Analysts bearish on Wipro after Delaporte's exit, see up to 15% downside

Thierry Delaporte's resignation as the CEO is surprising and also an acknowledgment of his failure to turn around the business, analysts said

Even as Srini Pallia, a Wipro veteran, is set to take charge as the chief executive officer (CEO) of the company, analysts expect the stock's underperformance to continue in the near-future. This, they believe, will be on the back of likely loss of market share, and difficult business environment.

"We expect Wipro to underperform peers on growth once again in FY25 as channel checks and media reports suggest Wipro is losing share with select clients across multiple verticals. Turning around the business in a difficult environment is all the more challenging. Wipro has to deal with the dual challenges—internal as