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WIPRO LTD.

NSE : WIPROBSE : 507685ISIN CODE : INE075A01022Industry : IT - Software House : WIPRO
BSE249.60-2.85 (-1.13 %)
PREV CLOSE ( ) 252.45
OPEN PRICE ( ) 252.60
BID PRICE (QTY) 249.60 (54)
OFFER PRICE (QTY) 0.00 (0)
VOLUME 264659
TODAY'S LOW / HIGH ( )248.35 252.65
52 WK LOW / HIGH ( )227.25 301.55
NSE249.45-3.1 (-1.23 %)
PREV CLOSE( ) 252.55
OPEN PRICE ( ) 252.50
BID PRICE (QTY) 249.45 (2558)
OFFER PRICE (QTY) 0.00 (0)
VOLUME 2878437
TODAY'S LOW / HIGH( ) 248.30 252.50
52 WK LOW / HIGH ( )226.99 301.6
AnalystDate16 Oct 2019
BSECode507685
BlogURLNA
NoteDescriptionWipro ended H1 with moderate growth of 4.8%YoYwhich is higher than Full year growth of FY19 (2.9% YoY in FY19) .Going ahead we are confident of FY20 to better than FY19 owing to ramp of net new wins (deferment deal which got signed in 2Q), continued growth in vertical like consumer, EN&U and Communication and increase in digital business (up by ~29%YoY) . Also moderate guidance of 0.8% to 2.8% QoQ in cc terms despite uncertain macro is giving further sense for improved growth .However slowdown in client spend around BFSI segment cannot be overlooked as it has been key driver for company in past. Also continued investment in big bets(Building capabilities in digital , cloud, Engineering and cyber security &risk services ) will hold the margin in near term .Post result , we have marginally curtailed our margin for FY20/FY21 by 10bps/30bps.Thus we reduce our target price from Rs283 to Rs 278 and Recommend Accumulate
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