Moneycontrol's Sakshi Batra does a 3-Point Analysis of the earnings fineprint and outlook of Wipro.
Sharekhan recommended Hold rating on Wipro with a target price of Rs 285 in its research report dated October 15, 2019.
Japanese brokerage firm Nomura has maintained its reduce call on the stock with a target price at Rs 235 per share as it expects growth to continue to lag peers.
Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 42 points gain or 0.37 percent.
The company increased its guidance from 0-2 percent to 0.8-2.8 percent, despite the macro-economic volatility. It is also stepping up its investment in building resources and digital capabilities.
IT services revenue in dollar terms increased 0.5 percent sequentially to $2,048.9 million while the same in constant currency grew 1.1 percent QoQ.
Brokerage houses expect the sequential decline in bottomline in the range of 2-8 percent over previous quarter.
Net Sales are expected to increase by 0.2 percent Q-o-Q (up 1.4 percent Y-o-Y) to Rs. 14,740.9 crore, according to Prabhudas Lilladher.
Net Sales are expected to increase by 2.1 percent Q-o-Q (up 3.3 percent Y-o-Y) to Rs. 15,025.6 crore, according to Motilal Oswal.
Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 17 points gain or 0.16 percent. The Nifty futures were trading around 11,223-level on the Singaporean Exchange.
In continuation with the announcement made on June 5, 'the said acquisition has been completed on October 3, 2019,' Wipro said in a regulatory filing to BSE.
IT sector is the second largest employment generator in India employing close to 12.30 lakh following the banking sector that employs 12.60 lakh people.
Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 42.5 points gain or 0.39 percent. Nifty futures were trading around 10,884-level on the Singaporean Exchange.
CLSA expects Wipro to remain at the bottom of its peer growth range in FY21.
Wipro HOLMES™ and Wipro’s Data Discovery Platform to offer insights-driven applied AI and automation solutions
Under the deal, which is expected to be completed by September 30, the IT major will offer a range of services through its artificial intelligence platform Wipro HOLMES.
Unlike the West, Japanese culture is different and what is considered normal in India can be construed as offensive and may even result in lost business
Trends on SGX Nifty indicate a negative opening for the broader index in India, with 0.24 percent loss or 26 points. Nifty futures were trading around 10,906-level on the Singaporean Exchange.
The two organizations have jointly set up the Wipro IISc Research and Innovation Network.
They are trying to stem the problem with better salary hikes and promotions along with overall employee value proposition.
This would be the third buyback by Wipro. The IT major had last conducted a Rs 11,000-crore share buyback in November 2017 and Rs 2,500 crore worth of shares buyback in 2016.
The top IT companies have ramped-up their hiring for the quarter, especially in new age technologies.
HDFC Securities is bearish on Wipro has recommended sell rating on the stock with a target price of Rs 220 in its research report dated July 18, 2019.
Sharekhan recommended hold rating on Wipro with a target price of Rs 285 in its research report dated July 17, 2019.