
HSBC Remains a Hold on Wipro Limited (WIPRO)
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In addition to HSBC, Wipro Limited also received a Hold from Morgan Stanley's Gaurav Rateria in a report issued on July 18. However, yesterday, TR | OpenAI – 4o reiterated a Buy rating on Wipro Limited (NSE: WIPRO).
Based on Wipro Limited's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of INR225.04 billion and a net profit of INR35.7 billion. In comparison, last year the company earned a revenue of INR222.08 billion and had a net profit of INR28.35 billion
Based on the recent corporate insider activity of 375 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WIPRO in relation to earlier this year.
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Business Wire
24 minutes ago
- Business Wire
Wipro Wins Multi-Year 'Smart Grid' Deal from Saudi Electric Company
RIYADH, Saudi Arabia & BENGALURU, India--(BUSINESS WIRE)--Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading AI-powered technology services and consulting company, today announced a multi-year strategic contract from Saudi Electric Company – National Grid SA. Wipro will implement a Smart Meter Data Management (MDM) system for the transmission network to modernize the client's meter data platform, enhance operational efficiencies, and better manage risks. "We are excited to build a long-standing relationship with National Grid SA and are dedicated to assisting them in navigating the evolving energy landscape,' said Vinay Firake, CEO – Asia Pacific, India, Middle East & Africa (APMEA), Wipro Limited. 'With our deep domain expertise in the energy sector, smart solutions and advanced technological capabilities, we are proud to contribute to projects that are essential to the Kingdom's Vision 2030 and help the Kingdom realize its innovation and digitalization ambitions." Wipro will design, develop, implement, and support the infrastructure and smart applications for the new MDM system. Through continuous monitoring, the system will improve grid stability by providing real-time data on power flow, voltage, and equipment data. Wipro will enable National Grid SA to improve its grid planning through intelligent forecasting and reporting. The intelligent integrations will support proactive maintenance, faster fault identification, and enhance visibility of energy usage patterns. This will allow National Grid SA to optimize its power dispatch, reduce operational costs, and minimize outages, leading to optimal experiences for the end user. About Wipro Limited Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading AI-powered technology services and consulting company focused on building innovative solutions that address clients' most complex digital transformation needs. Leveraging our holistic portfolio of capabilities in consulting, design, engineering, and operations, we help clients realize their boldest ambitions and build future-ready, sustainable businesses. With over 230,000 employees and business partners across 65 countries, we deliver on the promise of helping our clients, colleagues, and communities thrive in an ever-changing world. For additional information, visit us at Forward-Looking Statements The forward-looking statements contained herein represent Wipro's beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro's control. Such statements include, but are not limited to, statements regarding Wipro's growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
Yahoo
34 minutes ago
- Yahoo
India's private sector sees robust growth despite inflation and job concerns, PMI shows
By Anant Chandak BENGALURU (Reuters) -Growth in India's private sector remained robust in July, supported by strong manufacturing and international demand, but rising inflation and weaker employment generation tempered the expansion, a business survey showed. Moderation in overall growth came alongside a drop in business confidence to an over two-year low. Firms expressed concerns over rising price pressures and heightened competition while uncertainty surrounding trade negotiations with the U.S. also likely weighed on sentiment. July's HSBC Flash India Composite Purchasing Managers' Index, compiled by S&P Global, registered 60.7, a slight dip from June's final reading of 61.0. The figure remained well above the 50-level that separates growth from contraction and marked sustained expansion for the past four years. "The strong performance was bolstered by growth in total sales, export orders and output levels. Indian manufacturers led the way, recording faster rates of expansion than services for all of the three aforementioned metrics," noted Pranjul Bhandari, chief India economist at HSBC. Manufacturing was the engine of growth this month with its flash PMI climbing to 59.2, the highest reading in over 17 years, from 58.4. In contrast, the services activity index fell to 59.8 from 60.4, indicating a softer albeit historically sharp rate of expansion. Overall new orders expanded at the fastest pace in a year, bolstered by robust demand from overseas clients in Asia, Europe, and the U.S.. New orders for manufactured goods, in particular, rose to a near five-year high. Bhandari noted that despite the strong performance, there were signs of caution. "Business confidence fell to its lowest mark since March 2023, while employment growth moderated to its weakest pace in 15 months," she said. A recent Reuters poll of independent economists highlighted growing concerns about joblessness and underemployment in the world's fastest-growing major economy, which has failed to create enough well-paying jobs for millions of youth entering the workforce each year. According to recently introduced official government data the unemployment rate remained steady at 5.6% in June but the way this is measured is inaccurate, economists say. Meanwhile, inflationary pressures intensified with both input costs and output charges rising in July. Firms reported higher prices for materials such as aluminium, cotton, and foodstuffs and passed these higher expenses on to clients. Retail inflation eased to an over six-year low last month due to lower food prices but any acceleration in inflation could dampen expectations for more interest rate cuts from the Reserve Bank of India.


Bloomberg
7 hours ago
- Bloomberg
India's Economic Activity Sends Mixed Signals in July, PMIs Show
India's manufacturing activity strengthened in July, while the services sector showed signs of easing, according to a flash survey by HSBC Holdings Plc. The manufacturing purchasing managers' index rose to 59.2 in July from 58.4 in June, marking its highest level in nearly 17.5 years, according to HSBC. In contrast, the services purchasing managers' index edged down to 59.8 from 60.4 last month, slightly weighing on overall activity. As a result, the composite index eased to 60.7 compared to 61.0 in the previous month.