Wipro (NSE: WIPRO) saw its stock rise by 1.65% to ₹537.45 as of 9:17 AM, following its Q2 FY25 results. The stock opened at ₹532.00, reached a high of ₹538.95, and a low of ₹524.80. The previous close was ₹528.75.
Wipro reported a strong 21% rise in Q2 net profit to ₹3,209 crore, beating market expectations. The IT major also announced a 1:1 bonus share issue, further boosting investor sentiment. However, despite these positive results, some concerns remain around growth momentum and deal wins.
Brokerages have offered a mixed outlook. Morgan Stanley maintained an ‘Underweight’ rating with a target price of ₹500, citing concerns over lagging revenue growth and limited near-term visibility for improvement. Nomura, on the other hand, reaffirmed its ‘Buy’ rating with a higher target price of ₹680, highlighting strong deal momentum and margin performance in Q2. Jefferies downgraded its stance to ‘Underperform,’ lowering the target price to ₹465, pointing out the reliance on one-off margin benefits and weak revenue growth outlook.
With strong Q2 results and a bonus share issue announcement, Wipro’s stock is attracting positive attention despite mixed brokerages’ sentiments.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Please seek independent financial advice before making any investment decisions.
