Wipro's share price today reflects a significant downturn, with the stock trading at ₹279.85, marking a 1.32% decrease. This decline is part of a broader trend, as the company's shares have fallen 22.4% year-to-date, slightly outperforming the Nifty IT index's 24.8% drop.
Despite recent stock performance, Wipro's financials show some resilience. In the December 2024 quarter, the company reported a consolidated net profit of ₹3,353.80 crore, a 24.48% increase from the previous year. However, revenue growth remains sluggish, with only a 0.51% rise to ₹22,318.80 crore in the same period.
Analyst opinions are mixed regarding Wipro's future prospects. Out of 39 analysts, 2 have given a strong buy rating, 9 recommend buying, while 11 suggest selling the stock. The median price target has been adjusted downward by nearly 14% to ₹250, reflecting caution in the market.
From a technical standpoint, Wipro's share price today is trading above its 50-day moving average of ₹561, indicating near-term bullishness. The Relative Strength Index (RSI) stands at 54.69, suggesting a neutral to bullish sentiment.
Wipro has been proactive in strategic initiatives, including a collaboration with NVIDIA to launch new agentic AI services, aiming to empower nations in developing and deploying AI capabilities. Additionally, the company announced a 1:1 bonus issue in December 2024, its first since 2019, to reward shareholders.
Considering the current market dynamics and financial indicators, investors must weigh the potential risks and rewards. Wipro's share price today reflects market apprehension, but the company's strategic initiatives and financial resilience may offer long-term value.
Buy: If you believe in Wipro's long-term strategic direction and its investments in AI and digital transformation, current price levels may present a buying opportunity.
Ultimately, the decision to buy or sell Wipro shares should align with your investment goals and risk tolerance.
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