Wipro Stocks, Wipro Share Price Updates October 18, 2024: IT major Wipro has recorded a 21 per cent profit rise, beating market estimates. While revenue and margins reported were largely in line with street estimates in Q2, the outlook for next quarter isn’t encouraging.

On a quarter-on-quarter (q-o-q) basis, profits were up 6.85 per cent. Revenue from operations stood at ₹22,302 crore, registering marginal growth on a sequential basis, and a 1 per cent YoY decline. 

Wipro has tapered its guidance for the next quarter to (-) 2 per cent to 0.0 per cent in constant currency terms. It had guided in the range of -1 to 1 per cent for the second quarter previously.

Shares closed nearly 4 per cent higher on Friday. 

ALL UPDATES

  • October 18, 2024 15:40

    Wipro shares closing figures: Shares end nearly 4% higher

    Wipro stock closed​ 3.59% higher on the NSE at ₹547.75. On the BSE, the stock ended 3.63% higher at ₹548.

  • October 18, 2024 15:07

    Wipro shares traded 3.95% higher on the NSE at ₹549.65 as at 03.05 pm.

  • October 18, 2024 14:21

    Wipro share price today: Shares up 4%

    Shares of Wipro traded at ₹550.95 on the NSE, higher by 4.20% as at 2.19 pm

  • October 18, 2024 13:59

    Wipro stock in focus: Axis Securities recommends ‘Sell’ 

    Wipro has lagged in its execution despite achieving better results and securing higher deal wins. However, FY25E may witness some recovery supported by these strong deal wins. Given the lack of necessary visibility, a SELL rating is recommended for the stock

  • October 18, 2024 13:12

    Wipro shares rose 4.23% on the NSE to ₹551.10 as at 1.10 pm.

  • October 18, 2024 12:36

    Wipro stock in focus: Brokerage PL Capital on Wipro

    Revenue conversion remains a challenge for the company, given its exposure to discretionary areas. The core business challenges and macro uncertainties would keep the top-line growth unstable in the near term. We estimate revenues/earnings CAGR of 4.1%/8.8% over FY24-FY27E. The stock is currently trading at 20x FY27E. We are assigning P/E of 22x to FY27E with a target price of Rs580. We maintain “ACCUMUALTE” rating.

  • October 18, 2024 12:22

    Stock market today: Nifty IT index declined 1.41% to 42,130.30

  • October 18, 2024 12:06

    Wipro shares were up 3.40% on the NSE, trading at ₹546.75 as at 12.05 pm.

  • October 18, 2024 12:05

    Stock market today: Top gainers include Wipro

    Top gainers on the NSE as at 12 noon:

    Axis Bank (5.75%), Wipro (3.39%), Eicher Motors (2.75%), Tata Motors (2.01%), Hindalco (1.93%)

    Top losers:

    Infosys (-4.38%), ITC (-1.83%), Britannia (-1.54%), Nestle India (-1.39%), Cipla (-1.20%)

  • October 18, 2024 11:12

    Wipro share price today: Shares trade 3% higher

    Wipro stock traded at ₹345.25 on the NSE, up 3.12% as at 11.10 am.

  • October 18, 2024 10:34

    Wipro stock in news: Bonus issue

    Wipro board has announced issue of bonus equity shares in the proportion of 1 :1 

  • October 18, 2024 10:33

    Stock market today: Sensex, Nifty open lower as FII selling intensifies, middle east tensions weigh; Technology stocks show mixed performance

    Indian benchmark indices Sensex and Nifty opened lower on Friday, extending losses for the fourth consecutive session, as foreign institutional investors (FIIs) continued their selling spree amid escalating geopolitical tensions in the Middle East.

    The BSE Sensex opened at 80,749.26, down from its previous close of 81,006.61, while the NSE Nifty started at 24,664.95, sliding from Thursday’s close of 24,749.85.

    Technology stocks showed mixed performance in early trade. While Wipro emerged as the top gainer, surging 4.24 per cent following a 21 per cent profit rise and 1:1 bonus share announcement, Infosys dropped 2.37 per cent despite raising its revenue guidance.

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  • October 18, 2024 10:26

    Wipro stock in focus: Global brokerages on Wipro

    • Macquarie on Wipro: Maintain Outperform on Company, target price at Rs 670/Sh (Neutral)
    • Nomura on Wipro: Maintain Outperform on Company, target price at Rs 680/Sh (Neutral)
    • MS on Wipro: Maintain Underweight on Company, target price at Rs 500/Sh (Neutral)
    • Jefferies on Wipro: Maintain Underperform on Company, target price at Rs 465/Sh (Neutral)
  • October 18, 2024 10:12

    Wipro stock in focus: JM Financial on Wipro: Recommends buy at a TP of ₹640

    WPRO’s 2QFY25 performance was its best in recent times. Revenues grew 0.6% cc QoQ (JMFe: 0%), a first sequential growth after six quarters of decline. Three out of four markets grew, suggesting broad-based nature of recovery. Its strategic priorities of scaling metal accounts/large deal focus are bearing fruits. Large deal wins (USD 1.5bn) was the highest in 10 quarters. Top-1/4-5/6-10 client buckets outpaced company average. Two of its largest win this quarter came through share gains, allaying concerns of WPRO losing in consolidation scenarios. APMEA showed early signs of improvement. Tech and Telecom returned to growth, on back of USD 500mn deal win in 4Q. CAPCO (+3.4% QoQ) sustained its momentum. There are still areas that need fixing. E&U continues to be beset by client specific ramp-downs. Manufacturing remains a work-in-progress. These, alongside seasonal weakness informed an underwhelming 0-2% cc QoQ guidance for 3Q. Margin performance (+35bps QoQ) despite wage hikes (1 month impact) remains a bright spot. WPRO reiterated its target band of 17-17.5%, which now looks increasingly achievable. As we have argued before, WPRO’s guidance has a recency bias and fails to capture underlying improvements. Deal wins, financial services momentum, headcount growth and stability in senior leadership are building blocks for a return to sustainable growth trajectory. We remain hopeful. It reflects in FY25-27E EPS upgrade of 1-4%. We retain BUY with a TP of INR 640 (from INR 630). A potential capital allocation announcement in Q3 should support the stock. BUY.

  • October 18, 2024 10:02

    Wipro share price today: Shares up 5%

    Shares of Wipro Ltd traded at ₹555.05 on the NSE, higher by 4.97% as at 10 am.

  • October 18, 2024 10:01

    Wipro Q2 results in focus: Wipro records 21% rise in profit at ₹3,209 cr in Q2

    IT major Wipro has recorded a 21 per cent profit rise, beating market estimates. While revenue and margins reported were largely in line with street estimates in Q2, the outlook for next quarter isn’t encouraging.

    On a quarter-on-quarter (q-o-q) basis, profits were up 6.85 per cent. Revenue from operations stood at ₹22,302 crore, registering marginal growth on a sequential basis, and a 1 per cent YoY decline. 

    Wipro has tapered its guidance for the next quarter to (-) 2 per cent to 0.0 per cent in constant currency terms. It had guided in the range of -1 to 1 per cent for the second quarter previously.

    Read more