ICICI Direct has given Buy recommendation for Wipro recommended buy rating on the stock with a target price of Rs 750 in its research rep with a target price of Rs. 750 in its research report issued on Jan 16, 2022

ICICI Direct’s research report on Wipro

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

Outlook

We maintain BUY on strong deal momentum especially on large size deals . We value Wipro at Rs 750 i.e. 26x P/E on FY24E EPS.

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