Wipro Ltd a Citi “Sell” call with a ₹170 target.

WIPRO Wipro reported Q2 FY27 revenue of ₹247.5 billion, up 9.1% year-on-year, with an operating margin of 16.5% (up 0.5% QoQ) and net income of ₹32.0 billion (down 4.7% QoQ); total contract value (TCV) fell 23% sequentially to $2.6 billion due to client-side delays, though management expects these deals to close in the December quarter. On the market side, shares were around ₹199 on November 6, with a market cap near ₹2.09 lakh crore; Citi raised its target price to ₹170 from ₹145 but retained a Sell rating, citing limited earnings growth (about 2% annual EPS growth through FY29). In leadership news, Wipro appointed Angan Guha as President and CEO of Americas 2 Strategic Market Unit effective December 8, reporting to CEO Srini Pallia; Guha returns from Birlasoft, where Madhavan Hariharan has been named successor. In strategic developments, Wipro completed a 20% acquisition of ***** Inc. (its first strategic AI stake) on October 28, and received an ESG rating of 79.18 from Niche Ninety Nine. The company also announced analyst meetings on November 17 (JM Financial conference) and November 19 (non-deal roadshow) in Mumbai, and its Q3 revenue guidance is $2,571–$2,625 million in constant currency.