Wipro, a major Indian IT company, has witnessed a significant drop in its stock price. From its peak in January 2021, it's down by nearly 48%. In the past year, it underperformed compared to similar companies.
Recently, Wipro reported weak earnings for the September quarter and provided a modest revenue outlook. Despite this, it achieved a 7% YoY increase in total bookings and a 79% YoY growth in large-deal TCV.
Experts suggest that the next earnings report will be crucial for Wipro's trajectory. Technical analysis indicates that the stock faces strong resistance, with critical support levels at 350-370 and resistance at 440-450.