Wipro ADR drops as weak Q1 FY27 revenue outlook weighs after Q4 print
Wipro’s U.S.-listed ADR (WIT) is sliding as investors continue to reprice the stock after management guided for sequential IT services revenue change of -2.0% to 0% (constant currency) for the quarter ending June 30, 2026. The pullback comes even after the company approved a ₹150 billion share buyback alongside Q4 FY26 results released April 16, 2026.
1. What’s moving the stock today
Wipro’s ADR is lower as the market focuses on near-term demand visibility following the company’s latest quarterly update. Management guided for sequential IT services revenue change of (-)2.0% to 0% in constant-currency terms for the quarter ending June 30, 2026, signaling a muted start to FY27 and pressuring sentiment in a tape that often punishes weak forward outlooks more than backward-looking results. (businesstoday.in)
2. The catalyst: Q4 results plus cautious outlook
Wipro reported Q4 FY26 results on April 16, 2026, with IT services segment revenue up 0.6% QoQ (reported dollars) and non-GAAP constant-currency IT services revenue up 0.2% QoQ, while large deal bookings rose sharply. Despite those operational positives, the guidance range for the June quarter has kept investors cautious about growth momentum. (wipro.com)
3. Buyback support is real, but not enough to offset guidance
The board approved a buyback value of ₹150 billion as part of the April 16, 2026 announcements, and the company has also circulated materials for ADS holders. Still, buybacks tend to provide a valuation backstop rather than an immediate fix when the core debate is demand softness and near-term revenue trajectory. (wipro.com)