Buy Wipro, says Sudarshan Sukhani

One can buy Wipro, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "I would be a buyer in Wipro. The fact is that IT stocks are buying opportunity. If market gives a dip, we would like to go long in it. We are approaching earning season again. The charts do not suggest a mishap. Wipro has gone through a mild correction in a trading range that should breakout on the upside."

The share touched its 52-week high Rs 455.80 and 52-week low Rs 335.10 on 08 March, 2013 and 26 October, 2012, respectively. Currently, it is trading 4.98% below its 52-week high and 29.25% above its 52-week low. Market capitalisation stands at Rs 106,667.15 crore.

The company's trailing 12-month (TTM) EPS was at Rs 21.49 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 20.15. The latest book value of the company is Rs 98.88 per share. At current value, the price-to-book value of the company was 4.38. The dividend yield of the company was 1.39%.