From Yahoo Finance: 2025-04-17 00:18:00

Shares of Wipro dropped 6.3% as the company projected a weak June quarter, expecting a revenue decline of 1.5% to 3.5%. Analysts predict another tough year for Wipro due to global tech spending pressures and uncertainties. CEO Srini Pallia highlighted challenges, raising concerns about the company’s turnaround efforts.

Analysts warn of a potential third year of revenue decline for Wipro, following two years of negative growth. Nine of 39 analysts covering the stock have downgraded their ratings, with 20 cutting their price targets. The average rating remains “hold,” with a median price target down almost 14% to 250 rupees.

BOB Capital Markets noted that Wipro’s outlook was weaker than expected, suggesting a third consecutive year of negative revenue growth. Wipro’s shares were trading down 5.5%, falling 22.4% year-to-date, outperforming the Nifty IT index, which has dropped 24.8%. Infosys, a larger competitor, was also down 1.7% ahead of its results release.



Read more at Yahoo Finance: Wipro shares drop after weak first quarter forecast flags growth worries