Wipro Shares Rise 5%, Up 15% So Far in October – Should You Buy This IT Stock After Q2 Results? Experts Suggest
- October 16, 2026
- Posted by: Chaitanya Auti
- Category: News
Wipro shares rose about 1.7% to Rs 176 in early trade on 16 Oct 2026, with a high of Rs 177. The headline’s 5% rise and 15% gain in October are unverified. Brokerages are split: Dam Capital Neutral (Rs 180), PL Capital Hold (Rs 166, raised from Rs 154) and Nirmal Bang Sell (Rs 143). Q2 profit was Rs 3,200 crore against Rs 3,246 crore a year earlier, and IT services revenue grew only 0.3%.
Quick Answer
Wipro shares rose about 1.7% to Rs 176 in early trade on 16 October 2026, a day after Q2 FY27 results showed profit of about Rs 3,200 crore and revenue of Rs 24,753 crore, up 9.1%. Brokerages are mixed: Dam Capital rates the stock Neutral with a target of Rs 180, PL Capital rates it Hold at Rs 166, raised from Rs 154, and Nirmal Bang rates it Sell at Rs 143. I could not verify the headline’s 5% rise or the 15% gain in October, and the headline also says profit fell 1.9% while my calculation gives 1.4%. Growth in IT services was only 0.3% year on year, so the rally rests on the buyback and hopes of delayed deals closing in Q3.
Wipro shares have gained strongly this month as the IT sector bounced, helped by the Nifty IT rally earlier in the week. The Q2 numbers behind Wipro shares were mixed, with margins up but growth near zero.
This guide sets out the brokerage views, the Q2 numbers behind them, the upside and downside at the current price and the risks. It is educational and not a recommendation.
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Wipro Shares: Brokerage Ratings and Target Prices
| Brokerage | Rating | Target price | View |
|---|---|---|---|
| Dam Capital | Neutral | Rs 180 | About 3% upside; expects flat FY27 revenue and weak Q3 guidance |
| PL Capital | Hold | Rs 166 (from Rs 154) | Revenue growth flattish but ahead of its estimate; two delayed deals may help Q4 |
| Nirmal Bang | Sell | Rs 143 | Sharply lower bookings and slipped deals; growth case weakened |
Business Standard says the label of brokerages remaining bearish is only partly accurate, because PL Capital raised its target and Dam Capital sees some upside. Nirmal Bang is the only one of the three that implies a meaningful fall for Wipro shares.
Risk: Only three brokerage views on Wipro shares are verified here, so the wider street view may differ.
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Upside and Downside for Wipro Shares at Rs 176
| Brokerage target | Versus Rs 176 (my calculation) |
|---|---|
| Dam Capital, Rs 180 | Up 2.3% |
| PL Capital, Rs 166 | Down 5.7% |
| Nirmal Bang, Rs 143 | Down 18.8% |
The average of the three targets is about Rs 163, which is about 7.4% below Rs 176 (my calculation). A simple average of three views is not a consensus, but it shows that none of the brokerages sees a big gain.
The headline says Wipro shares are up 15% in October. If Rs 176 is a 15% gain, the 1 October price would be about Rs 153 (my calculation), but I could not verify the October starting price.
Risk: Wipro shares, after rising sharply in a month with no growth upgrade, can give back gains quickly.
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Wipro Q2 FY27 Results: What the Numbers Show
| Metric | Q2 FY27 | Note |
|---|---|---|
| Net profit | About Rs 3,200 crore | Down 1.4% on my calculation (Rs 3,200.6 crore against Rs 3,246.2 crore); the headline says 1.9% |
| Revenue from operations | Rs 24,752.7 crore | Up 9% from Rs 22,697.3 crore |
| IT services revenue growth | Up 0.3% year on year; flat in constant currency from the previous quarter | Weak growth |
| Margin | 16.5% | Below the 17% to 18% aspiration |
| Q3 guidance | $2,571 million to $2,625 million | Around flat |
Revenue in rupees rose 9% largely because of the weaker rupee, while IT services growth in dollars was near zero. Brokerages point to soft deal wins, weak US healthcare and weakness in Healthcare and Tech and Comms, with growth in Consumer and BFSI.
Wipro has also returned Rs 17,029 crore to holders in H1 through a buyback and dividend, which lowered interest income. Our separate article covers that payout.
Risk: Lower interest income after the buyback means profit growth depends on operations.
Should You Buy Wipro Shares After Q2? What Each View Assumes
| View | Assumes | Risk to the view |
|---|---|---|
| Neutral (Dam Capital) | Fair value near Rs 180 with weak growth | Guidance proves weaker |
| Hold (PL Capital) | Delayed deals close in Q3 or Q4 | Deals slip again |
| Sell (Nirmal Bang) | Deal conversion keeps lagging peers | Large deals ramp faster |
None of the three calls is a Buy, and the price is above two of the three targets. Investors who already hold Wipro shares might weigh the buyback support and the margin gains against the weak growth.
What to Watch Next
- Whether the two delayed deals close in Q3, a key driver for Wipro shares
- Q3 revenue against guidance of $2,571 million to $2,625 million
- The margin against the 17% to 18% range
- Further brokerage notes and target changes for Wipro shares
- Large deal wins and growth in healthcare
Conclusion
Wipro shares have moved above two of the three verified brokerage targets, and none of the three rates it a Buy. The rally leans on margins and hopes for delayed deals, so it is a stock to watch for deal conversion before acting.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
What is the Wipro share price after Q2 results?
Ans. Wipro shares rose about 1.7% to Rs 176 in early trade on 16 October 2026, with a high of Rs 177.
What are the Wipro target prices?
Ans. Dam Capital has a Neutral with Rs 180, PL Capital a Hold with Rs 166 (from Rs 154) and Nirmal Bang a Sell with Rs 143.
Are Wipro shares up 15% in October?
Ans. The headline says so, but I could not verify the October starting price, so treat it as unconfirmed.
What were the Wipro Q2 FY27 results?
Ans. Net profit was about Rs 3,200 crore, revenue was Rs 24,752.7 crore, up 9%, and IT services revenue grew 0.3% year on year.
Should I buy Wipro shares after Q2?
Ans. Brokerages are split, and none of the three verified calls is a Buy. This article is not a recommendation.
What is the Wipro Q3 guidance?
Ans. Wipro guided IT services revenue of $2,571 million to $2,625 million.
What are the risks of Wipro shares?
Ans. Soft deal wins, weak US healthcare, lower interest income after the buyback and margins below the 17% to 18% range.
Is this article investment advice?
Ans. No. It is educational and not a recommendation to buy or sell.