Wipro's Stock Dips Amid Revenue Drop Forecast and Global Uncertainties

Wipro's shares fell over 4% following warnings of a weak upcoming quarter, predicting a 3.5% drop in IT services revenue due to global uncertainties. The company's market value decreased by Rs 11,096.56 crore. Wipro's CEO highlighted geopolitical tensions and macroeconomic issues as contributing factors.

Shares in Wipro fell more than 4% on Thursday after the company forecasted a challenging upcoming quarter, predicting up to a 3.5% decline in IT services revenue for Q1FY26 amid wider global insecurity.

The firm's stock closed at Rs 236.90 on the BSE, a 4.28% decrease, after hitting a low of Rs 232.20 during the day. Similarly, at the NSE, shares closed down 4.13% at Rs 237.40, reaching an intraday low of Rs 232.15.

This stock performance reduced Wipro's market capitalization by Rs 11,096.56 crore, settling at Rs 2,48,088.80 crore. Despite reporting a 25.9% year-on-year increase in net profit for the March quarter, the company expects challenges ahead. CEO Srini Pallia cited geopolitical tensions and economic factors, including tariffs, as key instigators of uncertainty affecting global markets.

(With inputs from agencies.)