On Friday, Bombay Stock Exchange (BSE) traded Wipro Ltd’s shares hit an eleven-month low of Rs 510.55, down 2 per cent, ahead of its January-March quarter (Q4FY22) result.

• What is Stock Order : Types, Differences & How Order Works
• India’s Business Activity Hits 3-Month High in Nov Amid Rising Costs
• Trudeau to Cut Sales Tax and Send Checks to Canadians Ahead of Election
• Ashwini Vaishnaw Encourages German Companies to Invest in India
• Flipkart Appoints Dan Bartlett to Board

Last month, Wipro has underperformed the market by falling 15 per cent as compared to a 0.21 per cent decline in the S&P BSE Sensex. The stock has corrected 31 per cent from its 52-week high level of Rs 739.80, touched on October 14, 2021. It had hit a 52-week low of Rs 477.80 on May 4, 2021.

According to the ICICI securities, Wipro had guided for 2-4 per cent constant currency (CC) growth in Q4 for IT services. “We expect the company to report 3.5 per cent QoQ CC growth in revenues in IT services. We expect dollar revenue growth of 3.2 per cent QoQ, factoring in 30 bps cross-currency headwind.”

Besides, the company is expected to report 2.7 per cent QoQ rupee growth. Earnings before interest and tax (EBIT) margins in global IT services are expected to decline by 30 bps QoQ, due to the impact of salary hikes amid higher attrition. Overall EBIT margins are expected to decline by 20 bps QoQ due to weak performance in IT services. Consequently, PAT is expected to be flattish QoQ, they added.