Wipro Ltd. share price target

Region-wise, Americas-1 grew 8.3% YoY to 7,984cr, supported by strength in consumer, technology and communications. Americas-2 declined 1.9% to 6,729cr, impacted by slower deal ramp-ups in BFSI and client-specific issues,...

Top-line headwinds for Wipro continue with yet another weak organic guidance of -1.8% QoQ CC at the midpoint for Q1FY27. The disconnect between deal bookings growth and revenue growth could be due to higher AI-led deflation and market share loss.

Wipro is undergoing a deliberate structural shift to move beyond a traditional linear headcount-to-revenue services model toward a "services as a software" approach.

4Q disappointed on revenue growth (0.2% QoQ against expected 2%) but +vely surprised on margins. Top client and weak ramp up issues

We maintain a HOLD rating on the stock.

Wipro reported a muted Q4FY26 performance, reflecting ongoing macro uncertainty and client-specific execution delays. IT services revenue stood at USD 2.65bn, up by 0.2% QoQ, indicating weak demand conversion despite a resilient pipeline. EBIT margin declined 30 bps QoQ to 17.3% (IT Services), impacted by wage hikes, deal ramp costs, and investments in AI-led capabilities, though FY26 margins improved marginally on YoY basis. Deal wins remained healthy at USD 3.5bn with 14 large deals (USD 1.4bn), but delayed ramp-ups especially in Americas 2 BFSI which continue to weigh on near-term growth. Management...

Wipro (WPRO) reported 4QFY26 IT Services revenue of USD2.6b, up 0.2% QoQ CC, below our estimate of 1.0% QoQ growth. It posted an order intake of USD3.5b (up 3.5% QoQ), with a large-deal TCV of USD1.4b (down 18% YoY).

Organic weakness leads to muted growth in Q4 Rev. guidance of -2% to 0% QoQ CC for Q1FY27 Wipro reported Q4 revenue growth of +0.2% QoQ CC, below our and consensus estimates of +0.8% QoQ CC. Harman DTS integration contributed ~1.5% QoQ in Q4 (our estimates). The weakness was driven by multiple headwinds in the organic business in America region, including slower deal ramp-ups & client-specific issues in BFSI, and a sharp decline in the Healthcare segment due to seasonality and policy changes. FY26 deal wins at USD 16.4b were strong YoY compared to FY25, with a...

Wipro has secured a large 8-year strategic transformation deal with Olam Group. The contract is expected to exceed USD1bn in total value, including a committed spend of USD800mn (annual spend of USD100mn; ~55-60% of total annual spend by Olam Group on tech and shared services).

*over or under performance to benchmark index Consolidated revenue increased 5.5% YoY to Rs. 23,556cr in Q3FY26 owing to growth in all segments. Revenue from the BFSI sector increased 6.2% YoY, health...

Management expects near-term growth to remain muted, with Q4FY26 IT Services revenue guided at 0–2% QoQ in constant currency, reflecting cautious client spending and deal ramp-up delays.

Wipro is slowly stabilizing after a long weak phase, but the recovery is gradual. Q3 FY26 showed modest improvement with 1.4% QoQ revenue growth in CC term, driven by better traction in BFSI, healthcare, Europe, and APMEA, while consumer and EMR remain soft due to macro uncertainty and delayed client spending. Operating margin improved to 17.6%, supported by tight cost control, restructuring benefits, and lower attrition, though near-term margin upside may be limited due to wage hikes, integration costs from the Harman DTS acquisition, and continued investments in growth. Deal momentum remains healthy with USD...

We maintain a HOLD rating on the stock.

Unlike some of its immediate peers who reported in 3Q, Wipro's commentary on demand and on deal ramp-ups sounded cautious

Wipro reported soft organic revenue growth of 0.6% QoQ CC in Q3FY26. Guidance for Q4FY26 also implies weak revenue growth of -1.6% to 0.5% QoQ CC due to delayed ramp-up of large deals won in previous quarters and lower working days.

Wipro (WPRO) reported 3QFY26 IT Services revenue of USD2.6b, up 1.4% QoQ CC, in line with our estimate of 1.5% QoQ growth. It posted an order intake of USD3.3b (down 30% QoQ), with a large-deal TCV of USD0.9b (down 6.2% YoY).

Continued business momentum reflected in total and large deal TCV and adjusted EBIT margin. Closer to industry matching growth in FY26

Wipro Limited reported Q2FY26 IT services revenue of USD 2.6bn, with 0.3% sequential growth in constant currency and a 17.2% adjusted operating margin, reflecting operational discipline despite one-off impacts. Americas 1 and Europe markets grew sequentially, supported by BFSI, healthcare, and technology sectors. The company closed USD 4.7bn in contract value with 13 large deals, including two megadeals in healthcare and BFSI, driven by AI-powered transformations and vendor consolidations. Wipro launched "Wipro Intelligence," a unified AI platform suite accelerating client digital transformation...

Wipro’s valuation remains supported by improving deal momentum, steady margin discipline, and consistent cash generation.

We recommend a HOLD rating on the stock.