Bearish on Wipro: Sudip Bandyopadhyay

In a chat with ET Now, Sudip Bandyopadhyay, President, Destimoney Securities Pvt. Ltd., shares his views on Wipro.

ET Now: A word on Wipro and the kind of carnage that the stock has witnessed today, 7% down, dumped by most people after the Q1 commentary, what would you advise?

Sudip Bandyopadhyay: Well unfortunately, in spite of good results in Q4, the commentary came as a shock and obviously if the management is indicating that kind of Q1, people will be concerned and they deserve the downgrade which they saw from lot of analysts. So I will also advise excercising caution as far as Wipro is concerned just when after Q4 results we were thinking the company is out of the woods, it was a shocker so advice is to stay away from Wipro even at current levels.