– Wipro’s shares fell 8% after reporting Q1 earnings
– Consolidated net profit rose 5.21% YoY
– Revenue fell 3.79% to Rs 21,963.80 crore
– IT service revenue came in at Rs 21,896 crore
– Stock price fell to Rs 513.35 on BSE
– Wipro sees September quarter revenue from IT Services segment at $2,600 to $2,652 million
– Brokerages have mixed views on the stock, with targets ranging from Rs 557 to Rs 500
– Wipro’s investments in AI and consulting are seen as positives for future growth according to Choice Broking
– Motilal Oswal has a neutral rating on the stock and has cut its price target by 10%