BUZZ-India's Wipro slumps on dour Q4 outlook, tepid Q3 earnings

Reuters01-19
BUZZ-India's Wipro slumps on dour Q4 outlook, tepid Q3 earnings

** India's fourth-largest IT services firm Wipro WIPR.NS falls 8.3% to 245 rupees

** WIPR biggest loser on the benchmark Nifty 50 index .NSEI, which is down 0.42%

** Co on Friday posted a 7% Y/Y fall in profit, missing expectations

** WIPR also forecast weaker-than-expected revenue growth for Q4

** Ambit Insights ("Sell", PT at 227 rupees) says co disappointed on growth, Q4 forecast

** CLSA ("hold", cuts PT to 231 rupees from 237 rupees earlier) says dismal quarter for co; weaker-than-expected Q4 forecast and order book, soft organic rev growth and weak top client rev growth

** WIPR rated "hold" on avg by 41 analysts; median PT at 268 rupees - data compiled by LSEG

** In 2025, WIPR lost around 13%

(Reporting by Komal Salecha in Bengaluru)

((Komal@thomsonreuters.com))

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