Wipro shares surge 63% in five months after appointment of new CEO Thierry Delaporte

Wipro shares have witnessed a resurgence with a gain of 63% from last five months since appointment of company's new CEO Thierry Delaporte. IT company is said to be highest among industry peers in last five months. Delaporte has been able to manage this feat without stepping into office since time of his appointment.

As Wipro gained 63% since last five months, or companies in sector -- Tata Consultancy Services (TCS), which is India's largest software exporter, and Infosys have gained 34% and 56% respectively.

Based out of Paris, Delaporte is yet to visit Hequarters of Company in Bengaluru and has been on a virtual tour from his home in Paris, conducting virtual meetings with employees and customers of company across globe. Serving Capgemini group for 25 years, he held several leership positions including that of  CEO, Delaporte has now become first non-Indian CEO of Wipro.

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Since time of his appointment, Delaporte has taken critical decisions regarding operational structure of company reduced  higher level hierarchy from 25 people to four while focusing more of his attention towards gaining new customers and landing multi-year contracts from clients across Europe and US. Wipro CEO is said to have held meetings with over 130 clients via video conferencing.

company is building hopes to be back on track with incoming CEO, after having years of struggle to bring a turnaround in weakening financials.

After predecessor Abidali Neemuchwala's rough four years in company with an unsuccessful bid to achieve USD 15 billion vision by 2020, Industry analysts are hopeful of Delaporte for making a turnaround in company. Reportedly, Wipro's revenue for year ended March 2020 was USD 8.1 billion.

Wipro's revenues rose by 3.9% in financial year ending in March as compared to 9.8% of Infosys and 7.1% of TCS. HCL Technologies, which leapt ahe of Wipro to take third spot two years ago, witnessed a rise of 17% in revenues. refore, stock market rally of 63% in last five months is seen as a positive sign for Wipro after a long dull phase.

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