Wipro's stock took a sharp 6% tumble, hitting ₹232.20 on BSE, after its Q4 results failed to impress and revenue guidance for Q1FY26 disappointed investors. The IT major's weaker-than-expected outlook triggered a sell-off, dragging its stock down 22% year-to-date-far worse than Sensex's 2.31% dip.

Promoters, especially Azim Premji, felt the heat. His personal stake of 4.12% (over 43 crore shares) saw a notional hit of ₹586 crore in a single day, slipping from ₹10,679 crore to ₹10,092 crore.

The key reason behind the fall? Brokerages flagged a lackluster revenue forecast. Nomura noted Wipro's Q4 revenue was down 0.8% QoQ-below consensus-and warned of weakness across most verticals. Wipro also projected a revenue decline of 1.5% to 3.5% in Q1FY26.

Multiple brokerages have now downgraded the stock:

• Nomura: Cut FY26-27 EPS by 2-4%; new target ₹280.

• Centrum: Slashed target from ₹291 to ₹250 with a 'Reduce' call.

• Nuvama: Downgraded to ‘Hold', target reduced to ₹260.

• MOFSL: Issued a ‘Sell' rating with a ₹215 target.

The consensus? Macroeconomic uncertainty, cautious client spending, and weak sectoral demand are weighing heavily on Wipro's turnaround story.