Wipro Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 214834.33 Crore) operating in IT Software sector.
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Promoters held 74 per cent stake in the company as of June 30, 2020, while FIIs held 8.2 per cent, DIIs 7.6 per cent and public and other 10.1 per cent.
ICICI Direct has given a buy rating to Wipro with a target price of Rs 435. The share price moved down by 5.47 per cent from its previous close of Rs 375.75. The stock’s last traded price is Rs 355.20.
Wipro Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 214834.33 Crore) operating in IT Software sector.
Financials For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 15114.50 Crore, up 1.35 % from last quarter Sales of Rs 14913.10 Crore and down -.07 % from last year same quarter Sales of Rs 15125.60 Crore. The Company reported net profit after tax of Rs 2485.00 Crore in latest quarter. Investment Rationale The brokerage expects Wipro to witness healthy revenue growth in coming years mainly led by healthy traction in deals, growth focus of new CEO, acquisition of new logos and traction in digital revenues. Further, it believes that improving growth along with cost rationalisation will keep margins buoyant. This, coupled with healthy capital allocation policy and improving tech spends on digital technology, prompt it to maintain BUY recommendation on Wipro with a target price of Rs 435 (19x FY23E EPS).
Promoter/FII Holdings Promoters held 74 per cent stake in the company as of June 30, 2020, while FIIs held 8.2 per cent, DIIs 7.6 per cent and public and other 10.1 per cent.
Brokerages slash Wipro share price target by up to 27%
