reclaimed this role. HCL Technologies’ market capitalization was Rs 1.44 lakh crore on October 22, 2019, compared to Rs 1.45 lakh crore for Wipro. 

Wipro’s stock hit a 52-week high of Rs 494.50 on Thursday after the company reported good revenue and margin growth in the March quarter (Q4FY21)

Target Of Achieving Net-Zero Greenhouse Gas (GHG) Emissions

Wipro has also stated its intention to achieve net-zero greenhouse gas (GHG) emissions by 2040, in line with the Paris Agreement’s goal of limiting global warming to 1.5 degrees Celsius.

The country’s third-largest information services provider has set an intermediate target of a 55 per cent reduction in absolute GHG emissions by 2030 compared to its base year of 2016-17. (April-March).

The organisation has also reduced its electricity, water, waste, and biodiversity effects over the last two decades. 

“Climate change is a defining challenge for humanity. Business must be at the forefront to address it. Wipro’s climate change program goes back nearly two decades, and our net-zero goal further reaffirms our commitment. Our approach emphasises the importance of not just reaching that goal, but doing so in a way that is aligned with Wipro’s core values of integrity and business responsibility,” Wipro Chairman Rishad Premji said.

Connect and Heal (CNH), a tech-enabled online-to-offline distribution network specialising in primary care and urgent response services has partnered with the Bengaluru-based company to provide COVID-19 vaccination support services to its employees.

On Friday, Wipro’s stock fell 2.24 per cent to Rs 475.70 on the BSE.

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