Motilal Oswal cuts its FY26E/FY27E EPS estimates by ~4% to account for weak Q1 FY26 guidance and sustained demand softness in key verticals and regions.
As per Wipro's management, client spends deteriorated toward the end of Q4, and Q1 could see further impact. A soft guidance of 3.5% to 1.5% cc QoQ revenue decline reflects this. Will the situation become immediately better in Q2? It’s too early to say.