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Wipro shares fell after the company reported a 2% YoY decline in Q4 profit to ₹3,502 crore.
Wipro approved a ₹15,000 crore buyback despite reporting a 2% YoY decline in Q4 profit.
KEY POINTS
- Core IT services revenue grew only 0.6% QoQ and 2.1% YoY, indicating weak demand.
- Morgan Stanley and Goldman Sachs cut Wipro's target price citing continued revenue declines forecast into FY27.
- Deal bookings dropped 13% YoY in Q4, with large deal wins down 18% YoY.
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Summarized by Newsio from The Economic Times. How we summarize →