Wipro share price falls over 2% after Q1 results. Should you buy, sell or hold the IT stock?

Wipro shares fell over 2% after the IT major posted weak Q1FY27 results, with consolidated net profit declining 4.2% sequentially to Rs 3,352 crore and IT services revenue growing just 1.8% QoQ to Rs 24,453 crore (down 1.2% in constant currency). EBIT margin contracted 130 bps QoQ to 16% on wage hikes, large-deal ramp-ups and AI investments, while Q2FY27 guidance of minus 1.5% to plus 0.5% sequential CC growth disappointed. Brokerages turned cautious, with Emkay retaining a Reduce call and cutting its target by 15% to Rs 170, while Motilal Oswal reiterated a Neutral rating with a Rs 160 target; the board declared an interim dividend of Rs 2 per share.