Hold Wipro, says Sharmila Joshi

Hold Wipro, says Sharmila Joshi, Independent Analyst.

Joshi told CNBC-TV18, "I think for the last couple of quarters Wipro has underperformed and when you are at the start of the year where everybody is saying have indicated that this coming year has been going to be a good year given the fact that all the developed economies will have better IT budgets, I think definitely hold on Wipro. We are now at the start of the year, which would be better than the last couple of years for IT." She further added, "They have had a change at the helm. You have to give some amount of time for that to play out and this change indicates that they have taken cognizant of the fact that that the stock has not done too well the last couple of quarters. From my side it would be a definite hold at this price." "Wipro has always been available at discount to the other two biggies. There is not given the kind of holding pattern that Wipro has, it is not really encouraged too much of institutional investment. I think it will still for my mind be either Infosys or TCS either or followed by an HCL or a Wipro. It is pretty obvious it is going to be a TCS, Infosys battling it out for the top two honors. That should be where you are if you do not have Wipro or you do not have any exposure to IT that is where your investment should be."