Buy Wipro; target of Rs 390: Sharekhan

Sharekhan's research report on Wipro

Wipro delivered broadly in-line constant currency revenue growth; EBIT margin surprised positively. Management expects the headwinds in healthcare and India business to recede in next few quarters. Q4FY19 revenue growth guidance of 0-2%, below our expectations; Guidance bakes in lower enrolments in healthcare and macro uncertainties.

Outlook

We retain our Buy rating on the stock of Wipro with an unchanged price target of Rs 390.

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