Hold Wipro; target of Rs 420: ICICI Direct

ICICI Direct's research report on Wipro

Wipro is an IT, consulting & BPO player catering to BFSI, health, consumer, energy & utility, technology and communication. With over 230000 employees, it serves clients across six continents • Consistent payout (~70%), healthy OCF to EBITDA ratio of ~89%.

Outlook

We maintain HOLD rating on the stock. We value Wipro at Rs 420 i.e. 15x P/E on FY25E EPS.

More Info

At 17:30 Wipro was quoting at Rs 377.30, down Rs 1.80, or 0.47 percent.

It has touched an intraday high of Rs 387.00 and an intraday low of Rs 376.30.

It was trading with volumes of 656,828 shares, compared to its thirty day average of 638,143 shares, an increase of 2.93 percent.

In the previous trading session, the share closed down 7.03 percent or Rs 28.65 at Rs 379.10.

The share touched its 52-week high Rs 739.80 and 52-week low Rs 376.30 on 14 October, 2021 and 14 October, 2022, respectively.

Currently, it is trading 49 percent below its 52-week high and 0.27 percent above its 52-week low.

Market capitalisation stands at Rs 206,973.19 crore.

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Wipro - 141022 - icici