Money may exit from Wipro: CK Narayan, Sharyans Resources

CK Narayan, President Treasury, Sharyans Resources, in an interview with ET Now, gives his views on Wipro


Keeping in mind Wipro’s past performance and a comparison vis-à-vis some of its peers like Infosys, HCL Technologies and TCS. How would you place Wipro?

Wipro clearly ranks fourth in that sequence. HCL Tech really takes the cake as far as post results movements have been concerned within the technology space, so at the current levels of around Rs 450, I do not really see fresh buying coming into Wipro. In fact there is a slight evidence that money may probably be sort of exiting from it. I would think if the market were to slide or the IT sector as a whole does not remain very strong, then we could probably see the stocks slip down to somewhere around Rs 430- Rs 435 levels, so it is not a trading buy, it is not an investment buy right now. Longer term players of course being one of the top four, it clearly remains a hold and one should reassess at lower levels for entering if at all.