AgenciesRelated
Emkay Global has buy call on Wipro with a target price of Rs 670. The current market price of Wipro Ltd. is Rs 519.
Time period given by analyst is one year when Wipro Ltd. price can reach defined target.
Wipro Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 283642.31 Crore) operating in IT Software sector.
Wipro Ltd. key Products/Revenue Segments include Software Services, Networking, Storage equipment, Servers, Software Licenses for the year ending 31-Mar-2021.
Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 20791.50 Crore, up 3.06 % from last quarter Total Income of Rs 20173.60 Crore and up 27.37 % from last year same quarter Total Income of Rs 16324.10 Crore. Company reported net profit after tax of Rs 2964.70 Crore in latest quarter.
Investment Rationale
Rizing is Wipro's sixth acquisition since the beginning of CY21 and is line with the company's growth agenda. The acquisition will strengthen Wipro's SAP practice by leveraging Rizing's SAP consulting capabilities, industry expertise, and existing client relationships. Rizing will become a critical extension of Wipro's SAP Cloud practice and Wipro FullStride Cloud Services. Given the size of the acquisition (~2% of Wipro's CY21 revenues), the brokerage does not expect any meaningful revision to the earnings estimates. It has a Buy rating on Wipro with a TP of Rs670 (23x Mar'24E EPS).
Promoter/FII Holdings
Promoters held 73.0 per cent stake in the company as of 31-Mar-2022, while FIIs owned 8.12 per cent, DIIs 3.24 per cent.
Time period given by analyst is one year when Wipro Ltd. price can reach defined target.
Wipro Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 283642.31 Crore) operating in IT Software sector.
Wipro Ltd. key Products/Revenue Segments include Software Services, Networking, Storage equipment, Servers, Software Licenses for the year ending 31-Mar-2021.
Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 20791.50 Crore, up 3.06 % from last quarter Total Income of Rs 20173.60 Crore and up 27.37 % from last year same quarter Total Income of Rs 16324.10 Crore. Company reported net profit after tax of Rs 2964.70 Crore in latest quarter.
Investment Rationale
Rizing is Wipro's sixth acquisition since the beginning of CY21 and is line with the company's growth agenda. The acquisition will strengthen Wipro's SAP practice by leveraging Rizing's SAP consulting capabilities, industry expertise, and existing client relationships. Rizing will become a critical extension of Wipro's SAP Cloud practice and Wipro FullStride Cloud Services. Given the size of the acquisition (~2% of Wipro's CY21 revenues), the brokerage does not expect any meaningful revision to the earnings estimates. It has a Buy rating on Wipro with a TP of Rs670 (23x Mar'24E EPS).
Promoter/FII Holdings
Promoters held 73.0 per cent stake in the company as of 31-Mar-2022, while FIIs owned 8.12 per cent, DIIs 3.24 per cent.
(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
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