On Friday, Wipro surged 6.4% to ₹185.17 after reporting a September quarter that saw revenue flat at 0% sequential—exactly meeting the 0% figure that market analysts had forecasted, and eclipsing the -0.75% decline some had warned of. The company’s EBIT margin rose to 16.5%, topping the 16% estimate and nudging the stock higher on the day.
The rally has now stretched to a 13.5% gain for the week, the best since October 2020 when the shares jumped 19%. 52‑week lows of ₹156.75 have been clawed back almost 20%, but the stock remains 30% lower on a year‑to‑date basis—its worst performance among the Nifty IT names.
Analysts have mixed signals: Nomura, with a buy rating and a ₹200 target, praised the Q4 guidance—revenue expected between –1.5% and +0.5% and EBIT margin in the 17‑17.5% band—while Citi kept a sell stance with a ₹145 target. Twenty of the 44 analysts covering Wipro issue sell recommendations, the highest count among large‑cap IT peers.
Despite the week‑long surge, the stock’s broader context is cautionary. The IT sector’s average earnings beat was 17.8%, so Wipro’s margin remains modest. The 30% YTD decline underscores a lingering sell‑side sentiment, especially after a prolonged slump in the sector.
Looking ahead, Wipro’s guidance for the next quarter indicates a slight contraction in revenue but a tightening EBIT margin. The company will announce its Q4 results on November 8, and investors will be watching for any shift in guidance that could alter the stock’s trajectory.