Wipro Share Price Live Updates: Wipro's Recent 3-Month Returns
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Mint
41 minutes ago
- Mint
Infosys, Wipro, Mphasis among top gainers as IT stocks rise up to 3% on Fed's dovish signal
IT stocks in focus today: Domestic technology stocks gained sharply in Wednesday's trading session, even as the broader market continued to trade within a narrow range. Infosys share price jumped nearly 3% to hit the day's high of ₹ 1,649 apiece, while Wipro gained 2%. MphasiS and TCS each rose more than 1.5%. Nine out of 10 constituents of the Nifty IT index traded in the green, pushing the index up by 1.8% to an intraday high of 39,519. The index ended June with a strong gain of 4.36%, continuing the bullish momentum from May, when it advanced 4.30%. The positive sentiment in Indian IT stocks followed dovish comments from the US Federal Reserve. Fed Chair Jerome Powell, speaking at a central banking conference in Portugal, reiterated that the central bank plans to wait for more economic data before initiating rate cuts but did not rule out a possible cut in July. During a discussion on Tuesday, Fed Chair Jerome Powell was asked whether a rate cut in July was plausible. He responded that it was too early to say and emphasized that any decision would hinge on upcoming economic data. Powell also remarked that, if not for inflationary pressures stemming from tariff policies introduced during the Trump administration, the Fed might have already moved to ease rates. His comments come at a time when the US central bank is holding steady on rates, despite increasing scrutiny and political pressure, raising questions about potential informal influence from the White House. The Federal Reserve kept its benchmark interest rate unchanged last month at the 4.25%–4.50% range, a level it has maintained since December. On Thursday, traders increased their bets on rate cuts this year, with the probability of three reductions rising to about 60%, up from strong expectations of just two cuts earlier in the week, according to CME Group data. Meanwhile, Senate Republicans advanced their own version of the administration's tax-and-spending package, a proposal that could potentially expand the federal deficit by over $3 trillion over the next decade. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Mint
an hour ago
- Mint
Mid-cap IT companies set to outpace larger peers in Q1
India's mid-sized IT services firms, with annual revenues between $1 billion and $5 billion, are expected to outgrow their larger peers in the first quarter of FY26, driven by large deal wins, limited exposure to tariff-hit sectors, and better adoption of Gen AI. Companies, including LTIMindtree Ltd, Mphasis Ltd, Coforge Ltd, Persistent Systems Ltd, and Hexaware Technologies Ltd, are expected to report a sequential revenue growth between 0.6% and 9% for the three months ended June, according to at least five brokerages. In contrast, larger players like Tata Consultancy Services (TCS), Infosys, HCLTech, Wipro, and Tech Mahindra are expected to grow around 3.5%. Wipro is likely to report up to a 2.5% decline due to weak European demand and subdued client spending. Infosys is expected to outperform its top peers. Coforge is expected to lead the midcap pack, buoyed by its $120-million annual contract with Sabre Corp., signed in March. Persistent Systems is projected to post 4.1% sequential growth, Kotak Institutional Equities said in a 30 June note. 'We believe that the quarter will be a mixed one, with mid-tier IT services companies reporting strong growth, while large IT companies and ERD (engineering, research and development) names will disappoint," said Kotak Institutional Equities analysts Kawaljeet Saluja, Sathishkumar S, and Vamshi Krishna. 'Smart deal structuring, share gains and favorable portfolio (low manufacturing exposure) will drive strong growth for mid-tier, with Coforge (+6.4% qoq) and PSYS (+4.1% qoq) leading the way," said the Kotak analysts. PSYS refers to Persistent Systems. Mid-caps capitalised on their ability to shape large deals and get higher revenue from banks and financial institutions. 'Key reasons for this outperformance of mid-caps vs. large-caps include: 1) the ability to proactively shape large deals and quickly tap into high-growth areas; and 2) a larger revenue share from the BFSI vertical, which seemingly is not as singed by the tariff-led macro friction," said ICICI Securities analysts Ruchi Mukhija, Aditi Patil, and Seema Nayak, in a note dated 1 July. Building momentum Analysts' optimism in mid-cap tech service providers comes on the back of stronger performance last fiscal year. Five of the country's eight mid-caps earning between $1 billion and $5 billion reported double-digit revenue growth last year, led by Coforge, which reported a 31% jump in revenue. This was in contrast to the top five, which reported a growth of 4.3% at best. Mid-cap companies scored big on deals wins, which eluded their larger peers in FY25. LTIMindtree landed its largest contract with US-based food processing and commodities trading company Archer-Daniels-Midland Co. (ADM) in May, while Coforge secured the Sabre deal in March. Leadership stability has further helped the mid-caps shine. CEOs at Coforge, Persistent, and Hexaware have each been in their roles for over five years, having previously worked at larger peers they now outperform. In contrast, TCS, Wipro, and Tech Mahindra have all seen recent leadership changes, with new CEOs serving for less than two years. Faster integration of GenAI is also giving mid-caps an edge. As reported by Mint on 7 May, these firms are more adept at embedding GenAI into services agile teams and better ability to change their business processes to clients' needs. Meanwhile, engineering R&D firms are bracing for a challenging quarter. At least two brokerages expect each of the ER&D firms including L&T Technology Services Ltd, Cyient DET, KPIT Technologies Ltd, Tata Elxsi Ltd, and Tata Technologies Ltd, to report a sequential revenue decline. These companies rely on business from carmakers. 'Auto ER&D are likely to face the brunt of tariff-led pauses," said JM Financial analysts Abhishek Kumar, Nandan Arekal, and Anushree Rastogi, in a note dated 30 June. The analysts added that these companies reflected 'elevated levels of uncertainty in their demand outlook." A tariff war sparked by US President Donald Trump has impacted companies and supply chains across sectors. Higher tariffs have made it tougher for companies, including car makers, to source raw materials for their businesses. A double whammy for global carmakers comes from cheaper Chinese vehicles, which are eating their market share.
Economic Times
2 hours ago
- Economic Times
Wipro Share Price Live Updates: Wipro's 1-Week Returns Show a Minor Decrease
02 Jul 2025 | 09:54:35 AM IST Stay updated with the Wipro Stock Liveblog, your one-stop destination for real-time information and analysis of a leading stock. Explore the latest updates on Wipro stock, including: Last traded price 268.4, Market capitalization: 280071.03, Volume: 1726851, Price-to-earnings ratio 21.32, Earnings per share 12.53. Our liveblog combines fundamental and technical insights to offer a comprehensive overview of Wipro's performance. Gain valuable market knowledge and make informed decisions with our expert analysis. Be the first to know about breaking news that can impact Wipro's trajectory. Join us on this journey as we explore the exciting potential of Wipro. The data points are updated as on 09:54:35 AM IST, 02 Jul 2025 Show more
