Wipro shares dropped over 4% on Friday, October 17, following the release of its September quarter results a day earlier. Among the 47 analysts covering the stock, 16 recommend a “sell,” 13 suggest a “buy,” and 18 maintain a “hold,” reflecting a divided outlook on the company’s performance.
Nomura retained a buy rating with a target price of ₹280 per share, implying a 10% upside from Thursday’s close. The brokerage said Wipro’s Q2 results exceeded expectations across most metrics, with robust deal wins. It noted that the company aims to keep its EBIT margins steady despite headwinds, and highlighted a 4% FY27 dividend yield. The stock trades at about 19.8 times FY27 estimated earnings.
Jefferies, however, maintained an underperform rating with a target of ₹220, signaling a potential 13% downside. It said Q2 results were largely in line after adjusting for a ₹120 crore one-time charge. Despite healthy deal bookings, Jefferies expects modest EPS growth of 3% CAGR for FY26–FY28 and called the stock’s risk-reward “unattractive.” Wipro’s shares closed at ₹242.8, while its US-listed ADRs fell 2.5% overnight.