IT Stocks Under Pressure: Oracle Fin Share Price Slides Over 6% On Parent Company Debt Concerns
Wipro moved lower.
· NDTV Profit
OFSS declined 6.41% in early trade, while Wipro, Infosys, Coforge and Mphasis also remained under pressure.
The analysis
Wipro reported movement of 6% and 6.41%. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -0.3% on the day at ₹159.14, and has returned -7.2% over three months. It sits 42% below its 52-week high, which means a good deal of bad news was already in the price. The it sector has moved +1.1% over the same period, so Wipro is running 8.3 points behind its peers.
For Wipro, the question is how much of this is already reflected in the price and how much re-rates the it peer set alongside it.
Market context
- The company directly in focus is WIPRO.
- Sector exposure: IT.
- The immediate tone of coverage reads negative.
In this story
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