has buy call on with a target price of Rs 480. The current market price of Wipro is Rs 398.45. Time period given by analyst is a year when Wipro’s price can reach defined target.
Wipro, incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 217940.57 Crore) operating in IT Software sector.
Wipro key Products/Revenue Segments include Software Services, Networking, Storage equipment, Servers, Software Licenses for the year ending 31-Mar-2022.
Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 23867.30 Crore, up 3.55 % from last quarter Total Income of Rs 23049.40 Crore and up 14.79 % from last year same quarter Total Income of Rs 20791.50 Crore. Company has reported net profit after tax of Rs 3062.40 Crore in latest quarter.
The company’s top management includes Mr.Rishad A Premji, Mr.Azim H Premji, Mr.Thierry Delaporte, Ms.Tulsi Naidu, Mr.Deepak M Satwalekar, Dr.Patrick J Ennis, Mr.Patrick Dupuis, Mr.Ireena Vittal. Company has Deloitte Haskins & Sells LLP as its auditors. As on 30-09-2022, the company has a total of 549 Crore shares outstanding.
Investment Rationale
The brokerage has slashed its FY24/25E USD revenue by 4.6%/4.7% as it bakes in 3Q miss and soft 4Q guidance. However, an improved margin outlook shields EPS estimates (up 0-2%). JM Financial’s positive view on the stock is predicted on structural changes affected by the new management team.
Promoter/FII Holdings
Promoters held 72.95 per cent stake in the company as of 30-Sep-2022, while FIIs owned 6.96 per cent, DIIs 7.91 per cent.
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