Wipro Ltd. (NYSE:WIT) is one of them 10 Stocks Investors Watch
Wipro saw its share prices rise 10.39 percent on Tuesday to close at $2.55 apiece, as investor sentiment was fueled by its sister company’s planned foray into the semiconductor business, and deal-hunting activity after last week’s plunge to a 52-week low.
Wipro Ltd’s (NYSE:WIT) sister company, Wipro Enterprises, is adjusting its sights to the semiconductor manufacturing sector through chip assembly, following other Indian companies as they look for new sources of growth, a report by the Economic Times said on Tuesday.
Photo by Jeremy Waterhouse in Pixels
The group is said to be currently looking for a reliable technology partner for the initiative.
The plan aims to boost the technology’s fast-growing sector, thanks to the artificial intelligence industry boosting demand for data centers for semiconductor products.
Chips aside, the rally can also be attributed to bargain hunting after Wipro Ltd. (NYSE:WIT) hit a low of $2.11 last week.
Tuesday, however, marked the company’s fourth consecutive day in the green as investors continued to unload portfolios to take advantage of its cheap price.
Wipro Ltd. (NYSE:WIT) is an India-based technology company engaged in providing information technology, consulting, and business process services.
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Read more: 30 stocks that should double in 3 years and 11 Secret AI Stocks to Buy Right Now.
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