Hold Wipro; target of Rs 285: Sharekhan

Sharekhan's research report on Wipro

Reported lower-than-expected revenue growth, while adjusted EBIT IT margin remained a tad ahead of our estimates.. Guided muted revenue growth of 0% to +2% for Q2FY2020E, which is broadly in line with our expectations. Retained the capital return policy at 40-50% of net profit despite the anticipated change in taxation policy (proposed buyback tax in the budget).

Outlook

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