Wipro Slumps 11% On Weak Forecast.

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Shares in Wipro Ltd, India’s third-largest software services provider, fell as much as 11.25 percent today after it gave weaker-than-expected quarterly sales forecast on Friday.

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

Wipro also reported a 16.7 percent rise in quarterly profit to 17.29 billion rupees on Friday.

Shares were quoting Rs 333.75, down 9.55% at 11.05 a.m. on NSE with a volume of 47.10 lac shares.