Shares of Wipro Ltd have turned weak in the short term. The IT firm’s stock has fallen 12% this year. The stock could rise just 1.73% in three months. The stock’s weakness in the last six months comes ahead of Q1 earnings season set to start in nine days. TCS will kick-start the earnings season on July 10.
Meanwhile, Wipro stock was trading on a flat note at Rs 265.20 in the current session. Market cap of the firm stood at Rs 2.77 lakh crore. Total 1.49 lakh shares of the firm changed hands amounting to a turnover of Rs 3.97 crore on BSE.
Wipro stock hit a 52 week high of Rs 324.55 on January 23, 2025 and fell to a 52 week low of Rs 225.05 on April 7, 2025.
Wipro shares are trading lower than the 5 day, 10 day, 100 DAY, 150 DAY, 200 day but higher than the 20 day, 30 day and 50 day moving averages.
In terms of technicals, the relative strength index (RSI) of Wipro stands at 63.2, signaling the stock is neither oversold nor overbought on charts.
JM Financial has buy call on Wipro ahead of Q1 earnings. It sees a 17% upside in the stock with a price target of Rs 310.
The brokerage expects Wipro to be in the upper half of its -3.5% to -1.5% constant currency QoQ guided band. JM said 135bps cross currency tailwind should result in a -0.7% QoQ USD revenue growth for IT Services. It expects continued headwind in EU and EM&U, partially offset by sustained momentum in CAPCO. Wipro’s margins are likely to stay in a narrow band as its efficiency drive will likely offset revenue decline
The ramp-up of Phoenix deal from Q3 should give better visibility heading into the second half. the brokerage expects Wipro to guide for a -1 to +1% QoQ cc growth in 2QFY26.
Kotak Securities has a ‘sell’ call on the stock. In Mid June, the brokerage fixed a price target of Rs 230 on the IT stock.
Wipro reported a 25.93 per cent year-on-year (YoY) rise in its consolidated net profit for the March 2024 quarter (Q4 FY25). Profit rose to Rs 3,569.6 crore compared to Rs 2,834.6 crore in the corresponding period last year (Q4 FY24).
Revenue from operations rose 1.33 per cent to Rs 22,504.2 crore in Q4 FY25 compared to Rs 22,208.3 crore in the year-ago period. Gross revenue climbed 1.3 per cent to Rs 22,500 crore. However, IT services segment revenue was down 2.3 per cent YoY.
IT services operating margin for Q4 FY25 was at 17.5 per cent, up 1.1 per cent YoY. Wipro said its voluntary attrition came at 15 per cent on a trailing 12-month basis.
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