January 27, 2017 / 16:54 IST
KR Choksey's research report on Wipro Wipro posted Q3 numbers which were below our expectations for the 4th straight quarter. Dollar revenue was posted at USD 1,902.8 Mn, down 0.7% qoq, which was at the bottom of the guidance range and 0.8% below our estimates.
Outlook
We will continue to monitor performance and integration of acquisitions as well as ability to generate additional business from existing clients going ahead. We have a “HOLD” rating on the stock as we assign a multiple of 13x to its FY18E EPS of INR 38.1 to arrive at a price target of INR 495.
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