Wipro top loser on BSE

The top loser on the BSE currently is Wipro, down almost 10% at Rs.405, with an intra day low at Rs.397.25. The lower circuit filter is at Rs.381.20.

Today is the first day when Wipro gets traded as a pure IT company, following the demerger scheme. This means that from today, the stock price will no longer reflect the contributions from its other subsidiaries which were split.

In Nov’12, the company announced demerger of the non-IT businesses Wipro Consumer Care & Lighting (including furniture business), Wipro Infrastructure Engineering (hydraulics and water businesses) and Medical Diagnostic Product & Services into a privately held company to be named 'Wipro Enterprises Ltd'. The company has fixed April 11 as the record date for the demerger, which is effective from March 31.