Wipro Limited, a prominent player in the IT services sector, has been in the spotlight recently due to fluctuations in its share price and various market analyses. As of October 21, 2024, Wipro’s share price closed at ₹538.00, reflecting a modest increase of 0.84% from the previous day. This article delves into the latest updates regarding Wipro’s stock performance, expected target prices, technical and fundamental analyses, and insights from analysts.
Main Points
- 1 Current Market Overview
- 2 Share Price Movement Today
- 3 Wipro Share Price Technical Analysis
- 4 Predicted Price Action for Tomorrow
- 5 Wipro Share Price Fundamental Analysis
- 6 Wipro Share Price Analysts’ Recommendations
- 7 Wipro Share Price Bullish Reasons for Investment
- 8 Key Financial Ratios
- 9 Wipro Share Price Factors Influencing Share Price
- 10 Wipro Share Price Future Prospects
- 11 Wipro Share Price Important News Updates
Current Market Overview
Wipro’s market capitalization stands at approximately ₹281,722 crore. The stock has shown notable volatility, with a 52-week high of ₹579.90 and a 52-week low of ₹375.05. The recent trading volume was recorded at 62.84 lakh shares, indicating active investor interest.
On October 21, Wipro’s shares opened at ₹533.55 and closed at ₹538.00, marking an upward trend throughout the trading session. Analysts have pointed out that the stock is currently positioned above key moving averages, suggesting a bullish outlook for the near term.
Important Levels:
- Resistance Levels:
- ₹613.40 (1st)
- ₹592.63 (2nd)
- ₹579.80 (3rd)
- Support Levels:
- ₹530.34 (1st)
- ₹517.50 (2nd)
- ₹504.67 (3rd)
The technical indicators show that Wipro is trading above its 50-day and 100-day exponential moving averages (EMAs), which is typically seen as a bullish sign. However, the Relative Strength Index (RSI) is currently below 30, indicating that the stock may be oversold.
Predicted Price Action for Tomorrow
Analysts predict that Wipro’s share price could range between ₹516.88 to ₹560.88 for tomorrow’s trading session. The consensus suggests that if the stock can maintain levels above ₹530, it may continue its upward trajectory.
Wipro’s recent financial performance has been mixed:
- Earnings Per Share (EPS): Reported at ₹21.37.
- Price-to-Earnings (P/E) Ratio: Approximately 25.18.
- Dividend Yield: 0.19%.
Despite a slight revenue contraction of 0.39% over the past year, Wipro has secured significant contracts, including a $500 million deal with a major US telecom provider, which may bolster future earnings.
According to various analysts:
- The average target price for Wipro is set at ₹523.51, with estimates ranging from a low of ₹425 to a high of ₹670.
- A majority of analysts recommend holding or selling the stock due to concerns over its near-term growth compared to peers in the IT sector.
Several factors contribute to a bullish sentiment around Wipro:
- Recent partnerships aimed at enhancing service delivery in wealth management.
- Strong momentum following recent contract wins.
- Positive long-term growth forecasts despite short-term challenges.
Key Financial Ratios
| Metric | Value |
|---|---|
| Market Capitalization | ₹281,722 Cr |
| P/E Ratio | 25.18 |
| EPS | ₹21.37 |
| Dividend Yield | 0.19% |
The share price of Wipro is influenced by various factors:
- Market sentiment towards the IT sector.
- Global economic conditions impacting client budgets.
- Company-specific news such as contract wins or losses.
Looking ahead, Wipro aims to enhance its market position through strategic partnerships and innovative service offerings. Analysts remain cautious but optimistic about its potential to recover and grow in the coming quarters.
Recent news highlights include:
- Wipro Secures Major Contracts: This includes partnerships aimed at streamlining operations for financial services.
- Stock Performance Analysis: Continuous monitoring of technical indicators suggests potential bullish trends if key support levels hold.
Wipro Limited remains a significant player in the IT sector with fluctuating stock performance driven by both technical and fundamental factors. Investors are advised to stay updated on market trends and company announcements to make informed decisions.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
