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Informist, Friday, Oct. 17, 2025

By Anjana Therese Antony

MUMBAI – The expectation that there will be near-term pressure on Wipro's margin led to bearish bets in the options chain of the company. Traders aggressively bought out-of-the-money put options of Wipro on expectation of further fall in the stock price. Some broking firms said the margin pressure would be due to investment requirements in large deals the company has won. 

The company lost more than INR 135 billion in market capitalisation Friday to INR 2.5 trillion. The stock closed 5% lower at INR 240.90 on the National Stock Exchange and was the worst-hit constituent in the Nifty 50. The volume of the stock traded was up 300% to almost 44 million. The near-term support for the stock is seen at INR 230-INR 220 and resistance at INR 250-260, according to a technical analyst at a domestic broking firm. 

Premiums on put contracts INR 240-INR 215 expiring on Oct. 28 rose manifold and those on call options INR 245-INR 260 declined 84-90%. The highest addition of open interest was at INR 245 call and INR 240 put options. The maximum concentration of open interest was at INR 250 call and INR 240 put options. Traders also added short bets to the futures series of Wipro. The October contract closed almost 6% lower at INR 239.60 and open interest rose nearly 13% to 153 million. 

For the September quarter, Wipro's earnings before interest and tax margin was 16.7% and some brokerages estimate this to fall by 20-60 basis points in 2025-26 (Apr-Mar). However, analysts are optimistic about the upward revision of the company's revenue growth guidance for the December quarter on likely ramp-ups in large and mega deals. 

The Bengaluru-based IT company has guided for (-)0.5% to 1.5% sequential growth in its revenue in constant currency terms for the December quarter. This is better than the (-)1% to 1% movement guided for the September quarter. The company's revenue rose 0.3% sequentially in constant currency in the reporting quarter. It reported a consolidated net profit of more than INR 32 billion for the reporting quarter on revenue of nearly INR 227 billion. 

--Nifty 50 October closed at 25751.20, up 95.10 points; 41.35-point premium to the spot index

--Nifty 50 November closed at 25880.10, up 93.70 points; 170.25-point premium to the spot index

--Nifty 50 December closed at 26047.20, up 104.10 points; 337.35-point premium to the spot index

Infosys, Reliance Industries, HDFC Bank, ICICI Bank, Eternal, Wipro, Bharti Airtel, Polycab India, Asian Paints, Bharat Electronics, JSW Steel, Axis Bank, Hindustan Aeronautics, State Bank of India, ITC, Tata Consultancy Services, Mahindra & Mahindra, and LTIMindtree were the most active underlying stocks Friday.  End

Edited by Deepshikha Bhardwaj

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