{"id":68198,"date":"2022-10-14T13:59:00","date_gmt":"2022-10-14T08:29:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=68198"},"modified":"2022-10-14T13:57:11","modified_gmt":"2022-10-14T08:27:11","slug":"what-should-investors-do-after-wipros-q2-results-check-the-latest-targets","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/what-should-investors-do-after-wipros-q2-results-check-the-latest-targets\/","title":{"rendered":"What should investors do after Wipro\u2019s Q2 results?\u00a0Check the latest targets"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3924667187\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of IT major Wipro Ltd. tanked more than 7% in the early hours of trading on Thursday. The stock of Wipro hit its new 52-week low of Rs. 380 per share. It has declined 47% in value since the start of this year. As of 11:30 IST on Friday, the shares were trading at Rs. 384 a piece.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4163593157\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The company announced its second quarter (June to September) results for the financial year 2022-23 yesterday. It clocked 12.9% year-on-year (Y-o-Y) growth in IT services sales in constant currency terms during the quarter. The segment\u2019s earnings before interest and taxes (EBIT) dropped 1.8% to Rs. 3,380 crores from Rs. 3,441 crores it registered during the same period last year.\u00a0<\/p><p>However, during the same period, its operational figures metrics suffered a drop. The net profit fell 9.6% from Rs. 2,930 crores last year (Q2FY22) to Rs. 2,649 crore.\u00a0<\/p><p>All this comes on the heels of a slowdown in the US and Europe markets which account for a primary share of Wipro\u2019s revenues. Akshara Bassi of Counterpoint Research commented, \u201cMost of the growth in Wipro\u2019s IT services revenues seem to be coming off the back of previous order completions.\u201d&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-3523269533\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>In addition to this, she noted, \u201cTheir new order bookings for the September quarter are not particularly strong on IT services, and other sectors such as healthcare and pharma in markets such as the European Union and North America seem to be the key drivers this quarter.\u201d\u00a0<\/p><p>Market analysts have given mixed comments on the future performance of Wipro. For instance, Nomura cut its FY23-24 earnings per share estimates by 3-5% and gave a \u2018neutral\u2019 call on the stock with a price of Rs. 380.&nbsp;<\/p><p><strong>Analysts at JP Morgan have a negative outlook on the stock with an underweight call with a target price of Rs. 360 per share, suggesting a drop of 5.26% from the present levels.\u00a0<\/strong><\/p><p><strong>However, UBS\u2019 \u2018neutral\u2019 call at Rs. 420 per share still offers potential gains of 10% for the investors. This is further strengthened by the bullish outlook the brokerage house HDFC Securities has maintained with its \u2018add\u2019 call on Wipro stock. Its analysts see a 21% upside with a target price of Rs. 460 on the back of growth in IT services.\u00a0<\/strong><\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written By &#8211; Vikalp Mishra <\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-3747560125\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of IT major Wipro Ltd. tanked more than 7% in the early hours of trading on Thursday. The stock of Wipro hit its new 52-week low of Rs. 380 per share. It has declined 47% in value since the start of this year. As of 11:30 IST on Friday, the shares were trading [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":15209,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1513,31],"tags":[4437,602,3913,3912,948,936,3153,4178,4183,3157,3158,4435,4434,4381,4201,4436,4200],"class_list":["post-68198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-editor-pick","category-news","tag-future-of-wipro","tag-market-cap-of-wipro","tag-multibagger-stock-to-buy","tag-multibagger-stock-to-watch","tag-stock-market","tag-stock-market-news","tag-stock-to-buy","tag-stock-to-buy-in-2022","tag-stock-to-trade","tag-stock-to-watch","tag-stock-to-watch-in-2022","tag-why-is-wipro-falling","tag-wipro","tag-wipro-results","tag-wipro-share-price","tag-wipro-share-price-target","tag-wipro-targets"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What should investors do after Wipro\u2019s Q2 results?\u00a0Check the latest targets - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/what-should-investors-do-after-wipros-q2-results-check-the-latest-targets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What should investors do after Wipro\u2019s Q2 results?\u00a0Check the latest targets\" \/>\n<meta property=\"og:description\" content=\"The shares of IT major Wipro Ltd. tanked more than 7% in the early hours of trading on Thursday. 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