Wipro on Wednesday forecast a sequential decline in first-quarter revenue, joining bigger rival TCS in flagging demand uncertainties across India’s $283 billion IT sector as shifting tariffs upend global industries and client decision-making.
Wipro ADR last dropped 3.19 per cent to $2.73 on the American stock exchange
U.S.-listed shares of India’s fourth-largest IT services firm fell 5% at $2.71 in premarket trading after the company said it expects revenue in the April–June quarter to fall between 1.5% and 3.5%.
American Depositary Receipt or ADR is a tool for foreign companies or organisations to trade on US stock markets, just like regular shares of US companies. In theory, an ADR is similar to a special certificate issued by a US bank.
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