Wipro slumps after projecting weak forecast

Mumbai: Shares in Wipro Ltd, India's third-largest software services provider, fell as much as 8.8 per cent in opening trade after it gave weaker-than-expected quarterly sales forecast on Friday.

Wipro joined No. 2 player Infosys Ltd in delivering tepid revenue outlook, citing a delay in the closure of deals.

Wipro also reported a 16.7 per cent rise in quarterly profit to Rs 17.29 billion on Friday.