Wipro on Tuesday posted a 3.2% sequential development in consolidated revenue for the quarter ended September and introduced a share buyback of Rs 9,500 crore.
Haitong Securities has raised goal value by 40.5% to Rs 274 and Jefferies by 29.2% to Rs 310. Others have raised goal costs by over 4-16%.
On the score entrance, Antique has downgraded the inventory to carry from purchase, whereas CLSA, Jefferies and Haitong have maintained underperform score. Goldman and Ambit have a promote suggestion, Nomura has retained a scale back score and Motilal Oswal has retained a impartial score with an unchanged goal value of Rs 385.
Jefferies mentioned Wipro’s second-quarter consequence was forward of expectations and steerage for 1.5-3.5% sequential development within the third quarter shocked positively however the brokerage has maintained underperform score on costly valuations and decrease development profile.
For Goldman Sachs, the steerage for the third quarter was largely on anticipated strains.
“…Wipro continues to have the weakest growth profile among its peers,” mentioned Goldman Sachs. Once the buyback assist is behind, the inventory ought to re-rate decrease, reflecting its weaker development fundamentals the place Wipro is predicted to proceed to lose market share to its bigger friends TCS and Infosys, mentioned Goldman Sachs.