Brokerages downgrade Wipro, cut targets on weak Q4, muted outlook

Brokerages have downgraded their ratings on Wipro and lowered their price targets after the IT services provider reported weaker-than-expected revenue for the March quarter and issued a muted revenue outlook for the first quarter of FY26, citing macroeconomic uncertainties and client caution.

Nuvama Institutional Equities downgraded Wipro to ‘Hold’ and cut its target price to `260 from `300. The brokerage said: “With the rapid deterioration of macro, leading to uncertainty around discretionary spends and Wipro’s valuation becoming similar to peers TCS, Infosys and HCLTech – the brokerage does not see either of the two premises holding up any longer.”