Wipro Shares Fall 9% on Weak Guidance; Brokers Divided on Outlook

Wipro’s shares plunged 9% after its Q3 FY26 results revealed a 7% YoY drop in net profit to ₹3,119 crore, despite a 6% rise in revenue to ₹23,556 crore. While top-line growth indicated stable demand, weak profitability and soft guidance sparked investor concerns. The divergence in analyst views highlights uncertainty: Jefferies downgraded to 'Underperform' (TP ₹220) citing a 9% YoY fall in large deal bookings and disappointing Q4 organic growth guidance of –1.6% to +0.4%. Motilal Oswal (TP ₹267) and Nuvama (TP ₹255) took neutral stances, citing muted ramp-ups, limited revenue visibility, and margin pressure from wage hikes. In contrast, Nomura (TP ₹290) and JM Financial (TP ₹310) retained ‘Buy’ ratings, highlighting better-than-expected margins (17.6%) and a ~4% dividend yield as support. Brokerages agree that delayed execution of large deals, especially in BFSI and high-tech verticals, is holding back growth. While the Harman acquisition adds some tailwind, the near-term outlook remains cautious. The market now awaits tangible revenue traction from its strong pipeline to restore confidence.