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Hold Wipro; target of Rs 285: Sharekhan

October 16
21:25 2019

Sharekhan’s research report on Wipro

Reported in-line revenue performance, while EBIT IT margin remained ahead of our modest expectations considering wage revision and drop in utilisation rates. Guided revenue growth of 0.8% – 2.8% for Q3FY2020E, above our expectation. Organic growth guidance stands at 0.2-2.2% q-o-q CC, marginally ahead of our estimates. With inconsistent execution along with macro uncertainties, Wipro’s revenue growth is expected to remain at bottom quartile among tier-I companies.

Outlook

We maintain our Hold rating on Wipro with a PT of Rs. 285.

For all recommendations report, click here

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