Why Is Wipro Share Price Falling? Key Reasons & Wipro Share Price Target 2026

Wed Apr 01 2026

Click Here — Get Free Investment Predictions from SEBI-Registered Analysts

Wipro share price is falling primarily because of weak revenue guidance, slowing deal wins, and margin pressure that have shaken investor confidence in the IT major’s near-term growth trajectory. Wipro’s Q3 FY26 results showed net profit declining 7% year-on-year to Rs.3,145 crore, even as revenue grew marginally. More critically, the company guided for Q4 FY26 IT services revenue growth of just 0–2% in constant currency terms — significantly below Street expectations — and Q1 FY26 guidance came in at a steep -3.5% to -1.5% sequential decline. This is not just a Wipro-specific issue: it reflects the broader Indian IT sector’s struggle with delayed client decision-making, US tariff uncertainty, and the slow conversion of an otherwise healthy deal pipeline into actual revenue.

As of April 1, 2026, Wipro trades around Rs.191 on NSE — down approximately 28% over the past year and significantly underperforming both the Nifty 50 and the Nifty IT index. The 52-week high was Rs.321 and the 52-week low is approximately Rs.185.

Table of Contents

About Wipro Limited

Wipro Limited is India’s fourth-largest IT services company by revenue, headquartered in Bengaluru with operations in over 65 countries. The company provides IT services, consulting, and business process services across verticals including BFSI, healthcare, energy, manufacturing, consumer, and communications. Wipro has approximately 2,34,000 employees globally and reported annual revenue of approximately $10.8 billion in FY25. The company has a 75-year operating history and is a constituent of the Nifty 50 index.

Wipro share price data — CMP, 52-week range, analyst targets April 2026

Why Is Wipro Share Price Falling? — 6 Key Reasons

Tap to Access Best Research Pieces on Wipro at Univest

1. Weak Q4 FY26 and Q1 FY26 Revenue Guidance**

The single biggest trigger for Wipro’s sustained fall is its guidance disappointment. For Q4 FY26, management guided for 0–2% sequential constant currency (CC) revenue growth — the midpoint was at 1%, well below the Street’s expectation of approximately 2% CC growth. This was damaging enough. But Q1 FY26 guidance was even worse: the company guided for a sequential revenue decline of 3.5% to 1.5% in CC terms, citing US tariff uncertainty causing clients to defer decision-making — particularly in the consumer and manufacturing sectors.

This marks what could be the third consecutive year of revenue decline for Wipro in constant currency terms. When the most visible forward indicator — guidance — consistently disappoints, institutional investors reduce position sizing, triggering sustained price pressure.

2. Net Profit Down 7% YoY in Q3 FY26**

Wipro’s Q3 FY26 consolidated net profit fell 6.5% year-on-year to Rs.3,145 crore, from Rs.3,366 crore in Q3 FY25. On a sequential basis, it declined 3.5% from Rs.3,262 crore in Q2 FY26. The decline was partly triggered by India’s new labour code implementation, which created a one-time charge. While operating cash flow remained strong at $474 million (cash flow to net income ratio of 135.4%), the market is focused on earnings trajectory — not cash generation alone.

3. Deal Bookings and Conversion Slowdown**

Total deal bookings for Q3 FY26 were $3.3 billion — down 5.7% year-on-year in CC terms, and down a significant 29% quarter-on-quarter. Large deal bookings of $0.9 billion declined 8.4% YoY. While the company maintains that its overall deal pipeline is healthy, brokerages including JM Financial and Motilal Oswal noted that deal-to-revenue conversion has been slower than expected due to client deferrals and longer deal durations.

“Wipro’s demand has continued to be driven mainly by cost optimization and vendor consolidation, rather than broad-based discretionary spending or large-scale AI-led programs,” noted Motilal Oswal — a cautious sign that demand quality has not improved sufficiently.

4. Segment Weakness — Energy, Manufacturing, Consumer**

Performance across business segments remained uneven in Q3 FY26. The Energy, Manufacturing and Resources segment reported negative growth, while the Consumer segment showed subdued momentum. BFSI — Wipro’s largest revenue vertical — was holding up but not growing strongly enough to offset the weakness elsewhere. This broad-based softness across segments reinforces concerns about the pace and sustainability of recovery.

