Wipro Share Price at Rs. 260.73: Stock Edges Up 0.05% Amid Consolidation

Overview:

• Wipro stock moved in a tight range between Rs. 258.54 and Rs. 261.50, showing balanced buying and selling pressure with no clear breakout direction yet.

• In the weekly chart, the momentum indicators broadly reflect mild strength. Signals remain cautious in the monthly chart. RSI and moving averages suggest that this is the stock in which to wait and watch.

• This further strengthens Wipro's long-term growth narrative with the global rollout of Google Gemini Enterprise and its AI Experience Zone in Bengaluru.

Wipro share price moved in a tight range in the latest session and reflected a phase of consolidation amid mixed market cues and evolving business developments. The stock last traded at Rs. 260.73, up by 0.05% over its last close of Rs. 260.60. Intraday, Wipro oscillated between a high of Rs. 261.50 and a low of Rs. 258.54, indicating participation from both buyers and sellers on a cautious note.

Despite subdued price action, volumes remained healthy, with more than 2.1 million shares exchanged and a turnover of nearly Rs. 5,495 lakh. The VWAP is held at Rs. 260.24, close to the current trading level, reinforcing the sideways trend. Let’s explore an in-depth Wipro share price analysis based on Moneycontrol data.

Technical Setup Signals Consolidation

Wipro stock would seem to be reversing gradually from a mildly bearish into a more neutral, range-bound structure. The stock is well below its 52-week high of Rs. 324.60 but comfortably above the 52-week low of Rs. 228, suggesting that downside support still exists.

The momentum indicators paint a mixed picture. On the one hand, the weekly signals of the tools, including MACD and KST, are showing mild bullishness, indicating the likelihood of stability in the short term. On the other hand, monthly indicators are yet to be convinced; longer-term investors are still waiting for better confirmation. The RSI is not indicating overbought or oversold conditions, hence balanced demand and supply.

Daily moving averages still indicate some pressure, which corresponds to the narrow intraday range of the stock. According to the technical structure, the indications are that consolidation is taking place rather than any evidence of a breakout or breakdown.

Wipro share price chart on Moneycontrol shows gains of 0.05% at press time:

Also Read: Stock Market Today: Sensex Down 154 Points, Nifty Slips Below 26,000; ONGC Falls 2.4%

Fundamentals Remain Reasonably Supportive

Wipro shares exchange at a TTM P/E of 20.25, much below the sector average of above 30, to make the valuations look relatively reasonable. Even its price-to-book comes at 3.32, remaining on the lower side against most of its peers. The company has a dividend yield of 2.30%, adding to its income appeal for long-term investors.

The IT major reported a TTM EPS of Rs. 12.87, which corresponds to a growth of almost 15% compared to a year ago. With its market capitalization crossing Rs. 2.73 lakh crore mark, Wipro remains a large-cap player in the Indian IT services space.

AI Strategy Strengthens The Long-Term Narrative

Investor sentiment also factored in Wipro's expanding focus on artificial intelligence. The company recently announced that it was beginning a global rollout of Google Gemini Enterprise across its internal operations. The move aligns with Wipro's ‘Client Zero’ strategy that sees new technologies tested internally before being offered to clients.

Additionally, Wipro opened a Google Cloud Gemini Experience Zone at Bengaluru. The facility houses hundreds of production-ready AI agents across industries like banking, health care, retail, and manufacturing. This move further solidifies Wipro's positioning in enterprise AI adoption and could support productivity gains over time.

Also Read: Wipro Goes All-In on Google Gemini AI With Global Rollout and Bengaluru Experience Zone

Investor Outlooks

Analyst sentiment is still mixed on Wipro share price, with the majority maintaining a ‘Hold’ stance. After the recent underperformance of this stock in comparison to the Sensex today, the investors seem to tread cautiously in the near term. However, reasonable valuations, steady dividends, and a clear AI-led strategy offer longer-term comfort.

In the immediate to short term, the share price of Wipro would trade in a narrow range as strong earnings trigger or a sector-wide rally is awaited. Investors might look at volume trends and key resistance around Rs.  265 for possible signs of a directional move.

FAQs

1. Why is the Wipro share price trading in a narrow range?

Wipro is now entering the consolidation phase, wherein buyers and sellers are almost matching each other. Technical indicators like RSI and moving averages indicate no strong momentum and will keep the stock range-bound around Rs.  260.

2. Is the Wipro stock expensive at current levels?

Valuations for Wipro look reasonable in comparison with peers. The P/E ratio is lower than the average for the sector, while the steady dividend yield adds comfort for long-term investors.

3. What are technical indicators saying about Wipro share price?

Technical indicators are indecisive in their signals. The weekly momentum is mildly positive, and the monthly indicators are cautious. This suggests short-term stability but no strong trend yet.

4. How critical is AI in the times to come for the future growth of Wipro?

AI is a key growth driver for Wipro. This rollout of Google Gemini Enterprise will actually help cement the company's focus on improving productivity and delivering scalable AI solutions.

5. Should investors buy Wipro shares now or hold?

Most analysts today recommend the stock as a 'hold'. Although there is limited upside in the near term, on valuation and dividend yield grounds, apart from its AI strategy, Wipro is a decent bet for patient, long-term investors.