Sharekhan recommended hold rating on Wipro with a target price of Rs 305 in its research report dated April 16, 2019.
Sharekhan's research report on Wipro
Delivered lower-than-expected revenue growth and operating profitability performance; CC revenue grew by 1% q-o-q. Guided muted revenue growth of -1% to +1% for Q1FY2020E (excluding Workday and Cornerstone divestment impact), below our expectations. The company’s capital payout strategy continues to remain impressive; Participating in the buyback programme could be a tactical opportunity for investors for short-term investment gain.
We downgrade our rating on Wipro from Buy to Hold with a revised price target of Rs. 305.
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