Wipro Shares Downgraded: What Changed in 6 Months After Double Upgrade?

Wipro Shares Downgraded: What Changed in 6 Months After Double Upgrade?

The second IT company India has been rated in accordance with the shift in the rating provided by the broker firm CLSA. Just half a year back, CLSA had awarded a double upgrade to Wipro, but the company is now rating it a Great Downward. The estimated value of its shares is now neutral with no value of growth given to it, but the price estimate still stands at ₹303. From January 1, 2025, Wipro shares Konga was rated ₹300.30 on the BSE which marks a 0.56% difference.

What harmed Wipro Shares: Rating From CLSA?

This is the significant growth in Wipro stock price that cost them a downgrade, says CLSA. There has been a growth in the stock of 14% ever since the double rating in July, with sole recent growth of 3%. CLSA has forecasted the December Quarter to be nothing special from their strong last quarter, as quarterly figures are to grow at a constant rate.

The brokerage also noted that Wipro must develop the same growth pattern as the larger IT companies if it wants to be rated more favorably. At this stage, however working out the future prospects of Wipro’s business still remains unclear. The company has not yet indicated the date for its Q3 earnings release. Out of 45 Wipro analysts, there are 25 who recommend selling the stock, 11 who say it is prudent to hold, and 9 who say buy the stock.

Wipro Shares Performance Over The Year

For more than six months in a row, Wipro’s stock has performed well with the stock increasing more than fifty percent. June 4th 2024 the stock recorded its 52-week low of 208.40. On December 20th 2024 the stock appreciated to its 1 year high of 319.95 which was a 53.53 percent increase from lower mark. However, the stock has also since that time dropped by greater than 6 percent from that peak valuation.

General Information for Shareholders

The shareholder has to consider that stock market is very dynamic and is influenced by numerous conditions and therefore expert ratings are not stock certificates. It can be anticipated with some equity that the stock price of Wipro is going to improve. How much improvement would depend on the company’s maintenance level of growth and strategic alignment with the growth companies in the industry.

Disclaimer:

The information and viewpoints contained in this article are derived from various expert sources and brokerage firms. Such viewpoints do not reflect the views of the website or the website’s management. Investors should always seek professional advice from authorized professionals before making investment decisions.