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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