ICICI Direct has given Buy recommendation for Wipro with a target price of Rs. 815 in its research report issued on Oct 18, 2021

ICICI Direct’s research report on Wipro

Wipro is an IT, consulting & BPO catering to BFSI, health, consumer, energy & utility, technology and communication. With 190000 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 815 i.e. 29x P/E on FY23E EPS

 

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