Bengaluru: Wipro Ltd.’s stock closed lower by 1.06%, underperforming benchmark indices. The decline follows market-wide pressure on IT stocks due to anticipated increases in U.S. visa fees, which could raise operating costs for Indian IT service providers.
Analysts said that while Wipro’s fundamentals remain strong, short-term sentiment is negatively impacted by regulatory and policy uncertainties abroad. Investors are also monitoring quarterly earnings and guidance for future hiring trends, which may affect margins if U.S. costs rise.
The performance reflects broader caution in the IT sector, which is heavily reliant on the U.S. market for revenue. Other IT companies, including Infosys, TCS, and HCL Tech, are experiencing similar pressure amid the news of potential visa fee hikes.