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Earnings

Wipro Q3 profit rises 21%: Here's what brokerages have to say

Updated : 2021-01-14 09:36:45

Wipro delivered a stellar performance in the third quarter and announced a rise of 21 percent in the consolidated net profit to Rs 2,968 crore year-on-year (YoY) for the period ending on December 31, 2020. Wipro expects revenue from its IT Services business to be in the range of $2,102-$2,143 million, which translates to a sequential growth of 1.5 percent to 3.5 percent. Brokerages, however, remained mixed post the earnings. Here's what they have to say:

 Credit Suisse:  The brokerage has a 'neutral' call on the stock but raised the target to Rs 500 per share from Rs 370 earlier. It added that the QoQ revenue growth was led by consumer, life sciences, tech and manufacturing verticals.
Credit Suisse: The brokerage has a 'neutral' call on the stock but raised the target to Rs 500 per share from Rs 370 earlier. It added that the QoQ revenue growth was led by consumer, life sciences, tech and manufacturing verticals.
 Jefferies : The brokerage has an 'underperform' rating on the stock with a target at Rs 400 per share. While revenue was slightly ahead, sharp margin expansion was the key surprise, it said.
Jefferies: The brokerage has an 'underperform' rating on the stock with a target at Rs 400 per share. While revenue was slightly ahead, sharp margin expansion was the key surprise, it said.
 Edelweiss : The brokerage has a 'buy' call on the stock and raised the target price to Rs 550 per share from Rs 467 earlier. It believes that the strategy execution by the new CEO is now beginning to bear fruit.
Edelweiss: The brokerage has a 'buy' call on the stock and raised the target price to Rs 550 per share from Rs 467 earlier. It believes that the strategy execution by the new CEO is now beginning to bear fruit.
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