Wipro s shares surged 10% to reach a 52-week high of Rs 511.95 after the release of its Q3 results. The company s consolidated net profit declined by nearly 12% YoY to Rs 2,694 crore, while its consolidated revenue dropped 4.4% to Rs 22,205 crore. Brokerages like Jefferies and BofA maintained an Underperform rating, while Kotak Institutional Equities recommended a Reduce and Nuvama suggested a Hold . Wipro s Q4 growth guidance and continued headcount declines are concerning for the company. However, the company s sustainability and improved demand commentary are encouraging factors.