Thursday, 14 Jan, 8.25 pm Money Control

News
Buy Wipro: target of Rs 510: Sharekhan

    Trade
    • Watchlist
    • Portfolio
    • Message
    • Set Alert

    live

    • bselive
    • nselive

    Volume Todays L/H

    More

    ×


    Sharekhan's research report on Wipro


    Revenue was broadly in-line, margin beat our estimates; CC revenue grew 3.4% q-o-q, while EBIT margin for IT services expanded 246 bps q-o-q to 21.7%; cash conversion remained strong. Wipro provided marginally better-than-expected growth guidance of 1.5-3.5% q-o-q for Q4FY2021E; EBIT margin to sustain in the medium-term despite higher investments, aided by revenue growth and higher offshoring mix. We expect Wipro's revenue growth trajectory to significantly exceed historical levels in FY2022E and FY2023E, because of strong deal wins, a robust deal pipeline and its full service model.

    Outlook


    We maintain our Buy rating on Wipro with a revised PT of Rs. 510 given large deal wins and speedy decisions on strategic changes across organisation for improving growth trajectory.


    For all recommendations report, click here


    Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Dailyhunt
Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by Dailyhunt. Publisher: Money Control English
Top