Name: Latest research reports of Wipro Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: Wipro Ltd.
Rating: 1
Author: ICICI Securities Limited

Wipro Ltd.

17 Jul 2026, 12:00AM

176.00

-0.98%

Top line decline continues

Sell: Wipro Ltd.

Recommendation Target

ICICI Securities Limited

Top-line headwinds for Wipro continue with yet another weak organic guidance of -1.5% to +0.5% QoQ CC (-1.3% organic at the midpoint, as per our estimate) for Q2FY27, implying a decline as management factored in continued macro uncertainty and geopolitical instability.

Number of FII/FPI investors decreased from 937 to 912 in Jun 2026 qtr

Tech Mahindra Ltd.

17 Jul 2026, 12:00AM

1572.90

4.14%

Strong start to FY27

Hold: Tech Mahindra Ltd.

Target

ICICI Securities Limited

With healthy revenue growth of 6.6% YoY CC in Q1FY27, TechM is likely to deliver highest revenue growth among top 5 Indian IT companies in FY27, supported by sustained strong deal TCV momentum, and scale-up in large accounts (scaled 4 accounts to USD 50mn+ annual revenue in Q1FY27).

Number of FII/FPI investors increased from 1008 to 1042 in Mar 2026 qtr.

Newgen Software Technologies Ltd.

17 Jul 2026, 12:00AM

547.55

1.03%

Back to double-digit YoY growth; resilient margin

Hold: Newgen Software Technologi...

Target

ICICI Securities Limited

Newgen reported resilient revenue growth of 11.2% YoY, exhibiting an improvement from the 5.3% print in Q4FY26, albeit below I-Sec estimate. Growth was led by healthcare + insurance and government verticals.

Newgen Software has lost -46.61% in the last 1 Year

Himadri Speciality Chemical Ltd.

17 Jul 2026, 12:00AM

741.55

2.66%

Growing list of new products and projects

Hold: Himadri Speciality Chemica...

Target

ICICI Securities Limited

Himadri Specialty Chemical (Himadri)’s Q1FY27 print continued to show expansion in value creation from its existing business, and ramp-up in Birla Tyres.

Himadri Speciality has gained 12.28% in the last 1 Week

Bharat Heavy Electricals Ltd.

17 Jul 2026, 12:00AM

422.00

-3.08%

Firing on all cylinders

Buy: Bharat Heavy Electricals Ltd.

Target

ICICI Securities Limited

BHEL has started FY27 on a strong note, with revenue growing 40% YoY. Further, it reported EBITDA of INR 5bn (vs. loss of INR 5.3bn YoY) and margins at 6.5%.

Bharat Heavy Electricals Ltd. is trading above all available SMAs

Jio Financial Services Ltd.

17 Jul 2026, 12:00AM

242.98

3.11%

Steady execution across businesses!

Buy: Jio Financial Services Ltd.

Motilal Oswal

Jio Financial Services (JIOFIN)’s 1QFY27 NII grew ~106% YoY to INR5.4b (37% beat). Other income grew 306% YoY to INR10.4b, which included dividend income of INR5.1b (which was typically received in 2Q of the previous fiscal years) and investment income of ~INR2.1b (PY: INR2b).

Jio Financial Services Ltd.'s price crossed above 50Day SMA today

South Indian Bank Ltd.

17 Jul 2026, 12:00AM

44.60

-1.74%

Healthy performance continues; profitability to remain strong; BUY

Buy: South Indian Bank Ltd.

Target

Anand Rathi

South Indian Bank delivered a healthy performance for another quarter, with continued improvement in growth, profitability and asset quality.

South Indian Bank Ltd. is trading above its 200 day SMA of 39.8

Jio Financial Services Ltd.

17 Jul 2026, 12:00AM

242.98

3.11%

Result Update- Q1FY27

Accumulate: Jio Financial Services Ltd.

Recommendation Target

Deven Choksey

Consolidated PAT stood at INR 830 Cr, up 156% YoY and 205% QoQ, largely driven by a one time dividend of INR 509 Cr arising from the RSHL step down consolidation.

Jio Financial Services Ltd. is trading above its 100 day SMA of 240.5

Wipro Ltd.

17 Jul 2026, 12:00AM

176.00

-0.98%

AI Expanding The Addressable Market While Capital Returns Compound Shareholder Value

Buy: Wipro Ltd.

Recommendation Target

Deven Choksey

Revenue growth to remain range bound near term with Q2 guided at minus 1.5% to plus 0.5% CC. Americas BFSI deal ramps and Europe EMR wins entering delivery should provide sequential improvement from Q3.

Wipro has lost -32.46% in the last 1 Year

Tech Mahindra Ltd.

17 Jul 2026, 12:00AM

1572.90

4.14%

From Turnaround to Structural Growth

Accumulate: Tech Mahindra Ltd.

Target

Deven Choksey

Revenue growth to hold within management's high single digit aspiration for FY27 as large deal ramp ups in comms and healthcare come through from Q2. Manufacturing should sustain on aerospace momentum even after the European auto pull forward reverses.

Tech Mahindra Ltd. is trading at high day volume of 10.6M.