The condition of shares of IT company Wipro Limited is not good. After the release of quarterly results, there was a huge fall in the company’s shares on Monday. The shares of this IT company have fallen by 10 percent today. On Monday, the shares of Wipro Limited opened with a decline at the level of Rs 252.95 in BSE. The company’s share price fell by 10 percent during the day and reached an intra-day low of Rs 241.75.
Got work worth Rs 900 crore from American company, shares rose 8% amid heavy selling
Brokerage reduced target price
According to the report of CNBC TV18, Morgan Stanley has cut the target price. The brokerage house has downgraded Wipro to ‘equalweight’ from ‘underweight’ rating. Along with this, the brokerage house has reduced the target price from Rs 270 to Rs 242.
Jefferies has given a rating of ‘underperform’. The brokerage house has set a target price of Rs 220 for Wipro.
IPO 50% filled in 2 days, showing profit in gray market, last chance to place bets
Investors disappointed with quarterly results
Wipro’s consolidated net profit declined by seven percent to Rs 3,119 crore in the October-December quarter of financial year 2025-26. The decline was due to a one-time temporary provision of Rs 302.8 crore due to the implementation of the new labor code. The Bengaluru-based company’s net profit in the third (October-December) quarter of 2024-25 was Rs 3,353.8 crore. The company said on Friday that Wipro’s operating revenue increased by 5.5 percent to Rs 23,555.8 crore in the third quarter of the financial year 2025-26, whereas in the same period of the last financial year 2024-25. Was Rs 22,318.8 crore. On a quarterly basis, Wipro’s profit declined by 3.9 percent while revenue increased by 3.7 percent.
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