Buy Wipro; target of Rs 600: Prabhudas Lilladher

Prabhudas Lilladher's report on Wipro

"Wipro made changes in the role of some in its top management like Mr. Shaji Farooq, Mr Soumitro Ghosh, Mr GK Prasanna and Mr. Jeffery Jalil. All these members would now report to Mr. TK Kurien (CEO). These changes would be effective from January 1, 2014. We believe that the resignation of Wipro veteran, Mr. Anand Sankaran, is the last leg of restructuring. New roles assigned to the members would unleash their strength in respective profiles."

Valuation and Recommendation – "Retain 'BUY' with target price of Rs 600: We see this as the last leg of restructuring for the company. The company has managed to turn the tide and started to see some initial signs of success with key few deal wins. We expect revenue momentum to get stronger in FY15," says Prabhudas Lilladher research report.

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