India’s stock market closed Tuesday with a mixed performance, the Sensex edging up slightly while the Nifty dipped. The IT sector thrived, reaching record highs, driven by rupee depreciation and positive global sentiment. However, overall investor caution prevailed ahead of crucial CPI inflation data releases in both the US and India.
Wipro’s share price has been facing a downward trend, dropping 15% from its one-year high and underperforming compared to peers like TCS and Infosys. The release of Q4 results, which showed a decline in consolidated net profit and revenue, has raised concerns among investors and analysts. Experts believe that Wipro is facing demand uncertainties and challenges in timely deal ramp-up. Despite this, the share has shown resilience compared to its 52-week low and has rebounded by over 27%. Analysts recommend cautious optimism as Wipro navigates the current market environment.
