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Wipro Shares Head for Best Week in Six Years Despite Heavy Sell Ratings
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CNBC TV18•16-10-2026, 11:10
Wipro Shares Head for Best Week in Six Years Despite Heavy Sell Ratings
- •Wipro shares surged over 6% following stronger-than-expected September quarter results in margin and revenue growth.
- •The stock is up 13.5% for the week, marking its best performance since October 2020 and rebounding 20% from its 52-week low.
- •Despite recent gains, Wipro holds the highest number of sell ratings among largecap IT stocks, with 20 out of 44 analysts recommending a sell.
- •Nomura maintains a buy rating with a price target of ₹200, while Citi retains a sell rating with a target of ₹145.
- •Wipro's third-quarter revenue growth guidance is expected to range between negative 1.5% and positive 0.5%.
Key Questions Answered
Wipro shares gained over 6% on Friday, October 16, after reporting September quarter results that exceeded analyst expectations on both margin and revenue growth fronts.
Among largecap IT names, Wipro has the highest number of sell recommendations, with 20 out of 44 tracking analysts giving it a 'sell' rating, compared to fewer ratings for peers like TCS, Infosys, and HCLTech.
For the third quarter, Wipro expects its constant currency revenue growth to land between a negative 1.5% and a positive 0.5%, matching street expectations.
