Wipro shares crack 6% post Q2 results; here’s why

MUMBAI: A lower than expected buyback price put pressure on Wipro NSE -5.71 % shares in Wednesday’s trade as the stock slumped over 6 per cent. The company also missed the analyst projections, further denting the sentiments.

Analysts also attributed profit-taking in the stock behind the correction as the shares had witnessed a sharp run up in prices. The company’s stock had gained 67 per cent since the first quarter results on July 14 and hit a new high of Rs 381.70 earlier this week, outperforming its top tier peers which have earned 30-52 per cent returns in the