The IT services firm was trading at ₹248.75, emerging as the biggest percentage decliner on both the benchmark Nifty 50 and the IT index, which fell 0.5% and 1%, respectively.
Wipro shares slid 10% on Monday as a soft Q4 revenue forecast and lacklustre deal wins weighed on investor sentiment, marking the stock’s steepest decline since July 2024.
The IT services firm was trading at ₹248.75, emerging as the biggest percentage decliner on both the benchmark Nifty 50 and the IT index, which fell 0.5% and 1%, respectively.
Wipro said it expects fourth-quarter revenue to be flat to up 2% sequentially, including the impact of acquisitions. Total deal bookings for the third quarter stood at $3.34 billion, the lowest level recorded in the past six quarters.
According to Jefferies analysts, softer deal wins coupled with delays in project ramp-ups led to a weaker-than-expected growth outlook for the March quarter.
Wipro’s American depositary receipts slid as much as 7.2% on Friday following the release of its third-quarter results.
The subdued outlook from Wipro stands in sharp contrast to larger peers Tata Consultancy Services and Infosys, both of which reported steady deal wins and stronger-than-expected revenue growth despite the seasonally weak third quarter.