Information Technology: Moderating, yet Strong
IT index is up >40% (mid-tier >100%) over the past year, supported by (1) earnings upgrade of ~5% for tier-1 IT and ~20% for mid-tier IT and...
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Pick of the Week: Wipro Ltd
Wipro Ltd is India’s one of the largest IT services exporter and has a strong global presence. It provides industry-wide solutions including next...
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Wipro Ltd: Weak Margins in IT Services
five years (from ~Rs 178 in January 2017 to ~Rs 640 levels in January 2022). We maintain BUY on strong deal momentum especially on large size deals...
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Wipro Ltd: Miss on 3Q and 4Q Revenue Guidance
Wipro (WPRO) reported 3QFY22 IT Services revenue of USD2.64b (+3.0% QoQ CC), missing our estimate by 70bps. We now expect FY22 IT Services revenue...
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Wipro: Revenue Below Expectations; Efficient Execution Provides Margins Resilience
We recommend a HOLD rating on the stock and assign a 27x P/E multiple to its FY24E earnings of Rs 27.7/share to arrive at a TP of Rs 750/share,...
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