Shares of IT behemoth and the country's fourth-largest IT company, Wipro, surged nearly 4% today after the company's board of directors approved a 1:1 bonus issue. This also comes on the back of positive Q2 results declared by the company yesterday.

The Q3FY25 guidance was muted due to furloughs and softness in key regions, particularly in Europe. Sectors like manufacturing and energy remain soft, with signs of a potential revival but no immediate turnaround.

Wipro CEO and MD Srini Pallia said the Q2 was driven by strong execution, which enabled the Bengaluru-based firm to meet its expectations for revenue growth, bookings, and margins.

Wipro , India's fourth-largest software company, posted higher-than-expected second-quarter revenue on Thursday, helped by a revival in spending by its clients in the U.S. communications sector.

IT major Wipro has recorded a 21 per cent profit rise, beating market estimates. While revenue and margins reported were largely in line with street estimates in Q2, the outlook for next quarter isn’t encouraging.

Morgan Stanley in its note said that they expect the stock's relative underperformance to continue as revenue growth lags behind peers, with limited visibility of any near-term improvement.