Anil Singhvi recommends selling this IT stock after disappointing guidance: Check stop loss and target
Wipro: Citing weak earnings and a disappointing guidance, market wizard Anil Singhvi has turned bearish on IT pack.
)
02:23 PM IST
Wipro Target Price, Wipro Share Price, Anil Singhvi View on Wipro Shares Post-Q4 Earnings: Bengaluru-headquartered IT major Wipro's shares session fell sharply on Thursday after the company posted a mixed set of Q4 earnings. For the quarter under review, the company's consolidated net profit rose over 6 per cent to Rs 3,569.6 crore. Its topline rose by a marginal 0.8 per cent QoQ to Rs 22,504.2 crore. However, revenue in dollar terms declined 1.2 per cent and came in at Rs 259.7 crore.
The Wipro stock plunged as much as 6 per cent to Rs 232.15 apiece on BSE.
Wipro's Q1FY26 revenue guidance
Mentioning global uncertainties, the IT major's CEO guided for revenue of $2,505 million to $2,557 million from IT services segment, which translates to a decline ranging from 3.5 per cent to 1.5 per cent in constant currency terms.
Here's market guru Anil Singhvi take on Wipro Q4FY25 earnings
Zee Business Managing Editor Anil Singhvi noted that the Bengaluru-based IT services major presented a weak set of Q4 earnings, with guidance being all the more weak. The market wizard pointed that Wipro's earnings signal bleak prospects for high-revenue IT companies in the US.
After the company's quarterly show, Wipro American Depository Receipt or ADR fell 3 per cent - pointing at still weaker performance in the domestic market today.
Likewise, as feared, the stock tumbled sharply and weighed on the Nifty IT index which was down over 2 per cent.
What should investors do with IT stocks?
Singhvi advises investors to completely refrain from IT stocks and not engage in any kind of buying in them.
What to do with Wipro stock after Q4FY25 earnings?
Anil Singhvi as part of his Stock of the Day pick has recommended to 'sell' Wipro futures for a target of Rs 240, 235, 232 - implying losses of more than 6 per cent. The stop loss prescribed is Rs 250 per share.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
)
)
)
)
)
)
)
)
Wipro tanks over 6% as brokerages slash ratings post weak Q4 show; should you buy, sell or hold?
Wipro Q4 Results: Net profit jumps 25.9% YoY to Rs 3,570 crore; books large deal wins worth $1.76 billion
Nifty IT slides deeper into bear market; Citi warns of poor growth for TCS, Wipro, Tech Mahindra
Wipro bags multi-million dollar deal from Etihad Airways for IT transformation
Indian tech titans TCS, Infy, HCLTech, others shine in Brand Finance's top IT services brands list
