Shares of Wipro slipped nearly 5% on Friday, losing most on both Sensex and Nifty after Q2 earnings. The IT stock slipped 4.62% to Rs 242 on NSE in the current session.
Market cap of the IT firm stood at Rs 2.54 lakh crore. The correction in the IT stock comes at a time when it is down 19% this year. The trend is also weak in terms of simple moving averages.
Wipro shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
Motilal Oswal has a sell call on the IT stock. It sees a downside of 21% at Rs 200 for the Wipro stock after Q2 earnings.
The brokerage believes that broad-based growth across verticals and a stable conversion
of deal TCV to revenue will be key to a constructive view.
However, global brokerage Nomura has a buy call on Wipro with ba price target of Rs 280.
The brokerage believes Q2 was a beat across most parameters. It cited strong deal wins behind its bullish stance. The company is aiming to keep EBIT margin in a tight band despite headwinds. Wipro’s FY27F dividend yield is 4% and the stock currently trades at 19.8x FY27F EPS, said Nomura.
The IT major said large deal bookings rose 91% on a year-on-year basis in the September 2025 quarter. Overall deal bookings stood at $4.7 billion.
Jefferies has an underperform call on Wipro with a target price of Rs 220.
Q2 adjusted for Rs 1.2 billion one-time charge, were in line, said the brokerage adding that healthy deal bookings point to incrementally better outlook, evident from its 3QFY26 revenue growth guidance of -0.5% to +1.5% QoQcc. However, margins may be under pressure due to deal ramps & recent acquisition. The brokerage expects 3% EPS CAGR, which along with 3% dividend yields makes risk-reward unattractive.
On Thursday, Wipro reported a Rs 3246 crore net profit in the last quarter against Rs 3208 crore profit in the September 2024 quarter. However, profit slipped 2.5% on a quarter-on-quarter basis from Rs 3330 crore from June 2025 quarter.
Revenue from operations climbed 1.77% to Rs 22,697.3 crore in the September 2025 quarter against Rs 22,301.6 crore in the year ago period.