Wipro's share price drops by over 2%
Wipro shares dropped over 2% on Monday, leading losses on the Nifty 50 as investors braced for the company's quarterly earnings coming July 17.
The stock hovered near ₹253 on July 14, reflecting nerves around mixed financial signals.
Wipro's recent financials and insider trading update
Wipro posted higher profits this year—₹13,192.6 crore versus last year's ₹11,135.4 crore—but saw a slight dip in annual revenue.
Quarterly revenue ticked up to ₹22,504.2 crore in March, though earnings per share have been unpredictable lately.
Right now, no insider trading is allowed until after results are out on July 19.
IT sector has been shaky all month
The IT sector has been shaky all month, and Wipro's recent share allotment added pressure.
Investors are watching closely to see if Wipro can turn things around or if more bumps are ahead when those earnings drop this week.