Wipro Q3 Triumph: Share Price Up 13% - Nifty IT Index Records 2.5% Surge"

1.Wipro shares surged 13% to a 52-week high of ₹526.45 on beating Q3FY24 earnings estimates.

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2.Despite a 12% YoY net profit decline, ADRs rose 18% to $6.35.

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JM Financial notes a Q3 inflection with CAPCO's double-digit growth signaling discretionary spend rebound.

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4.Axis Securities recommends 'Sell,' expecting FY25 recovery

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5.Motilal Oswal predicts low FY24 growth, margin below guided range, maintains 'Neutral' with a target of Rs 520, awaiting evidence of successful execution.

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