Buy Wipro 420 Put, says VK Sharma

Buy Wipro 420 Put, says VK Sharma, Head Private Broking & Wealth Management, HDFC Securities.

Sharma told CNBC-TV18, "There is no question of being long. I would rather be short here or to be precise if I have an investment position in Wipro I would rather like to buy puts here and buying 420 put which is available at around 6 this is what I am suggesting to those Wipro holders who go into this result season with their profits intact and let’s hope they remain intact. The kind of selling which we saw in case of Infosys is not expected there but just to be on the safer side this is a strategy for those investors in Wipro."
The company's trailing 12-month (TTM) EPS was at Rs 19.74 per share. (Dec, 2011). The stock's price-to-earnings (P/E) ratio was 21.40. The latest book value of the company is Rs 86.71 per share. At current value, the price-to-book value of the company was 4.87. The dividend yield of the company was 0.95%.