Nomura has maintained its buy rating on Wipro with a target price of ₹280 per share after the company delivered a better-than-expected performance in Q2FY26. The brokerage highlighted that the quarter was a beat across most parameters, supported by strong deal wins and stable margins despite sector headwinds.
Wipro reported gross revenue of ₹22,705 crore, up 1.8% year-on-year and 2.5% sequentially. IT services EBIT margin stood at 17.2%, adjusted for a one-time provision related to a client bankruptcy. Total bookings came in at $4.7 billion, while large deal bookings reached $2.85 billion — up nearly 90% year-on-year in constant currency.
Nomura expects Wipro to maintain its EBIT margin within a narrow range as the company executes on a healthy deal pipeline and focuses on operational efficiency. The brokerage also pointed to an attractive 4% FY27F dividend yield and said the stock currently trades at around 19.8x FY27F earnings. It remains positive on Wipro’s ability to sustain profitability even in a muted demand environment.
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