Wipro Share Price Target: Emkay Maintains ‘Reduce’ Call, Sets Target at Rs 260

Wipro , a leading name in the IT services industry, posted a marginal decline in revenue for the fourth quarter of FY25, reflecting a cautious business environment as global economic uncertainties persist. The outlook for the upcoming quarter also remains conservative, according to a recent note by Emkay Global Financial Services.

Reaffirming its ‘Reduce’ stance on the stock, Emkay has revised Wipro’s target price to Rs 260 per share. The brokerage cited the weaker-than-expected Q4 performance and muted Q1 guidance as key reasons for the downgrade.

“We trim FY26-27E EPS by 0.7% to 1.2%, factoring in the Q4 performance and weak Q1 guidance. We maintain REDUCE on the stock with a target price of ₹260, based on 18x Mar-27E EPS,” Emkay noted in its report.

Also Read: Wipro Q4 FY25 Result Announced! Net Profit Soars 26% To Rs 3,570 Crore - Check Full Earnings Details | Republic World

In Q4, Wipro reported a 0.8% quarter-on-quarter decline in revenue (in constant currency terms), slightly missing market expectations. Operating margins for its IT services segment held steady at 17.5%. However, the company highlighted increasing signs of caution from clients — including project ramp-up delays, paused initiatives, and some ramp-downs — amid heightened macroeconomic and geopolitical volatility, particularly following recent U.S. tariff developments.

Despite the challenges, deal momentum remained solid. Wipro secured contracts worth nearly USD 4 billion during the quarter, including about USD 1.8 billion in large deals. The book-to-bill ratio stood strong at 1.5x, indicating continued client interest and deal flow.

Looking ahead, Wipro has guided for a revenue decline of 3.5% to 1.5% (in constant currency) for Q1 FY26, signaling limited visibility in the near term. Reflecting this outlook, Emkay has slightly lowered its earnings estimates for FY26 and FY27 by 0.7% to 1.2%.