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Last Updated : Apr 27, 2017 04:13 PM IST | Source: Moneycontrol.com

Accumulate Wipro; target of Rs 531: KR Choksey

KR Choksey has recommended accumulate rating on Wipro with a target price of Rs 531 in its research report dated April 26, 2017.

 
 
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KR Choksey's research report on Wipro


The growth for Q1 FY18 would remain stagnant due to project completions in the previous quarter, and it will continue its momentum from Q2 FY18 onwards, as few projects are still in pipeline. The company has opened multi-client delivery centers in the US and the UK region, which would help in carrying out business operations and reduce costs.


Outlook


As far as Obama Care is concerned that is yet to make its impact on IT industry, we would re-rate the stock once the dust settles down. As of now, we have given the “ACCUMULATE” rating on the stock and as we assign multiple of 13x to its FY19E EPS of INR. 39.3 to arrive at a price target of INR 531.


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Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

First Published on Apr 27, 2017 04:13 pm
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