Wipro’s shares declined by 4.48% to ₹242.44 by 11:09 AM on Friday, despite releasing second-quarter results that exceeded expectations and securing significant large deal bookings of $2.9 billion for Q2FY26.
The company’s revenue for the quarter reached $2,604.3 million, marking a 0.7% increase from the previous quarter, surpassing analysts’ estimates. Year-on-year, large deal bookings rose by 90.5%, contributing to a total bookings figure of $4.7 billion. Wipro’s guidance for Q3FY26 indicates expected revenue in the range of $2.5 billion to $2.6 billion, which suggests a sequential growth of -0.5% to +1.5% in constant currency.
Brokerage firms exhibit divergent views regarding the stock’s performance. Nomura has maintained a Buy rating with a target price of ₹280, pointing to robust deal wins as a positive indicator. Conversely, Motilal Oswal continues to hold a Sell rating with a target of ₹200, highlighting concerns over potential growth stagnation. Jefferies has reiterated its Underperform rating, setting a price target of ₹220, and indicating that, while bookings are strong, margins may come under pressure due to deal ramp-ups and acquisitions.
Wipro’s operating margin in IT services was reported at 16.7%, adversely affected by a provision of ₹1,165 million linked to a client’s bankruptcy. The adjusted margin stood at 17.2%.
Over the past year, the stock has fluctuated between ₹228 and ₹324.60. Market participants are showing caution despite management’s optimistic outlook for a recovery in the second half of FY26, driven by the ramp-up of large deals in the Banking, Financial Services, and Insurance (BFSI) sector and the anticipated contributions from the upcoming Phoenix deal.
Published on October 17, 2025.
