Should You Buy Wipro After its Results?

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Should You Buy Wipro After its Results?
Credit: © Reuters.

By Aditya Raghunath

Investing.com -- Software major Wipro Ltd (NS: WIPR ) is currently trading at Rs 469.8, up over 9% after it declared its best results in over 10 years. The company’s IT business is tracked closely by analysts' and recorded revenues of Rs 16,334 crore, growing 3.9% sequentially. Profits came in at Rs 2,972.3 crore, a 0.1% sequential growth.

International brokerages have differing opinions on the stock. Citigroup Inc (NYSE: C ) has upgraded the target on the stock to Rs 510 and said that the stock is valued at a discount of 30% and 18% to Tata Consultancy Services Ltd. (NS: TCS ) and Infosys Ltd (NS: INFY ) respectively.

Nomura Holdings Inc ADR (NYSE: NMR ) has given the stock a target of Rs 425, an upgrade from its previous target of Rs 410 but lower than the company’s current price.

Jefferies has given an underperform rating to Wipro with a target of Rs 380. The brokerage said, “The large deal ramp-ups and acquisitions should drive 13% revenue CAGR over FY21-23. The wage hikes and acquisitions may keep EPS growth low at a 7% CAGR over FY21-23.”

UBS has given Wipro a target of Rs 470 saying that the guidance for FY22 was better than its -1 to 1% estimate.

Domestic brokerage Sharekhan has a buy on the stock with a target of Rs 510. “The acquisition of Capco would drive growth, given cross-sell/up-sell opportunities, enhancement of capabilities, the addition of large global financial clients and winning large transformational deals,” said the firm.

Dolat Capital has assigned a reduce rating on the stock with a target of Rs 430.

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  • navin bhongade @navin bhongade
    what about graphite subex morpan lab
    Like 0
  • MANOJ RAI @MANOJ RAI
    Wipro as always is an Evergreen Stock
    Like 4
  • Yogesh Wagh @Yogesh Wagh
    No
    Like 0
  • Ajay Uppal @Ajay Uppal
    Buy when NIFTY reaches to 12500 level. Every share would be available at least 20% less than the current price.
    Like 4
    • navin bhongade @navin bhongade
      market down hone k chance less hai ab volitile or up rahega
      Like 0

      • Comment Guidelines

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