Wipro Shares Plunge 2.46% Amid Jefferies Downgrade

Wipro(WIT) shares plunged 2.46% today, marking the lowest level since March 2020, with an intraday decline of 3.86%.

Jefferies has downgraded Wipro's stock rating to "Underperform" from "Hold," with a revised price target of $2.43, down from $3.53. This downgrade by Jefferies is a significant factor impacting Wipro's stock price as it reflects a less favorable outlook from a respected financial institution.

Wipro is set to announce its fourth quarter financial results for the period ended March 31, 2025, on April 16, 2025. This announcement is crucial for investors as it will provide insights into Wipro's recent performance, revenue trends, profitability, and operational efficiencies. The market typically reacts to such financial disclosures, influencing stock price movements.