Wipro Shares Rally 4% Ahead of Q3 Results as Brokerages Expect Modest Growth

Wipro shares gained significant momentum ahead of its December quarter results, rising 3.7% intraday to hit a high of ₹269.80 on the BSE. The rally reflects investor optimism as the IT major prepares to announce its Q3 earnings, with the market watching for updates on margins, deal wins, and the impact of recent acquisitions.

Brokerage Expectations for Q3FY26

According to an average of estimates from six brokerages, Wipro's financial performance for Q3FY26 is expected to show modest growth amid challenging market conditions.

Financial Metric	Expected Growth	Context
Profit After Tax	+0.4% YoY	Minimal year-on-year improvement
Revenue	+4.0% YoY	Muted growth compared to same period last year
IT Services Revenue (QoQ)	0.5% to 1.2%	Constant currency terms, aided by acquisitions

The subdued growth expectations reflect cautious client spending patterns and challenging macroeconomic conditions affecting the IT services sector.

Sequential Growth Outlook

Brokerages expect sequential growth to remain sluggish, with IT services revenue projected to grow between 0.5% and 1.2% quarter-on-quarter in constant currency terms. The growth is expected to be supported by contributions from recent acquisitions, particularly the Harman integration.

However, while the Harman acquisition is expected to provide a one-month revenue boost this quarter, it is also likely to dilute near-term margins due to integration costs and ramp-up expenses.

Detailed Brokerage Projections

HSBC projects around 0.5% constant currency growth, translating to a 1.2% sequential increase in dollar revenue. The brokerage has flagged a 30 basis point currency headwind and warned of subdued margins due to furloughs and integration costs.

Centrum Broking sees 1.2% quarter-on-quarter growth in constant currency, including 0.5% organic growth and 0.7% from Harman. The brokerage expects EBIT margins to decline by 22 basis points sequentially, largely due to the ramp-up costs of large deals.

Brokerage	Revenue Growth (QoQ)	Margin Impact	Key Factors
HSBC	0.5% constant currency	30 bps currency headwind	Furloughs, integration costs
Centrum Broking	1.2% constant currency	-22 bps EBIT margin	Large deal ramp-up costs
Nomura	0.5% constant currency	-20 bps margin decline	Partially offset by currency gains
Nuvama	Similar growth expected	Flat margins	Ongoing integration costs

Nomura echoed similar expectations, projecting 0.5% revenue growth in constant currency and a modest 20 basis points drop in margins, partially offset by currency gains. Nuvama anticipates similar revenue growth and estimates a 1% contribution from Harman integration, but expects margins to remain flat on a sequential basis, citing ongoing integration-related costs.

Key Focus Areas for Investors

As Wipro prepares to release its earnings, investors will be looking for several key indicators:

Forward-looking guidance on deal momentum and pipeline strength
Cost optimization initiatives and their impact on profitability
Clarity on the margin trajectory amid ongoing macro pressures
Progress on integration of recent acquisitions, particularly Harman
Management commentary on client spending patterns and demand outlook

The market's attention will be particularly focused on how the company navigates the challenging macroeconomic environment while managing integration costs from recent acquisitions.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+2.88%	-1.14%	+2.72%	+5.29%	-8.59%	+17.84%

Wipro Limited has received an ESG (Environmental, Social, and Governance) rating of 74 from ESG Risk Assessments & Insights Limited, the company announced on January 15, 2026. The IT services major informed stock exchanges about this development through a regulatory filing under SEBI listing obligations.

Independent ESG Assessment

The company clarified that it did not engage ESG Risk Assessments & Insights Limited for obtaining this ESG rating. The rating agency independently prepared the assessment based on Wipro's data available in the public domain.

Parameter:	Details
ESG Rating:	74
Rating Agency:	ESG Risk Assessments & Insights Limited
Assessment Type:	Independent/Voluntary
Data Source:	Public domain information

Regulatory Compliance

Wipro made this disclosure pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was sent to multiple stock exchanges where the company's shares are listed:

BSE Limited (BSE: 507685)
National Stock Exchange of India Limited (NSE: WIPRO)
NYSE, New York (NYSE: WIT)

Corporate Communication

The disclosure was signed by M Sanaulla Khan, Company Secretary of Wipro Limited, and has been uploaded on the company's official website at www.wipro.com for stakeholder reference. This transparency measure ensures all investors and stakeholders have access to the ESG rating information.

ESG ratings have become increasingly important for companies as investors and stakeholders focus more on sustainable business practices and corporate governance standards. The rating of 74 provides an independent assessment of Wipro's performance across environmental, social, and governance parameters based on publicly available information.