Buy Wipro, target price Rs 455: IIFL

IIFL has buy call on Wipro with a target price of Rs 455. The current market price of Wipro Ltd. is Rs 444.
Wipro Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 243298.18 Crore) operating in IT Software sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 16324.10 Crore, up 4.30 % from last quarter Total Income of Rs 15651.40 Crore and up 1.52 % from last year same quarter Total Income of Rs 16080.20 Crore. Company reported net profit after tax of Rs 2987.70 Crore in latest quarter.


Investment Rationale
Stock has given a bullish Flag pattern breakout on the weekly chart.

Promoter/FII Holdings
Promoters held 74.01 per cent stake in the company as of Dec 31, 2020, while FIIs held 8.46 per cent, DIIs 6.08 per cent and public and others 11.45 per cent.