WIPRO

o Share Price: 19% upside target for IT stock; Morgan Stanley sees strong cash position

Potential buyback size of USD 2bn (Rs 180bn), indicating ~8.5% of market cap Strong cash position (~USD 4.7bn) enabling capital return to shareholders Buyback largely anticipated, but timing uncertainty could drive near-term positive reaction Past buybacks saw the stock outperform in most instances post announcement Near-term sentiment positive, but focus likely to shift back to weak FY27 revenue growth outlook Wipro Share Price Target 2026 Morgan Stanley has maintain Underweight rating with a target price of Rs 242.