New Delhi: On Tuesday, July 23, 2024, Wipro share price opened with a gap up at Rs 509 apiece on the Bombay Stock Exchange (BSE). Stock market analyst Brijesh Ali, associated with IDBI Capital, shared his views on the Wipro share price. The stock market expert told Money9 that the IT stock may make fresh lows in near term, so fresh positions cannot be made at current levels. On July 22, Wipro had plunged nine per cent after the information technology services company gave flat sequential growth guidance for upcoming September quarter (Q2) of the financial year 2024-25 (FY25).
Wipro share price target
According to Ali, at lower levels, the Rs 480-460 price band serves as the Wipro share price support level. He advised the investors to exit their positions in the stock on any bounce. Currently, he refrained from giving any target on Wipro given the sharp plunge witnessed in the stock on Monday.
Wipro Share Price History
The IT stock is down nine per cent in the past five days
Wipro Share Price is up three per cent in past 30 days
The scrip is up seven per cent in the past six months
Wipro Share Price rallied 25 per cent in the past one year
Wipro Results Q1 2024
Last week, India’s third largest information technology services firm, Wipro Ltd declared results for the first quarter (Q1) of FY25. The IT major posted a 4.6 per cent year-on-year rise in consolidated net profit for the June quarter at Rs 3,003.2 crore. The Q1 FY25 revenue of the Bengaluru-headquartered firm, however, fell 3.8 per cent to Rs 21,963.8 crore.
The company had said that it expected revenue from the IT Services business segment would be in the range of USD 2,600 million to USD 2,652 million in the September quarter. This translateed to sequential guidance of (-) 1.0 per cent to +1.0 per cent in constant currency terms.
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Wipro share price: Stock Market expert Brijesh Ali advised investors t o abstain from making any fresh positions in Wipro. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
