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Wipro share price fell 7.59% to Rs. 247.15, hitting an intraday low of Rs. 241.55.
The stock dropped nearly 10% earlier after weak Q4 growth guidance of 0–2%.
The tech giant’s deal bookings fell to $3.34 billion in Q3, the lowest in six quarters.
Wipro share price went down 7.59% to Rs. 247.15 at press time. The stock opened lower at Rs. 252 and continued to slide throughout the day. The dip came after the company issued a weak revenue outlook and faced fresh brokerage downgrades.
Earlier in the session, Wipro shares fell close to 10% and touched an intraday low of Rs. 241.55 before recovering slightly. Over 5.27 crore shares exchanged, far above the 20-day average, showing increased trading activity. Let’s explore an in-depth analysis of Wipro share price based on Moneycontrol data to better understand why it's trading low today.
Investor sentiment turned negative after Wipro shared a muted outlook for the fourth quarter. The company expects revenue growth to be flat or increase by up to 2% in the next quarter, including the impact of acquisitions.
This guidance raised concerns about demand visibility, especially as Wipro reported total deal bookings of $3.34 billion in Q3. It's the lowest level for the company in the last six quarters, turning investors cautious. Market participants believe slower deal closures and delayed project starts are affecting near-term growth.
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Brokerage actions further dragged the stock lower. Morgan Stanley downgraded Wipro to ‘underweight’. The stock price target was cut to Rs. 242 from Rs. 270 earlier. Other brokerages also trimmed their expectations, pointing to slower deal conversions and weaker growth outlook compared with peers. Currently, only about 23% of analysts on Moneycontrol have given Wipro stock a ‘buy’ rating, while the majority continue to be neutral or bearish.
Wipro stood out as the biggest loser among IT stocks. Earlier in the day, it was one of the top decliners on both the Nifty 50 and the Nifty IT index, even as the broader IT index fell only around 1%. This suggests the decline was mainly driven by company-specific concerns rather than overall sector weakness.
Wipro share price chart on Moneycontrol showed a loss of 7.61% at the time of writing:
Wipro share price today, on January 19, trades at a TTM PE of about 19.5, lower than the sector average. While this may look attractive on paper, analysts believe valuations alone may not support the stock unless growth visibility improves. Wipro’s dividend yield of around 2.4% offers some comfort, but near-term volatility is likely to continue. Investors may remain cautious until there is a clear improvement in deal wins and revenue momentum.
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1. What is Wipro's share price today?
Wipro share price today was Rs. 247.15, a 7.59% decline from the previous closing price of Rs. 267.45. All trading sessions were marked by heavy selling and a downward trend in investor sentiment.
2. Why did Wipro shares fall today?
The decline in Wipro shares was chiefly caused by the announcement of expected Q4 revenue guidance of flat to 2% growth. Additionally, the stock suffered from brokerage downgrades and low deal booking concerns.
3. How much did Wipro shares fall during the day?
At one point during the trading day, shares had a sharp decline of nearly 10%, hitting an intraday low of Rs. 241.55. Later in the day, the stock bounced back but continued to trade under significant pressure.
4. What is worrying investors about Wipro’s outlook?
The majority of investors are worried about Wipro's slowing deal wins and the timing of the start of projects. Wipro's Q3 total deal booking of $3.34 billion is at its lowest level in the past 6 quarters.
5. Is Wipro stock cheap after the recent fall?
With the recent fall in Wipro stock prices, analysts believe that the stock's TTM price-to-earnings ratio of approximately 19.5 is below the average for the sector. However, they caution that valuation alone will not warrant an investment. The analysts want to see improvements in deal momentum and revenue growth before considering Wipro as an investment option.
