Wipro Drops Most Since April, Analysts Await Broader Recovery

(Bloomberg) — Shares of Wipro Ltd. slipped the most intraday in six months after its quarterly profit missed estimates, with some analysts saying they want to see more evidence of business recovery under the new leadership.


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The software exporter posted July-September net income of 24.7 billion rupees on Tuesday, down 3.1% on-year and below an estimate of 25.2 billion rupees in a Bloomberg survey. The company also said it will spend as much as 95 billion rupees ($1.3 billion) buying back its shares at 400 rupees each.

Wipro’s stock slumped as much as 6.9% and was the worst performer on the benchmark NSE Nifty 50 Index on Wednesday. Investec, Antique Stock Broking and Spark Capital Advisors were among brokers that downgraded the stock.

“We await further evidence of execution of Wipro’s refreshed strategy and a successful turnaround from its growth struggles over the last decade before turning more

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‘I Divorced In April. Now I Live Across The World With A New Love’

Back in March I was living in Gloucestershire in the U.K. and I was in the final stages of divorce. Whilst it was as amicable as can be in such circumstances, I was facing bankruptcy. I had no savings and during my separation and divorce I took my foot off the gas with my business. As I am a one-woman band it meant bills piled up to the around $50,000 (£40,000). I had no means to pay the debt back.

a person standing next to a body of water: Stacey Sargison and her new love, Christian, pictured together in Sydney, Australia.

© Stacey Sargison
Stacey Sargison and her new love, Christian, pictured together in Sydney, Australia.

At that time I felt as if I had two versions of my life running simultaneously, on one side after years of separation a chapter was closing with my divorce. I had been struggling with my business during the separation and I decided to take a firm stand. I fought fiercely to save the online

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