Sell Wipro; target of Rs 250: HDFC Securities

HDFC Securities is bearish on Wipro has recommended sell rating on the stock with a target price of Rs 250 in its research report dated April 17, 2019.

Broker Research

April 18, 2019 / 15:02 IST

live

bselive
nselive

Volume

Todays L/H

HDFC Securities' research report on Wipro

We downgrade WIPRO to SELL (from Neutral), post the insipid 4QFY19 show and weak guidance. Revenue growth remains challenged and margins are peaking. The recent security breach raises questions about client’s data security and is a setback to Wipro’s reputation.

Outlook

The much awaited buyback (5.4% of equity at Rs 325/sh, 16% premium to CMP) kicks up FY21E EPS by ~2%. At 14x FY21E EPS, our TP is Rs 250 (~11 downside from CMP).

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Broker Research

first published: Apr 18, 2019 03:02 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347