Wipro Share Price Target After Q4 Results; What Brokerage Firms Say On Stock?

Wipro stock price went up on, 19 Apr 2024, by 1.92 %. Wipro stock closed at ₹452.85 on 19th April 2024, with a net change of ₹8.55 and a percent change of 1.92 from the previous day's closing price of ₹444.3.

Written by: Anirudha Yerunkar Edited by: Anirudha Yerunkar

Published: April 22, 2024, 10:09 AM IST

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https://www.india.com/business/wipro-share-price-target-after-q4-results-what-brokerage-firms-say-on-stock-6876582/ Copy

Wipro Q4 Results 2024: Wipro on 19th April reported a 7.8 per cent year-on-year drop in its consolidated net profit to Rs 2,834.6 crore for the March quarter. However reported a 5.2 per cent quarter-on-quarter increase in consolidated net profit for the January-March period.

The company’s revenue from operations was down 4.2 per cent on-year to Rs 22,208.3 crore, according to an exchange filing.The net profit (attributable to equity holders of the company) declined to Rs 2,834.6 crore in Q4FY24 from Rs 3,074.5 in the year-ago period, translating into a 7.8 per cent fall.

Srini Pallia, CEO and Managing Director of Wipro said, “FY24 proved to be a challenging year for our industry, and the macroeconomic environment remains uncertain. However, I am optimistic about the opportunities that lie ahead. We are on the brink of a major technological shift.”

Wipro Share Price Target

Morgan Stanley assigned Underweight rating with a share price target of Rs. 421.

Jefferies gave Underperform rating with share price target of Rs.400.

JP Morgan assigned a Neutral rating with a share price target of Rs.480.

HSBC gave an underperform rating with share price target of Rs.385.

Nomura gave Underperform rating with share price target of Rs.410.

Wipro Guidance For FY25

Wipro has given sequential guidance of (-) 1.5 per cent to +0.5 per cent in constant currency for IT services revenue, for the April-June quarter. The company said in its outlook for the first quarter of 2024-25, said that they expect revenue from the IT services business segment within the range of USD 2,617 million to USD 2,670 million.

Wipro Share On 19th April 2024

Wipro stock price went up on, 19 Apr 2024, by 1.92 %. Wipro stock closed at ₹452.85 on 19th April 2024, with a net change of ₹8.55 and a percent change of 1.92 from the previous day’s closing price of ₹444.3.