Book profits in Wipro on upside: Baliga

One can book profits in Wipro on upside, says Ambareesh Baliga, COO, Way2Wealth.

Baliga told CNBC-TV18, "Wipro numbers were any way better than what most of us were expecting but projection is something which will hit price going ahead because clearly you will have margin pressures going ahead and that is exactly what I have been saying for a while as far as IT space is concerned. So in case it opens slightly better people should be utilizing that to book out."

The company's trailing 12-month (TTM) EPS was at Rs 19.33 per share. (Dec, 2010). The stock's price-to-earnings (P/E) ratio was 24.00. The latest book value of the company is Rs 70.97 per share. At current value, the price-to-book value of the company was 6.54. The dividend yield of the company was 1.29%.