Emkay Global Financial has given Hold recommendation for Wipro with a target price of Rs. 700 in its research report issued on Dec 20, 2021

Emkay Global Financial’s report on Wipro

Wipro has agreed to acquire a 100% stake in Austin, Texas-headquartered Edgile LLC (Edgile), a cybersecurity consulting provider focused on risk and compliance, information and cloud security and digital identity, for a cash consideration of USD230mn (~5.2x EV/Sales on CY20 sales).

Outlook

We have a Hold rating on the stock with a TP of Rs700 at 25x Dec’23E EPS.

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