Kotak upgraded the stock to 'Add' from 'Sell' and raised its fair value to Rs 7,950 from Rs 6,500, saying multiple growth drivers are now falling into place.
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Kotak upgraded the stock to 'Add' from 'Sell' and raised its fair value to Rs 7,950 from Rs 6,500, saying multiple growth drivers are now falling into place.
Wipro's Q1 revenue was a mild miss, and management remains cautious on near term environment, with concerns primarily coming in from slow revenue conversions and delayed client decision making, adds the brokerage.
While analysts applauded the company's strong performance in the Fast Moving Electrical Goods (FMEG) business, they believe the pace of growth in the core cables and wires segment will remain the key monitorable going forward.
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Analysts said the company's wealth management franchise continued to deliver solid inflows during the quarter, offsetting some weakness in the asset management business.
Wipro's weak September-quarter guidance has prompted Jefferies, Citi and Bank of America to stay cautious, with brokerages cutting target prices after the IT major's June-quarter results.
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Wipro says previously announced large deals are ramping up while clients reinvest cost savings into AI.
. The media office also urged residents, journalists and the public to rely only on official sources for accurate information.
India were bowled out for 233 with Virat Kohli and Shreyas Iyer scoring fluent 65 and 66 respectively as the English pacers again exploited Indianbatting struggles with bouncing deliveries.