Wipro Share Price: The shares of Wipro Ltd tanked over 6% in early trade on Thursday after the company’s March quarter earnings prompted a cautious outlook for the stock, with analysts downgrading rating, cutting price targets. At around 11:00 am, the IT shares were trading at Rs 233.45 on NSE, down 5.73% against previous day's cloinsg price of Rs 247.65 per share.

Wipro Q4 Result

The IT services provider reported constant currency revenue growth for the January-March quarter, which was in line with the company’s expectations but below street estimates.

Wipro’s adjusted net profit rose 25.9 per cent to Rs 3,569.6 crore in the March quarter. In the previous period, it had reported a profit (for the equity holders of the company) of Rs 2,834.6 crore. FY25 revenue stood at Rs 22,504.2 crore, a marginal increase of 1.33 per cent over Rs 22,208.3 crore in the fourth quarter of FY24.

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For the first quarter of FY26, Wipro expects revenue to be in the range of $2,505 million to $2,557 million, suggesting a revenue decline of between -1.5% and -3.5%.

Brokerage Firm Downgrades Rating

-Brokerage firm Nuvama Institutional Equity downgraded Wipro to 'hold', and it price target to Rs 260 from Rs 300 earlier for the IT stock. Nuvama had upgraded Wipro a few months ago on the basis of the twin benefits of recovery with discretionary spending, given its high exposure to discretionary spending and relatively cheap valuations.

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Disclaimer: This is just a piece of news about recent development in the stock. Jagran does not advise investing, please do take expert advise before investing.