Wipro an market performer: Prabhudas Lilladher

55546 Investors following Wipro. Share this News with them.

0

Like this story, share it with millions of investors on M3

Wipro an market performer: Prabhudas Lilladher

Prabhudas Lilladher has maintained market performer rating on Wipro with target price of Rs 471. Wipro Technologies reported decent Q4FY08 numbers with decent topline growth, while it was weak showing on the margin front.

Post your opinion here

 

0

Tweet

Share on Tumblr

RELATED NEWS Buy Rolta, target Rs 417: Prabhudas Lilladher Ranbaxy on outperformer, tgt Rs 560: P Lilladher Ankur Drugs, target of Rs 389: Prabhudas Lilladher ACC an underperformer: Prabhudas Lilladher Wipro BSE | NSE 28/05/12 Are Mutual Funds betting on Wipro?

Prabhudas Lilladher has maintained market performer rating on Wipro with target price of Rs 471 in its April 18, 2008 report. "Wipro Technologies reported decent Q4FY08 numbers with decent topline growth, while it was weak showing on the margin front. Revenue grew by 6.9% QoQ in rupee terms to Rs 55.95 billion, while PAT grew a healthy 6.0% QoQ to Rs 8.75 billion on the back of strong forex gains of Rs 750 million. EBITDA margin contracted by 97bps, while PAT margin declined by 13bps. EBIT margin for Wipro's Global IT segment continued its declining trend at 19.9% (as compared to 20.7% in Q3FY08 and 22.8% in Q4FY07). Onsite wage hikes shaved 100bps off its margin this quarter. We expect Wipro to report earnings growth of 16.9% and 14.1% in FY09 and FY10 respectively. An uncertain business environment and volatility on the forex front will pose challenges going forward. At the CMP of Rs 459, it quotes at 15.5x FY10E earnings. We maintain Market Performer rating on the company with a target price of Rs 471 (16x FY10E earnings)." says Prabhudas Lilladher report.

Disclaimer: The views and investment tips expressed by investment experts 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.
 
For further details click on attachment.......