Wipro Shares Crash 7% on Weak Q3 Guidance; Brokerages Split on Outlook

• Wipro shares tumbled nearly 7% to Rs 249 after issuing weaker-than-expected Q4 guidance, despite steady Q3 operational performance.
• The stock has underperformed, down 17.3% over the past year, significantly lagging the Nifty 50's 10% gain.
• Q3 consolidated net profit was Rs 3,119 crore (down 4% QoQ, 7% YoY), with IT services revenue at Rs 23,378 crore, missing Street estimates.
• Wipro guided for Q4 IT services revenue of $2.635 billion to $2.688 billion, implying 0-2% sequential growth in constant currency.
• Brokerages are divided: Nomura maintains 'Buy' citing operational discipline, while Jefferies holds 'Underperform' due to growth and margin risks.

Why It Matters: Wipro's stock fell sharply due to weak Q4 guidance, overshadowing steady Q3 results and leading to mixed brokerage views.