ICICI Direct has given Hold recommendation for Wipro with a target price of Rs. 575 in its research report issued on May 02, 2022

ICICI Direct’s research report on Wipro

Wipro is an IT, consulting & BPO player catering to BFSI, health, consumer, energy & utility, technology and communication. With over 230000 employees, it serves clients across six continents • Consistent payout (~70%), healthy OCF to EBITDA ratio of ~89%.

Outlook

We revise our rating on the stock from BUY to HOLD. We value Wipro at Rs 575 i.e. 21x P/E on FY24E EPS.

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