Stay invested in Wipro, says Sharmila Joshi

Stay invested in Wipro, says Sharmila Joshi, sharmilajoshi.com.

Joshi told CNBC-TV18, "Wipro's numbers were okay, they were neither here nor there, so no real big takeaway from the numbers in the sense of where the stock will head. But I think more important for the stock at this point is the demerger news that they have announced and the fact that they will demerge their core IT business from the rest of the businesses that Wipro has."
He further added, "I think that’s going to play in favor of the stock in the next couple of months, so I would say hold because I think we have seen the stock correct sharply over the last couple of quarters. I think that it will continue to trade smartly as we move closer to the event of the demerger. So I think that is going to definitely unlock some value for the IT business. So, as a shareholder I think you should stay put at this point in time."