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A total of 18,991 shares changed hands on the counter till 10:40AM (IST)

The Nifty Realty index was trading 2.12 per cent up at 439.1.

Wipro Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 309856.94 Crore) operating in IT Software sector.

The firm reported a 28 per cent decline in net profit to Rs 80 crore for the quarter under review. It had posted a net profit of Rs 112 crore in the corresponding period of the previous year.

The stock traded at a P/E multiple of 83.12, while the price-to-book value ratio stood at 7.32.

A total of 216,152 shares changed hands on the counter till time (IST).

The global crypto market cap jumped about 3 per cent to $1.72 trillion. The total crypto market volume, meanwhile, jumped more than 18 per cent to $82.53 billion.

Similar to tech companies then, valuation of new age tech stocks surged thanks to massive investment in their pre-IPO phase. The Indian startup scene, flushed with money, saw numerous investments in loss making companies notwithstanding their profit making abilities.

“Just let your money do some basic plumbing and do not lock your money for long term because most probably in the next five-six months you will get an opportunity to lock your money either in a 7.5%-8% bond or potentially a 12% CAGR in equity again when the final flush happens. In either of them, you will have an opportunity to dial. Until then, just stay out.”

“We expect the first half of 2022 to be volatile, driven by not just geopolitics but also fears on inflation and US interest rate hikes among others. In the second half of the year, the earnings recovery would start to take some shape and form. We have been advising investors to use the volatility in the first half to gradually and steadily get invested rather than on a lump sum basis.”