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Wipro Shares Jump 2 Percent Post Q2 Results As Nomura Sees 15 Percent Upside
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Moneycontrol•16-10-2026, 10:30
Wipro Shares Jump 2 Percent Post Q2 Results As Nomura Sees 15 Percent Upside
- •Wipro shares surged 2 percent in early trade on Friday following the release of its second-quarter earnings.
- •Brokerage firm Nomura maintained a buy rating on the stock with a target price of 200 rupees, indicating a potential 15 percent upside.
- •Wipro reported a consolidated net profit of 3,200.6 crore rupees for the September quarter.
- •Operating revenue rose 1.1 percent quarter-on-quarter to 24,752.7 crore rupees, slightly beating analyst expectations.
- •The company expects operating margins to gradually recover towards its targeted range of 17 to 17.5 percent over time.
Key Questions Answered
Brokerage firm Nomura has maintained a 'Buy' rating on Wipro shares and set a target price of Rs 200, representing an expected upside of about 15 percent from the previous closing price.
Wipro reported a consolidated net profit of Rs 3,200.6 crore for the September quarter, marking a 4.5 percent decline sequentially, while operating revenue rose 1.1 percent quarter-on-quarter to Rs 24,752.7 crore.
For the October-December quarter, Wipro has estimated its IT services revenue to range between $2,571 million and $2,625 million, reflecting continued subdued demand.
