Wipro shares hit 52-week low, down 38% this year; more pain likely on IT counter?

Shares of Wipro Ltd are in a downtrend, falling 38% this year. The weak sentiment in the IT stock has brought it near the oversold zone, with its RSI falling to 30.7. An RSI value below the 30 mark indicates the stock is oversold on charts. Wipro shares are stuck in a strong bear grip, trading below all the short term and long term moving averages.

Shares of Wipro have witnessed a hit in investment sentiment marred by a miss in Q1 earnings estimates.  Wipro released a forecast of second-quarter revenue of $2.57 billion to $2.63 billion, a 1.5% decline to 0.5% growth from the quarter ended June. Analysts had anticipated guidance of between a 1% fall and a 1% increase.

In Q1, total deal wins for Wipro fell to $3.37 billion from $5 billion a year ago.

The IT stock slipped to a 52-week low of Rs 166.30 in the current session. Market cap of Wipro declined to Rs 1.64 lakh crore.

According to a Choice Equities report, Wipro posted a Compound Quarterly Growth Rate (CQGR) of 0.6% in terms of BFSI revenues of major IT companies, second lowest in the industry only after -0.6% by LTI Mindtree. Wipro was worst performer in terms of 8 quarter CQGR at 0% in terms of BFSI revenues of major IT companies.

Choice has a Reduce call on the stock with a target price of Rs 170.

Brokerage firm JPMorgan has retained its 'Underweight' rating on the IT services company with a price target of Rs 155 per share. The brokerage cited AI-led pricing pressure, productivity pass-throughs and subdued net growth behind its bearish stance on the IT stock.

Wipro Q1 earnings 

Gross revenue came at Rs 24,480 crore, rising 1.0% QoQ and 10.6% YoY. However, IT services segment revenue slipped 1.4% to $2,614.5 million on a QoQ basis and increase of 1% YoY.

Profit slipped 4.3% to Rs 3352 crore in Q1 against Rs 3502 crore in the March 2026 quarter. The firm also announced an interim dividend Rs 2 per equity share of par value Rs 2 each.