BENGALURU: Shares of Wipro fell as much as 6.3% on Thursday, a day after the company forecast a weak June quarter, adding to concerns over weak demand flagged earlier by rival TCS.
India’s fourth biggest IT exporter on Wednesday forecast revenue in the first quarter to fall between 1.5% and 3.5% sequentially, with Chief Executive Srini Pallia saying “uncertainties have dramatically increased” heading into the new fiscal year.
India’s Wipro eyes best day in four years on echoing IT peers’ demand revival hopes
At least 20 analysts have cut their target price on Wipro’s stock, according to data compiled by LSEG.
“Wipro’s outlook was weaker than what the market anticipated,” said BOB Capital Markets said in a note, adding that a weak start for fiscal 2026 was “probably a harbinger for a third successive year of negative revenue growth”.
Shares were trading down 5.6% as of 9.41 a.m. IST.
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