5. US Tariff Uncertainty — External Macro Headwind**

Wipro management directly cited US tariff uncertainty as a reason for client-side decision deferral. The company noted that clients on both sides of the Atlantic are taking a more cautious approach to large transformation programs and discretionary technology spending. This macro factor — beyond Wipro’s control — creates a ceiling on how quickly revenue can recover even as deal bookings improve.

6. Brokerage Downgrades and Target Price Cuts**

Following Q3 FY26 and Q4 FY25 results, multiple brokerages downgraded Wipro or cut target prices. Nuvama downgraded to Hold with a target of Rs.260 (cut from Rs.300). MOFSL maintained Neutral with a Rs.275 target. Nirmal Bang suggested Hold at Rs.296. Only some brokerages maintained Buy — and those typically flagged that a buyback announcement or clear demand recovery would be needed to re-rate the stock. Analyst downgrades create a feedback loop of institutional selling.

Wipro Financial Performance — Key Metrics

Metric	Q3 FY26	Q3 FY25	YoY Change
Revenue (Rs. crore)	23,555.8	22,322	5.5% ↑
Net Profit (Rs. crore)	3,145	3,366	-6.5% ↓
IT Services Revenue (USD bn)	2.6	2.65	-1.2% ↓ (CC)
Q4 FY26 Guidance	0–2% CC QoQ	—	Below Street est.
Q1 FY26 Guidance	-3.5% to -1.5% CC QoQ	—	Negative guidance
Total Deal Bookings (USD bn)	3.3	3.5	-5.7% ↓ YoY

Source: Wipro Q3 FY26 earnings release, Business Standard, INDmoney. Data as of Q3 FY26 (Dec 2025 quarter).

Track Wipro’s live fundamentals and analyst ratings on the Univest Screener — free, updated daily.

Technical Analysis — What Wipro Charts Are Saying

Wipro’s share price trades significantly below all major moving averages — the 20-day, 50-day, 100-day, and 200-day SMAs — confirming a sustained downtrend. The 52-week high of Rs.321 was hit in mid-2025; the stock has since shed approximately 40% to current levels around Rs.191.

Key support levels: Rs.180–185 (near 52-week low)
Key resistance: Rs.210 (immediate), Rs.240 (medium-term)
RSI is in oversold territory — a potential near-term bounce trigger
Volume on down-days has been consistently above average — confirming institutional exit

Download the Univest iOS App or Univest Android App to track Wipro’s live price, charts, and SEBI-backed research.

Market Sentiment and Institutional Positioning

FII (Foreign Institutional Investor) holding in Wipro has been gradually declining as global technology funds rotate away from Indian IT companies facing revenue pressure. Promoter holding (Premji family) remains stable at approximately 72% — the high promoter stake provides structural stability but also means limited float, which can amplify price movements on institutional sell-offs.

Wipro Share Price Target 2026 — Analyst Estimates

Subscribe to Univest Pro for Premium Stock Research and Wipro Analysis

Short-Term Target (3–6 months)

If Wipro shows any improvement in Q1 FY26 guidance commentary or evidence of deal-to-revenue conversion acceleration, the stock could recover toward Rs.200–210. However, without visible improvement in discretionary demand, support at Rs.180–185 may be tested. Short-term range: Rs.180–210.

12-Month Analyst Consensus Target

Analyst 12-month targets range from Rs.260 (Nuvama, Hold) to Rs.296 (Nirmal Bang, Hold). Motilal Oswal has Rs.275 with Neutral rating. The bullish end at Rs.296 implies approximately 55% upside from current levels — but is contingent on clear demand recovery and deal ramp-up acceleration.

Long-Term Target (FY27–FY28)

Wipro bulls cite its improving cash flow position, growing large deal TCV ($1.8 billion in Q4 FY25, up 83% QoQ), Harman DTS acquisition contribution, and AI service revenue potential as long-term re-rating catalysts. If FY27 revenue growth returns to 5-7% CC, the stock could trade at 22-24x FY27 earnings — implying a Rs.300-350 range.

