Wipro Share Price: Shares of Wipro, the Indian IT giant, are expected to remain in focus on Friday, October 16, after the company reported its September-quarter results, with brokerages flagging concerns over order intake and certain business segments.
The stock settled 1.8 per cent, or Rs 3.13, higher at Rs 174.05 in the previous trading session. It touched a high of Rs 174.69 during the session.
Following the results, Emkay maintained its REDUCE rating on Wipro with a share price target of Rs 170, while DAM Capital retained its NEUTRAL rating with a target of Rs 180.
Wipro Q2 Results
Wipro’s consolidated net profit attributable to the owners of the company stood at Rs 3,200.6 crore in Q2 FY27, compared with Rs 3,246.2 crore in the corresponding quarter of the previous year.
Revenue from the company’s IT services business stood at USD 2,611.5 million, unchanged sequentially and up 0.3 per cent year-on-year.
Wipro’s revenue from operations rose 9.1 per cent to Rs 24,752.7 crore in the September quarter, compared with Rs 22,697.3 crore in Q2 FY26.
For the October-December quarter, Wipro expects IT services revenue in the range of USD 2,571-2,625 million. This translates into a sequential change of (-) 1.5 per cent to (+) 0.5 per cent in constant currency.
Wipro Share Price Target 2026
Emkay maintains REDUCE
Emkay has maintained its REDUCE rating on Wipro with a share price target of Rs 170. The brokerage valued the IT stock at 12 times its September 2028 estimated earnings per share (EPS).
The target price implies a downside of 2.3 per cent from the stock’s previous closing price of Rs 174.05.
Emkay said Wipro reported a steady operating performance in the September quarter. IT services revenue declined 0.1 per cent quarter-on-quarter to USD 2.61 billion, while operating margin improved 50 basis points to 16.5 per cent.
However, the brokerage flagged weak order intake and softness in the healthcare and technology and communications segments. Emkay also cut its FY27-29 EPS estimates by 0.4-1.3 per cent.
DAM Capital on Wipro
DAM Capital has maintained a NEUTRAL rating on Wipro with a share price target of Rs 180. The target price implies an upside of 3.41 per cent from the stock’s previous closing price of Rs 174.05.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)