Wipro share price will be in focus on Monday after the company announced that its CEO and MD Thierry Delaporte resigned from his position on April 6 and Srinivas Pallia will succeed him as the IT giant's new MD and CEO.
Wipro shares ended on Friday 0.49% lower at ₹485 apiece on the National Stock Exchange (NSE).
Stock market analysts believe that the Wipro share price is likely to react positively to the news of the appointment of Srinivas Pallia as the new CEO and MD.
“The market is likely to react positively to the appointment of Srinivas Pallia, a veteran Wipro leader with extensive industry knowledge, as the new CEO. We can expect a move towards 525 levels in the coming days," Santosh Meena, Head of Research, Swastika Investmart Ltd. told Livemint. Read more:
