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Story summary
- Wipro's shares fell 3% on April 17, erasing about $670 million in market capitalization after a weak first-quarter forecast.
- The company forecasts the June quarter to fall 2% to flat growth due to reduced U.S. banking client spending.
- This follows a disappointing fourth quarter in which Wipro missed profit and revenue expectations.
- Analysts warn of ongoing growth challenges and margin pressures from salary hikes and low-margin acquisitions.
