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Buy Wipro, target of Rs 463: KRChoksey
KRChoksey Research has maintained its buy rating on Wipro with a target price of Rs 463. The company’s revenues increased 42.5% y-o-y to Rs 6,036.5 crore.
KRChoksey Research has maintained its buy rating on Wipro with a target price of Rs 463 in its July 23, 2008 research report. "The company's revenues increased 42.5% y-o-y to Rs 6,036.5 crore, driven by strong growth in the IT Services, IT Products and Consumer Care and Lightening segment which grew by 39.4%, 44.2% `and 119% y-o-y, respectively."
"We maintain a BUY on the stock with a target price of Rs 463. At the target price the stock would be valued at 18.0x FY09E EPS of Rs 25.8, implying an upside potential of 17.1%," says KRChoksey's research report.
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