Wipro’s stock has been on a roller coaster ride in 2024. Despite a 12% drop in Q3 net profit, the share price surged in early January, reaching a new 52-week high. This rally was fueled by positive market sentiment in the US and optimism surrounding Wipro’s strategic moves, like big deals and a potential consulting revival.
However, the recent weeks have seen a slight decline in the stock price. Analysts remain divided. Some, like CLSA, are cautious due to concerns about Wipro’s market share compared to peers. Others point to the company’s inexpensive valuation and strong dividend yield as reasons for optimism.
While the short-term outlook is uncertain, Wipro’s long-term prospects hinge on the successful execution of its refreshed strategy. Investors will be closely watching the company’s ability to navigate challenges and capitalize on growth opportunities in the ever-evolving IT landscape.
