Wipro Stock Tumbles 4.6% After Tepid Q2 Earnings, Cautious Outlook

o Ltd's shares nosedived 4.6% on Friday, claiming the unwanted title of top loser on the Nifty 50 index, as investors reacted coolly to the IT giant's underwhelming Q2 FY26 results and guarded forward guidance. The stock hit a session low of Rs 242 on the National Stock Exchange, down from Thursday's close of Rs 253.81. Brokerage firms offered a split verdict, with many citing the subdued revenue uptick as a drag amid a broader IT sector slowdown. For the quarter ended September 2025, Wipro posted a 1.15% year-on-year increase in net profit to Rs 3,246 crore, up from Rs 3,209 crore last year. Revenue climbed a modest 2% to Rs 22,697 crore—edging just shy of analyst expectations of Rs 22,700 crore, per CNBC-TV18 estimates. Despite the soft numbers, CEO Srini Pallia struck an optimistic tone: "Our revenue momentum is strengthening, with Europe and APMEA returning to growth, and our operating margins holding steady within the narrow band. Bookings surpassed $9.5 billion for H1 FY26." He emphasized the firm's push into AI via its "Wipro Intelligence" platform to drive long-term resilience. As markets digest the news, Wipro's focus on tech transformation could provide a silver lining, though near-term volatility looks set to persist.