Wipro shares crash 10% on weak Q4 revenue outlook, lacklusture deal wins

Shares of Wipro slid 10 per cent on Monday after the company issued a weak fourth-quarter revenue outlook and reported lacklustre deal ‍wins ⁠weighed on sentiment, further denting the stock for steepest fall since July 2024.

The IT services firm was trading at 248.75 rupees, making it the biggest percentage loser on both the benchmark Nifty 50 and the IT index, which declined 0.5% and 1%, respectively.

Wipro said it expects fourth-quarter revenue to be flat to up 2 per cent sequentially, including contributions from acquisitions. Total deal bookings in the third quarter came in at $3.34 billion, marking the lowest level in six quarters.

According to Jefferies analysts, softer deal wins and delays in project ramp-ups contributed to the weaker-than-expected growth outlook for the March quarter.