💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Wipro shares down 48% amidst growth concerns, downgrades

Published 06/12/2017, 08:53 AM
© Reuters.  Wipro shares down 48% amidst growth concerns, downgrades
WIT
-
  • Wipro Limited (NYSE:WIT) shares are plummeting premarket potentially due to some revelations last week that might have dampened investor confidence.
  • Last week, Wipro released the 20-F report that included the disclosure that the U.S. election and President Trump could harm the company’s future growth due to Trump’s campaign stances on trade and NAFTA.
  • Jefferies downgraded Wipro from Hold to Underperform last week due to weak performance and low visibility on both revenue and margin with no change expected soon.
  • Current analyst standings for Wipro include 5 Buy, 4 Outperform, 19 Hold, 16 Underperform, and 4 Sell.
  • Wipro shares down 48.04% premarket.
  • Now read: Sphere 3D (ANY) Presents At 7th Annual LD Micro Invitational Conference - Slideshow


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.