Wipro shares fall nearly 7% as organic growth, revival plan disappoint

By Sethuraman N R

BENGALURU (Reuters) – Shares of Wipro Ltd fell 6.8% on Wednesday, a day after the software services firm posted quarterly organic revenue growth that was lower than peers and disappointed some investors with its plans to revive growth.

Chief Executive Officer Thierry Delaporte, who took the helm in July, said on Tuesday Wipro would focus more on large deals and “prioritize the markets and sectors that are relevant,” without giving more details.

The commentary let down some investors who were hoping for more concrete steps from a company that has underperformed its rivals in the recent past.

“The strategic roadmap from the CEO to revive growth was not as strong as it was expected to be,” IDBI Capital research analyst Urmil Shah said.

Wipro also saw a decline in revenue from its key markets of the Americas and Europe in the second quarter as clients cut

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