Wipro slips 6%, hits 52-week low on weak Q3 revenue growth guidance

Shares of Wipro slipped 6 per cent, hitting a fresh 52-week low of Rs 383.25 on the BSE in Thursday's intra-day trade, after the company gave a revenue growth guidance of 0.2-2 per cent for October-December quarter (Q3FY23), much lower than Street's expectations, on the back of macro uncertainty and geopolitical issues. This is also less than the Q1 guidance of 3-5 per cent.

"We expect Revenue from our IT Services business to be in the range of $2,811 million to $2,853 million. This translates to a sequential growth of 0.5 per cent to 2.0 per cent," Wipro said on Q3 outlook. The management said  it said that it has started to see a slowdown in the Consulting business, although the