Nomura upgrades Wipro shares to 'buy' on growth outlook

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Valuations discounts also turn risk reward more favourable, Nomura says. (Reuters) Valuations discounts also turn risk reward more favourable, Nomura says. (Reuters)
SummaryValuations discounts also turn risk reward more favourable, Nomura says.

* Nomura upgrades India's Wipro Ltd to "buy" from "neutral" and raises its target price to 490 rupees from 390 rupees.

* The investment bank cites expectation for "an imminent" turnaround in growth on the back of an increase in its deal pipeline and a more stable outlook for U.S. demand.

* Valuations discounts versus rivals Infosys Ltd and Tata Consultancy Services Ltd also turn risk reward more favourable, Nomura says.

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