Hold Wipro target of Rs 285: Sharekhan

Sharekhan's research report on Wipro

Reported in-line revenue performance, while EBIT IT margin remained ahead of our expectations, led by rupee depreciation. Guided soft revenue growth of 0%- 2% for Q4FY2020E, owing to weakness in BFSI, deferment of renewals of certain digital projects and macro uncertainties. With inconsistent execution along with macro uncertainties, Wipro’s revenue growth is expected to remain at bottom quartile among tier-I companies.

Outlook

We maintain our Hold rating on Wipro with a PT of Rs. 285.

For all recommendations report, click here

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.

Read More