INSUBCONTINENT EXCLUSIVE:
Mumbai: Brokerages have increased target price on Wipro after company delivered higher-than-expected growth in margins in December quarter
However, most retained sell or neutral rating due to muted guidance for fourth quarter and as growth continues to lag peers.
The company
posted a 34.9 per cent quarter-on-quarter rise in consolidated net profit to Rs 2,544 crore during December quarter while consolidated
revenues increased 3.5 per cent from a quarter ago to Rs 15,059 crore
Wipro announced an issue of bonus shares and interim dividend.
Releasing numbers after Indian market hours on Friday, Wipro lowered margin
guidance for its IT services business in range of $2,047 million to $2,088 million for March quarter, which translates into a flat 2 per
to marginal gains on Monday
concentrated and needs consistency
