Wipro shares fall over 4% in response to Q2 results; Jefferies says risk-reward ‘unattractive’

Analysts tracking the stock have mixed views on the road ahead for Wipro after its quarterly results.

Here’s a look at what analysts had to say:

Nomura

Nomura has a “buy” rating on Wipro with a price target of ₹280 per share, indicating a potential upside of 10% from Thursday’s close.It said the company’s second quarter earnings were a beat on most parameters.
Wipro’s deal wins remain strong. It aims to maintain its earnings before interest and tax (EBIT) margin within a tight band, despite headwinds, Nomura said.The company’s FY27 dividend yield is 4% and the stock currently trades at 19.8 times its FY27 estimated earnings-per-share.

Jefferies

Jefferies has an “underperform” rating on Wipro with a price target of ₹220 per share, indicating a downside of over 13% from its previous close.

It said Wipro’s second quarter results, adjusted for a ₹120 crore one-time charge, were in-line with estimates.

Its strong deal bookings also signalled an improving outlook.

Wipro has guided for revenue growth for the third quarter to be between a growth of 1.5% and a decline of -0.5% sequentially on a constant currency (CC) basis. The forecast excludes any potential contribution from its recently announced acquisition of Harman Digital Transformation Solutions.

Jefferies expects Wipro’s Earnings Per Share to grow at a Compounded Annual Growth Rate (CAGR) of 3% over financial year 2026 and 2028, and along with a 3% dividend yield, the risk-reward for the stock is now “unattractive.”

Shares of Wipro are trading 4.4% lower on Friday at ₹242.8. The US-listed shares (ADRs) had also ended 2.5% lower overnight.