Reduce Wipro, target of Rs 213: Prabhudas Lilladher

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Reduce Wipro, target of Rs 213: Prabhudas Lilladher

Prabhudas Lilladher has maintained its reduce rating on Wipro with a target price of Rs 213. Wipro’s Q3FY09 results were broadly in line with expectations, wherein IT services’ revenue grew by 6.2% sequentially to Rs 50.6 billion.

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Prabhudas Lilladher has maintained its reduce rating on Wipro with a target price of Rs 213 in its January 21, 2009 research report. "Wipro's Q3FY09 results were broadly in line with our expectations, wherein IT services' revenue grew by 6.2% sequentially to Rs 50.6 billion. We maintain our Reduce rating on the stock with a target price of Rs 213 (8x FY10E earnings)," says Prabhudas Lilladher's research report.

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