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Wipro shares crash 9% on weak Q1, soft guidance; brokerages cut price targets
Analysts turned bearish on Wipro and downgraded the IT stock after it guided for -1% to +1% QoQ growth for Q2 FY25.
Analysts turned bearish on Wipro and downgraded the IT stock after it guided for -1% to +1% QoQ growth for Q2 FY25.
Infosys shares touched a 52-week high of ₹1,843 today, rebounding 40% against its 52-week low of ₹1,311.60 touched on July 21, 2023.
Analysts seem to be bullish on the IT major’s prospects and have raised target price to up to ₹4,660, against Thursday’s closing price of ₹3,922.70.
The IT heavyweight has maintained an uptrend for the last three sessions and rose nearly 10% during the same period.
Post Q4 numbers, most brokerages remained bullish on TCS, expecting the share price to rise up to 15% to ₹4,700 from the current market price.
The IT major will receive tax refund from the I-T dept for assessment years spanning from 2007-08 to 2018-19.
Tata Sons was looking to offload 2.34 crore, or 0.65%, shares of TCS at a floor price of ₹4,001 per share through block deals.
Extending gaining streak for the fourth straight session, TCS shares rose as much as 2.6% to scale a new peak of ₹4,229.30 on the BSE.
The IT major’s net profit fell 60.6% YoY to ₹510 crore, while revenue from operations slipped 5% to ₹13,101 crore in Q3 FY24.
TCS shares declined 1.2% to hit a low of ₹3,468 as the stock turned ex-date for share buyback today.