Wipro Loses Over $650 Million in Market Value Due to Weak Revenue Forecast
Wipro's shares fell 3% on Friday, erasing $670 million in market value after the company issued a weak first-quarter revenue forecast, citing muted demand and margin pressures. The stock's decline marked its steepest drop in nearly a month and made it the worst performer on the IT index. The forecast follows a lackluster fourth-quarter performance and raises concerns about sustained growth challenges.
Topics: IT Sector Market Value Revenue Forecast Stock Performance Wipro