Buy Wipro on decline, says Sukhani

Sudarshan Sukhani of s2analytics.com advice traders to buy Wipro on decline.

Sukhani told CNBC-TV18, “Wipro is a much easier call. The IT space is outperforming and it is very difficult to imagine this market going up by strange things have happened. If the market were to go up then Wipro would be certainly a breakout candidate on the upside. So we want to wait and watch and the slightest signs of strength we want to buy Wipro. I don’t think we should touch GAIL at all, these small moves are random, they occur on the back of some minor events and GAIL is best left alone.”
The company's trailing 12-month (TTM) EPS was at Rs 19.05 per share. (Mar, 2012). The stock's price-to-earnings (P/E) ratio was 20.26. The latest book value of the company is Rs 86.70 per share. At current value, the price-to-book value of the company was 4.45. The dividend yield of the company was 1.04%.