Wipro ADR Crashes Nearly 17% Overnight Despite Rally in Infosys,Cognizant and Accenture; All You Need To Know

Wipro's American Depositary Receipts or ADRs suffered a massive sell-off on the New York Stock Exchange overnight, plunging nearly 17%, even as global IT peers including Infosys, Cognizant and Accenture ended the session in the green zone.

However, Wipro shares in the domestic market today were trading 2.68% higher at Rs. 174.69 at the time of writing. Similarly the broader Nifty IT index is also trading at 26.906, 4.42% higher than the previous close.

Wipro ADR Plunges Nearly 17% on NYSE

Wipro ADRs fell 16.89% to USD 1.87 during overnight trading on the NYSE, marking one of the stock's steepest single-session declines in recent years. The stock opened sharply lower after trading around USD 2.22 in pre-market, gapped down to nearly USD 2.05, and continued to slide throughout the session on heavy trading volumes.

The sell-off stood in sharp contrast to its global peers. Infosys ADRs gained 1.53% to USD 10.65, Cognizant surged 6.04% to USD 41.07, while Accenture climbed 5.38% to USD 131.13. The contrasting performance suggests the weakness is largely company-specific, rather than the result of a broader sell-off in global technology stocks.

JPMorgan Downgrade Triggers Sharp Sell-Off

The biggest trigger behind the sharp decline in Wipro ADR's was JPMorgan's downgrade of Wipro to 'Underweight' from 'Neutral'.

The global brokerage also reduced its target price to USD 1.70 from USD 2.20, warning that market expectations are too optimistic despite deteriorating business conditions. According to JPMorgan, Wipro is likely to guide for flat to a 2% sequential decline in revenue during Q2 FY27, due to weakness in client spending.

The brokerage in it report stated that the demand environment for Indian IT companies is currently challenging, particularly as generative artificial intelligence (AI) increasingly pressures traditional IT services by reducing billing rates and accelerating automation.

Weak June Quarter Outlook Adds to Investor Concerns

At the same time, Motilal Oswal Financial Services has projected a weak performance for Wipro in the June quarter or Q1 FY27.

The brokerage stated, "IT services revenue declined by 1.3% QoQ in constant currency, citing delayed project ramp-ups, weakness from a large client, and slower demand from the US banking, financial services and insurance (BFSI) sector."
Margins are also expected to be under pressure. MOFSL estimates operating margins could decline by around 110 basis points to 16.1%, impacted by annual wage hikes, investments in AI capabilities, and lower-margin deal ramp-ups.

Wipro Share Price Performance over the Weeks

Wipro has been consistently lagging behind its peers over the past several weeks. The ADR fell nearly 7% on June 2 and declined another 6.5% on June 22. On June 18, Wipro ended in the red despite gains in regional benchmark indices.
Overall, Wipro ADRs have declined around 19% over the past month and nearly 36% so far in 2026, and is one of the weakest-performing large-cap Indian IT stocks this year.