 "Tough road ahead for Wipro as growth challenges likely to continue")
In a weak market, the Wipro stock gained over 3.6 per cent after the company said that it will stick to the buyback plan announced earlier. The stock had shed over 8 per cent since the Union Budget (July 5) on worries that the company may not go ahead with the Rs 10,500-crore buyback plan, given the 20 per cent tax on buybacks.
Though the stock has gained somewhat, brokerages believe the road ahead — at least in the near term — is likely to be tough. The company’s largest vertical, the banking, financial services and insurance (BFSI), which accounts
