We would recommend adding Wipro
PRO Only Highlights
– Quarterly performance largely backed by improved realisations
– Medium-term triggers China plus and protectionist measures for tyre industry
– Valuations not inexpensive; but improved medium-term outlook
Wipro’s initial (CMP: Rs 673, Market Cap: Rs 368,639 crore) gains from a turnaround has largely played out. The steady quarter, in terms of strong growth and encouraging commentary on demand alongside supply challenges, echoes the outlook shared by most of its peers. With bold inorganic bets, the stock can narrow the valuation gap with large-cap leaders, should the growth momentum sustain alongside the improving trend in margin, and supply challenges not upsetting the apple cart. (image) Source: Company Key positives Wipro…
