Hold Wipro: target of Rs 750: Sharekhan

Sharekhan suggested hold score on Wipro with a target cost of Rs 750 in its research study report dated October 13, 2021.

Broker Research

October 14, 2021 / 01:43 PM IST

Hold 2

Sharekhan’s research report on Wipro Q2 earnings development smoothly beat assistance; margins amazed positively despite wage revisions, effect of acquisitions and financial investments in capability-building. Net personnel additions and utilisation stayed strong, while attrition inched up. Management directed for profits development of 2-4% q-o-q for Q3FY2022, as we expected, led by broad-based need and a strong deal pipeline. Offer TCVs grew 19% y-o-y in H1FY2022, while Cloud pipeline crossed $8 billion. Though Wipro is advancing well in its turnaround journey, our company believe an assessment of 27x FY2023E elements in development capacity. USD revenue development most likely to clock CAGR of 15.3% over FY2021-FY2024E.

Outlook

We keep a Hold on Wipro with a revised PT of Rs. 750, owing to expected pressure on margins in H2FY2022 and an unfavourable risk-reward ratio.For all suggestions report, click here Disclaimer: The views and investment tips

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