Wipro Share Price Today: The counter opened in the red at Rs 235.80 on the BSE against the previous close of Rs 247.50.
Mumbai: Wipro Share Price: Shares of IT services company Wipro crashed over six per cent in the morning trade despite the company reporting a 25.9 per cent year-on-year rise in consolidated net profit for the March quarter to Rs 3,569.6 crore. The counter opened in the red at Rs 235.80 on the BSE against the previous close of Rs 247.50. However, the stock dipped further amid selling pressure to touch the intraday low of Rs 232.20 – a fall of 6.18 per cent. Last seen the counter was trading at Rs 234.15.
On the NSE, the counter opened at Rs 235 and went on to touch the intraday low of Rs 232.15.
Wipro Share Price: Why Wipro Stock Crashed?
The stock has crashed by over 6 six per cent despite a rise in the net profit because the company has warned of a weak quarter ahead with up to a 3.5 per cent expected drop in IT services revenue for Q1FY26, amid global uncertainties.
Moreover, the stock crashed as the Nifty IT index dipped over 2 per cent in the morning trade. Last seen, Nifty IT was down by 1.70 per cent and was trading at Rs 32,728. It had opened at 32,832.65 against the previous close of 33,295.50.
Wipro Share Price: What CEO Said?
Wipro CEO and MD Srini Pallia said clients remain cautious in the face of macroeconomic uncertainty, but Wipro is focused on partnering closely with them while keeping its gaze on consistent and profitable growth.
Pallia acknowledged that the recent tariff announcements have added to the global uncertainties.
“The global industry environment remained uncertain for most of the year. And, of course, the recent tariff announcements have only added to that. Even though the underlying demand for the tech re-invention remains strong, our clients are approaching it more cautiously,” he said.
Wipro is the fourth-largest IT company in India and competes with larger peers like TCS and Infosys.
