Wipro Ltd Share Price Rises 2.25% to ₹173.95 Despite 17% Drop in ADRs on Nasdaq

Wipro Ltd share price climbed 2.25% to ₹173.95 on the NSE on Thursday, July 2, 2026. This came even as Wipro’s American Depositary Receipts fell 16.89% overnight on the NYSE to $1.870. Domestic buying tracked a broader Nifty IT rebound rather than following the sharp ADR weakness. JPMorgan downgraded Wipro Ltd to Underweight from Neutral, citing AI-driven pricing pressure and a tough demand environment. The brokerage also cut its target price to $1.70 from $2.20, adding fresh pressure on sentiment.

Why Wipro Ltd ADRs Fell While Shares Rose

JPMorgan’s downgrade flagged sharp downside risk to consensus earnings estimates for Wipro Ltd. The move stood in contrast to peer ADR performance overnight. Infosys ADRs gained 1.53% to $10.65, while Cognizant surged 6.04% and Accenture advanced 5.38%. This gap shows the pressure was company-specific, not sector-wide.

Q1 FY27 Preview Raises Concerns

Motilal Oswal Financial Services expects Wipro (WIPRO.NS) Ltd’s IT services revenue to decline 1.3% quarter-on-quarter in constant currency terms. Margins may fall 110 basis points sequentially to 16.1%. Wage hikes, lower-margin deal ramp-ups, and AI-related investments are weighing on profitability heading into the Q1 FY27 results.

Recent Stock Performance Remains Weak

Wipro Ltd shares are down roughly 19% over the past month. The stock has fallen close to 36% for 2026 so far, reflecting sustained underperformance. This pattern suggests the market had been pricing in company-specific concerns well before Thursday’s ADR fall triggered the formal downgrade.

Key Risks Ahead for Wipro Ltd

The gap between Wipro Ltd’s weak ADR performance and its firmer domestic share price creates catch-down risk. This risk grows if Q1 FY27 results confirm the revenue decline and margin compression flagged by Motilal Oswal. Deal pipeline conversion and AI-led productivity initiatives remain key signals to watch.

Key numbers behind the Wipro Ltd move:

• NSE share price: ₹173.95, up 2.25% on July 2, 2026
• ADR price: $1.870, down 16.89% overnight on NYSE
• JPMorgan target price: cut to $1.70 from $2.20
• Expected Q1 FY27 margin: 16.1%, down 110 basis points

Final Thoughts

Wipro Ltd’s domestic gain looks more tied to the broader Nifty IT rebound than any resolution of company-specific concerns. Peers like Infosys, Cognizant, and Accenture posted stronger ADR performance in the same session, underscoring that Wipro Ltd faces distinct headwinds. Q1 FY27 results will serve as the next major test of whether AI-driven demand pressure is showing up in the numbers.

Disclaimer:

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