Wipro share price headed for best week in six years, but stock has most 'sell' ratings among largecap IT
Wipro's shares rose 6% on October 16 after its September quarter results exceeded analyst expectations for revenue and EBIT margin. The stock is up 13.5% this week, its best performance since 2020. Nomura has a 'buy' rating with a ₹200 price target, while Citi maintains a 'sell' rating with a ₹145 target. Wipro has the most 'sell' ratings among large-cap IT stocks, with 20 out of 44 analysts recommending sell. The stock is trading at ₹185.17, up 6.4% for the day, but down 30% year-to-date.
How this was made
The 30-second read
Why it matters
The earnings beat and margin improvement drove a sharp intraday rally, but the stock remains the worst performer on the Nifty IT index YTD.
Market read
Wipro's earnings surprise provides a short‑term trading opportunity and may influence sentiment toward Indian IT equities.
What to watch
Currency volatility and macro‑economic slowdown could pressure margins despite the beat.
Background
Wipro is a major Indian IT services firm; its earnings are closely watched for sector health.
Ticker impact
Wipro reported September quarter results that beat margin expectations, driving a 6% share price rise.
likely upward pressure as traders price in the earnings beat and improved guidance.
The beat was the first report of the numbers, the stock moved >6% on the day, and analysts are raising targets.
Market effects
Positive earnings may lift other large‑cap Indian IT stocks.
Supports broader gains in the Indian equity market.
Limited to investors with exposure to Indian IT sector.
Counterpoint
High sell‑rating count suggests caution; downside risk if guidance misses future expectations.
Key entities
- analystNomura
Raised price target to ₹200 and maintained a buy rating.
- analystCiti
Maintained a sell rating with a lower price target of ₹145.
