Wipro hits 52-week low; stock down 18% in 1 month on tepid Q1FY23 guidance

The company has given a tepid guidance of 1-3% QoQ CC terms growth in Q1FY23, which translates into revenues of $2,748 million to $280 million

Shares of Wipro hit a fresh 52-week low of Rs 484, down 3 per cent on the BSE in Friday's intra-day trade, extending their fall of the past five days. The stock has dropped 7 per cent during the period after the company reported a disappointing margin for March quarter (Q4FY22).

Going forward, the company has given a tepid guidance of 1 per cent to 3 per cent quarter on quarter (QoQ) in constant currency (CC) terms growth in Q1FY23, which translates into revenues of $2,748 million to $2803 million.

The stock of the information technology (IT) software