Wipro Stock Update: Shares Slip Over 1% on Goldman Sachs 'Sell' Rating
Wipro (WIPRO) share price is trading at ₹174.15, down 1.28% today, as Goldman Sachs maintains a 'Sell' rating with a target price of ₹172 amid growth concerns.
Wipro's stock is trading lower in early intraday deals, currently at ₹174.15, marking a 1.28% decline from its previous close of ₹176.40. The IT services major opened the session at ₹175.89 and has since moved within a narrow range, hitting an intraday high of ₹176.47 and a low of ₹173.34. Volume at 3,333,373 shares appears moderate, suggesting some selling pressure but not an overwhelming surge.
| WIPRO – Stock Updates as of (10:37AM, 07 Sep 2026) | |||
|
LTP
₹174.15 |
Open
₹175.89 |
High
₹176.47 |
Low
₹173.34 |
|
52W High
₹0.00 |
52W Low
₹0.00 |
Volume
3,333,373 |
% Chg
-1.28% |
52-Week Context of Wipro
Specific 52-week high and low figures for Wipro are not currently available. However, the stock's current level of ₹174.15 places it in a challenging position, with its price having decreased by 29.30% over the last year. Analysts currently project a maximum target of ₹210.00 and a minimum of ₹147.00 for Wipro's share price, indicating the current trading range is closer to the lower end of analyst expectations. IFCI Stock Update: Share Price Rises 2% on NSE IPO Optimism.
Latest Developments
The most significant factor influencing Wipro's current intraday slide appears to be a recent analyst call from Goldman Sachs. The brokerage has maintained its 'Sell' rating on Wipro, setting a target price of ₹172, which is below the stock's current trading price. Goldman Sachs cites subdued near-term growth and persistent client-specific challenges as key reasons for its cautious outlook. While the demand environment remains stable, discretionary spending by clients continues to be muted, and the brokerage expects the impact of AI-driven deflation to take several more quarters to fully materialize.
Adding to the recent sentiment, news emerged on September 6, 2026, that Wipro is expanding the use of its TimeScope productivity-monitoring tool across its India workforce. This move aims to enhance visibility into digital activity on company devices, coming amidst industry pressure for improved employee utilization and operational efficiency. Separately, a report from September 4, 2026, noted a slight dip of nearly 2% in Wipro's shares following its acquisition of a 60% stake in US insurtech firm Aggne Global for US$66 million, a deal intended to strengthen Wipro's presence in the insurance sector. PC Jeweller Stock Update: Shares Jump 11% on Debt Repayment Progress.
Despite these company-specific headwinds, the broader Indian IT services sector has shown signs of recovery, with active hiring demand reaching an 18-month high in September 2026, logging 57,000 active job openings. Additionally, Wipro recently announced an extended engagement with ABB on September 1, 2026, to deliver and enhance global digital workplace services, and expanded its partnership with Google Cloud on August 27, 2026, to scale AI into core enterprise operations. However, these positive developments do not appear to be offsetting the immediate negative impact of the Goldman Sachs downgrade and lingering concerns regarding growth.
Investors will be closely watching for any further analyst commentary or corporate updates that could provide clarity on Wipro's near-term growth trajectory and the impact of the ongoing industry dynamics for the remainder of the trading session.
Disclaimer: The information provided in this article is based on news reports and is not intended as investment advice. Investing in stocks involves risk. LatestLY advises its readers to consult with a financial advisor before making any investment decisions.
(The above story first appeared on LatestLY on Sep 07, 2026 10:37 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).