Wipro Outlook: After the announcement of the results of the giant IT company Wipro, its shares were up about 8 percent today on October 14. Its shares reached the peak of 52 weeks today. Had reached a high of Rs 738.60 on the BSE in intra-day. Talking about 2021 this year, it gave about 335 times returns to investors. After reaching the top of 52 weeks today, market experts believe that there is a possibility of further growth in it. In such a situation, they have increased its target price.
The consolidated net profit of the IT giant grew 17 per cent year-on-year to Rs 2930.6 crore in the July-September 2021 quarter. The consolidated revenue of the company also increased by 30 per cent to Rs 19677.4 crore. According to the company’s CEO and MD Thierry Delaporte, the second quarter results show that the company’s strategy is working perfectly. The company grew 28 per cent year-on-year in the first half of the current financial year.
Wipro Q2 Results: Wipro profit up 19 per cent, revenue up 30 per cent to Rs 19,760 crore
Brokerage firms increase target price
- According to Prabhudas Lilladher’s Analyst Aniket Pandey, the company’s consolidated EBIT margin stood at 17.3 per cent despite investment in sales and salary hikes of employees around September 2021. According to Aniket, the effect of the salary hike can be seen in the third quarter results. However, Prabhudas Lilladher has retained the buy rating of this stock due to the increase in the revenue growth estimate.
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- The company’s performance in the July-September 2021 quarter was better than expected. Announcing the results, the company expected an increase in demand and expressed confidence of higher than expected growth in third quarter revenue. In such a situation, analysts of brokerage firm Reliance Securities have increased its target price keeping its buy rating intact.
According to the brokerage firm, its shares are currently priced at 26.5 times the estimated earnings per share (EPS) for FY 2023 and 23 times the estimated EPS of FY 2024, which is at a discounted price as compared to listed giants like TCS and Infosys. Is. According to analysts at Reliance Securities, Wipro’s revenue is expected to grow at a CAGR of 15.9 per cent (compound annual growth rate) by the financial year 2021-2024. Considering the prospects of better growth of the company, Reliance Securities has increased the target price for investment in it from Rs 565 to Rs 760.
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Wipro will give work to 25 thousand people in the next financial year
Announcing the financial results of the second quarter of the current financial year, Wipro said that it has crossed the level of annual revenue of one thousand crore dollars (Rs 75.3 thousand crore). According to the leading IT company, now it is in such a position that it can hire 25 thousand people in the next financial year. Apart from this, the company will again call its personnel in India to the office in a phased manner, in which first senior personnel will be called who have received the vaccine dose.
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