Hold Wipro, target of Rs 476: Sharekhan

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Hold Wipro, target of Rs 476: Sharekhan

Sharekhan has recommended a hold rating on Wipro with a target price of Rs 476. Wipro Technologies (Wipro)’s Q1FY2010 results (under the US GAAP) were well above expectations.

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Sharekhan has recommended a hold rating on Wipro with a target price of Rs 476 in its July 22, 2009 research report.

"Wipro Technologies (Wipro)'s Q1FY2010 results (under the US GAAP) were well above our expectations. Wipro positively surprised us on the operating profit margin (OPM) front in the information technology (IT) service business for the second consecutive quarter. Consequently, we have upgraded our earnings estimates upward and our recommendation to 'Hold', target of Rs 476," says Sharekhan's research report.

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To read the full report click on the attachment......