India's Wipro gains after quarterly revenue beat offsets concerns over weak deal wins (updated)

Wipro

16/10/2026 05:24

Adds details, analyst comments paragraph 2 onwards
Oct 16 (Reuters) - Wipro WIPR.NS shares rose nearly 4% on Friday after the IT firm's second-quarter revenue beat estimates and the company signaled that delayed large deals could support growth in coming quarters, outweighing concerns over weak deal bookings and a subdued near-term outlook.
The stock was trading at 180.76 rupees, its highest since September 1, and was set for its fourth straight session of gains. 
Wipro said its second-quarter revenue rose to 247.53 billion rupees ($2.61 billion), above analysts' expectations of 246.27 billion rupees. 
    The Bengaluru-headquartered company forecast third-quarter revenue growth of between a 1.5% decline and a 0.5% rise in constant currency terms and reported a 45% drop in total bookings to $2.6 billion from a year earlier.
    The results add to signs of a gradual stabilisation in India's $315 billion IT services sector after a prolonged slowdown in client spending. Shares of larger peers Tata Consultancy Services TCS.NS and HCLTech HCLT.NS also rose strongly after their results, as investors warmed to signs of recovering demand and AI-related spending.
Jefferies said revenue and margins exceeded expectations and cited management's comments that two delayed large deals are expected to close this quarter, helping improve the growth outlook.
Dolat Capital said the quarter reflected stable revenue performance and improving profitability, adding that better deal conversions could lift growth in the second half of the fiscal year.
Emkay Global said a robust pipeline and the expected closure of delayed deals could support stronger revenue momentum in subsequent quarters.
Wipro shares have shed nearly 32% so far this year, compared with a 17% drop in the IT index .NIFTYIT.

($1 = 94.7200 Indian rupees)

 (Reporting by Kashish Tandon in Bengaluru; Editing by Jochelle Mendonca)
 ((Kashish.Tandon@thomsonreuters.com; 8800437922;))