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BUZZ-India's Wipro set to be top weekly loser among Nifty 50 stocks

ReutersJan 3, 2025 9:47 AM

** Wipro WIPR.NS, India's 4th largest IT firm, down ~4.4% for the week, set for worst weekly performance among Nifty 50 .NSEI stocks

** WIPR down 2.8% at 295.30 rupees on Fri

** CLSA on Wed downgraded stock to "hold" from "outperform"

** After stock's recent outperformance, brokerage expects co's revenue growth to be weakest among large-cap IT firms

** Stock up 29.5% in last 12 months vs 27.10% gain in IT index .NIFTYIT

** Brokerage expects continued weakness in co's manufacturing and energy & utilities verticals

** Nomura expects WIPR to be weakest performer among large-cap IT stocks, at -1% Q/Q growth

** Brokerage, however, maintains "buy" rating, PT second-highest among analysts

** Stock rated "hold" on avg by 37 analysts -LSEG data

** HCL Technologies HCLT.NS set to be best weekly performer among IT stocks, up ~3.17%; CLSA, Nomura expect co to have strongest sequential rev growth

($1 = 85.7630 Indian rupees)

(Reporting by Ananta Agarwal in Bengaluru)

((Ananta.Agarwal@thomsonreuters.com))

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