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Buy Wipro: target of Rs 510: Sharekhan

Sharekhan is bullish on Wipro has recommended buy rating on the stock with a target price of Rs 510 in its research report dated March 04, 2021.

March 05, 2021 / 01:33 PM IST
 
 
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Sharekhan's research report on Wipro


Wipro would acquire Capco, an end-to-end management consulting services and digital transformation solutions provider in the BFSI space, in a $1.45 billion all-cash deal. Company’s net cash stood at about Rs. 450 billion as of Q3FY2021. Deal would help Wipro boost its presence in BFSI segment, enhance capabilities, acquire talents and new clients and also win large transformational deals. The addition of 30 financial clients (79% of Capco’s revenue) from acquisition would significantly enhance the access to industry spends. Wipro has redefined its strategic focus to drive growth with speedy decisions in making large strategic M&A in BFSI space, significant staffing changes and hires in leadership positions.



Outlook


We maintain a Buy on Wipro with an unchanged PT of Rs. 510 given its strategic acquisition of Capco in BFSI space and significant external hires to achieve industry-matching growth.


For all recommendations report, click here


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first published: Mar 5, 2021 01:33 pm

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