Explore Wipro’s screener data, analyst targets, and sector comparison at Univest Screener.

Will Wipro Share Price Recover?

Bull Case for Recovery

The bull case for Wipro rests on three pillars: first, the large deal TCV of $1.8 billion in Q4 FY25 (up 83% QoQ and 48% YoY) suggests a healthy order book that will eventually convert to revenue. Second, Wipro’s EBIT margins have stabilised at 17-17.5% — the company has demonstrated cost discipline even through the revenue slowdown. Third, AI-related consulting and automation deals are growing and could become a more meaningful revenue contributor by FY28.

Bear Case

The bear case centres on structural challenges: Wipro has consistently underperformed peers TCS and HCL Tech in revenue growth over the past 3 years. The company’s FY26 guidance for negative growth in Q1 makes any near-term recovery difficult. If US macroeconomic conditions worsen further — particularly if a recession materialises — client budgets will tighten even more, creating additional headwinds beyond what guidance has already captured.

Conclusion

Wipro’s share price is falling in 2026 because of a convergence of weak guidance, declining deal bookings, profit pressure, and external macro headwinds from US tariff uncertainty. The fundamental business is not broken — Wipro has Rs.3,000+ crore in quarterly profits, strong cash generation, and a growing large deal pipeline. But the conversion from healthy bookings to actual revenue growth has been persistently delayed. For long-term investors, the stock’s valuation at approximately 20x FY27 earnings is not expensive — but patience is required, as near-term visibility remains limited.

Frequently Asked Questions

Why is Wipro share price falling in 2026?

Wipro share price is falling due to weak Q4 FY26 guidance (0–2% CC growth), even weaker Q1 FY26 guidance (-3.5% to -1.5%), declining deal bookings (-5.7% YoY), net profit down 7% YoY, and broad-based segment weakness. US tariff uncertainty has caused client decision deferrals in the consumer and manufacturing sectors, creating additional headwinds for revenue recovery.

What is Wipro share price target for 2026?

Analyst 12-month targets for Wipro range from Rs.260 (Nuvama, Hold) to Rs.296 (Nirmal Bang, Hold), with Motilal Oswal at Rs.275 (Neutral). The consensus implies 35-55% upside from current levels around Rs.191, contingent on demand recovery and deal ramp-up. Long-term targets for FY27-FY28 range from Rs.300-350 on earnings recovery.

Is Wipro a buy at current levels?

Most brokerages rate Wipro as Hold at current levels — not a strong buy, but not a sell either. The stock trades at approximately 20x FY27 estimated earnings, which is at or below its 5-year average P/E. For long-term investors with a 2-3 year horizon, current levels may represent an entry point — but the risk of further near-term weakness exists until guidance improves. Consult a SEBI-registered advisor before investing.

Why did Wipro fall 7% after Q3 FY26 results?

Wipro fell 7% after Q3 FY26 results primarily because of the Q4 FY26 guidance of only 0–2% CC growth — significantly below analyst expectations. While the Q3 revenue and margin performance was broadly in line, the weak guidance signalled that demand recovery would remain elusive in the near term, triggering institutional selling and brokerage target price cuts.

When will Wipro share price recover?

Wipro’s share price recovery is contingent on: visible improvement in deal-to-revenue conversion, positive guidance surprise in H2 FY26 or FY27, US macro stabilisation reducing client budget deferrals, and AI service revenues becoming a meaningful growth contributor. Most analysts expect FY27 to be better than FY26, but the timing of a stock re-rating depends on guidance commentary in Q4 FY26 results (expected April 2026).

Disclaimer: This article is for informational and educational purposes only and does not constitute investment advice or a stock recommendation. Share prices and analyst targets mentioned are based on publicly available data as of April 2026 and are subject to change. Investing in stocks involves market risk — you may lose part or all of your capital. Always consult a SEBI-registered financial advisor before making investment decisions. Past performance does not guarantee future results.