Wipro Share Price: Shares fell more than 6% on weak results, this is the strategy of experts on investment – wipro share price down after it major profit decline in fy23q2 should you buy or sell stock know here what experts suggest

Wipro Share Price: The second quarter of the current financial year 2022-23 July-September 2022 was disappointing for the IT sector giant. Its profit fell 9.27 per cent to Rs 2659 crore in the September 2022 quarter. The company’s revenue also declined by 14.60 on a year-on-year basis to Rs 22,539.7 crore. Wipro has forecast a growth of 0.5-2 per cent in revenue.

Wipro Q2 Result: Profits fall 9% to Rs 2,659 crore

The effect of weak results is visible on its shares in the market today. Its shares slipped to a price of Rs 381.50 in intra-day on BSE today with a fall of more than 6 per cent. In such a situation, what the brokerage firms have to say about investing is being told below.

Wipro gave promotion to 10,000 employees in the second quarter, there was a reduction in the number of people leaving the company by giving design

Hong Kong-based institutional brokerage and investment group CLSA has outperformed Wipro and has fixed a target price of Rs 450 for investments in it. CLSA expects Q2 results to be in line with the general growth outlook but valuations continue to support the stock. CLSA has cut its FY2023 EPS (earnings per share) estimate by 4 per cent and FY24 EPS by 1 per cent for Wipro.

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Swiss bank UBS has given neutral rating to Wipro and has fixed its target price at Rs 420. According to UBS, the situation is not looking any better, at least not in the near term. According to UBS, the consulting segment is facing pressure due to economic slowdown.

Disclaimer: The advice or views given on moneycontrol.com are the personal views of the expert/brokerage firm. Website or Management is not responsible for this. Moneycontrol advises users to always consult a certified expert before taking any investment decision.

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