“Choice Institutional Equities assigns a 'Reduce' rating on Wipro, cutting its share price target to ₹170 from ₹185. The firm believes the risk-reward is unfavorable at current valuations, citing a challenging demand backdrop, prolonged decision cycles, pricing pressure, and continued AI investments that will keep near-term growth and margin recovery gradual. They trimmed FY27 and FY28 earnings estimates.”