Outlook and valuation: Solid execution; maintain ‘BUY’. The strategy execution by the new CEO is now beginning to bear fruit. The stock is trading at 20.7x FY22E.
Shares of Infosys dropped 3.4% on Thursday morning while those of Wipro fell 3.7%, despite the strong quarterly results posted by both the Information Technology firms.
Wipro share price surged 5.5 per cent to Rs 353.70 apiece on BSE a day after the company informed that its board will consider a buyback plan on October 13
Wipro shares slipped over 4 per cent in early trade on Monday after the company said it expects revenues in the ongoing quarter to be impacted by a "mixed demand environment".
Wipro shares advanced as much as 4.17 per cent in morning trade on Wednesday after it informed bourses that the board will consider a buyback of equity shares
Wipro shares fell as much as 2.2 per cent in the early trade on Monday after the IT major posted 1.8 per cent rise in its consolidated net profit to Rs 2,234.1 crore for the quarter ended December 31, 2015.
Wipro share price declined 1.57 per cent in morning trade on Friday after the company for the third quarter of the fiscal gave a muted revenue growth guidance in the range of 0.5-2.5% in dollar terms.