Sell Wipro, target Rs 350: Manas Jaiswal

Manas Jaiswal of manasjaiswal.com has a sell call on Wipro Ltd. with a target price of Rs 350. The current market price of Wipro Ltd. is Rs 366.05. Time period given by the analyst is Intra Day when Wipro Ltd. price can reach the defined target. Manas Jaiswal recommended to keep stoploss at Rs 371. Wipro Ltd., incorporated in 1945, is a largecap company with a market cap of Rs 165644.12 crore.

Wipro Ltd. key Products/Revenue Segments include Software Services which contributed Rs 43063.80 Crore to Sales Value (96.31 % of Total Sales), Networking, Storage equipment, Servers, Software Licenses which contributed Rs 1646.20 Crore to Sales Value (3.68 % of Total Sales)for the year ending 31-Mar-2018.

For the quarter ended 31-12-2018, the company has reported a Consolidated sales of Rs 15059.50 Crore, up 3.57 % from last quarter Sales of Rs 14541.00 Crore and up 10.17 % from last year same quarter Sales of Rs 13669.00 Crore Company has reported net profit after tax of Rs 2543.80 Crore in latest quarter. The company’s top management includes Dr.Ashok S Ganguly, Dr.Patrick J Ennis, Mr.Abidali Z Neemuchwala, Mr.Azim H Premji, Mr.Ireena Vittal, Mr.M K Sharma, Mr.Narayanan Vaghul, Mr.Patrick Dupuis, Mr.Rishad Premji, Mr.William Arthur Owens, Ms.Arundhati Bhattacharya. Company has Deloitte Haskins & Sells LLP as its auditoRs As on 31-12-2018, the company has a total of 4,525,022,173 shares outstanding.