Wipro Shares Drop 2.9 Percent on Weak Revenue Forecast
Wipro shares fell 2.9% on Friday as the company issued a weak revenue forecast for the current quarter. The IT firm became the top loser on the Nifty 50 index.
Shares of WIPRO LTD fell by 2.9% on Friday after the company issued a revenue outlook for the current quarter that fell short of analyst expectations. The cautious guidance from the major technology services provider in India has renewed concerns regarding growth visibility and the sustainability of profit margins in a tightening market.
The stock emerged as the leading decliner on the sectoral IT index and was also the top loser on the benchmark KOTAK NIFTY 50. Market sentiment remains sensitive to the performance of large-cap IT firms as they navigate global macroeconomic headwinds and shifting client spending patterns.
