Shares of Wipro Ltd. have outperformed the index despite the highest number of โsell' ratings against the โbuys' from analysts tracked by Bloomberg.
The information technology firm's shares gave a 19 percent return on a year-to-date basis, the eighth highest among the Nifty 50 companies.
In comparison, the Nifty advanced 8 percent and the Nifty IT index gained 14 percent during the period.
ICICI Securities Ltd. is among the few brokerages that remain positive on Wipro, citing a number of deals and an expected jump in revenue growth in financial year 2019-20. The weakness expected in first quarter of the ongoing financial year is likely to be made up in the subsequent quarters, the brokerage said.
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