Wipro shares slide over 4% after Q2 results; Jefferies calls risk-reward ‘unattractive’
Shares of Wipro Ltd dropped 4.4% to ₹242.8 on Friday following the company’s September quarter (Q2 FY2026) earnings, which were announced after market hours on Thursday. The stock’s decline mirrors a 2.5% fall in its US-listed ADRs overnight.
Analysts remain divided on the IT major’s outlook, News.Az reports, citing CNBC.
Of the 47 analysts tracking the stock, 16 have a “sell” rating, 18 recommend “hold,” and 13 suggest “buy.”
Analyst Reactions
Nomura retained its “buy” rating on Wipro with a target price of ₹280, implying a potential 10% upside. The brokerage said Q2 results were better than expected on most metrics, citing steady deal wins and the company’s ability to maintain EBIT margins despite macroeconomic pressures. Nomura also highlighted Wipro’s FY27 dividend yield of 4% and valuation of 19.8x FY27 estimated EPS.
Meanwhile, Jefferies maintained an “underperform” rating with a target price of ₹220, signaling a possible 13% downside. The firm said Wipro’s adjusted results were broadly in line with expectations, but called the risk-reward “unattractive”, expecting EPS growth at a modest 3% CAGR between FY26 and FY28, alongside a 3% dividend yield.
Wipro guided for Q3 revenue growth in the range of -0.5% to +1.5% (constant currency), excluding contributions from its planned acquisition of Harman Digital Transformation Solutions.
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