Don’t bet on Wipro

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Don’t bet on Wipro

Don’t bet your house on Wipro, Rs 10-15 max, after that the market will take a rupee view on the sector including Wipro.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See what other CNBC-TV18 anchors have to say Wipro BSE | NSE 25/05/12 Are Mutual Funds betting on Wipro?

Q: What about the news on Wipro and its possible acquisition?

A: It's not a small acquisition if it comes through we don't know for sure but this is a buzz speculation at this point in time. But Infocrossing is quarter of a billion dollar company or beat with a low PAT margin, but this could be a big addition. You could have a little bit of action here and there in Wipro but frankly these companies will only move and the rupee is kind to them. So, Rs 10-15 on Wipro possible, is it going to run away from here I don't think it's likely.

All the tech ADRs were down, the rupee is still stuck at Rs 40.40-40.50. I don't think these tech companies are going to run away in a hurry, if anything they might feel some of the global or US heat as well. So they may remain in a bit of a range, best case scenario market performer, more likely scenario still continue to under perform the market. So don't bet your house on Wipro, Rs 10-15 max, after that the market will take a rupee view on the sector including Wipro.