Wipro is one of India’s leading software company, however it has been a laggard as compared to its peer group for the past several years. Overall improvement in the sector post pandemic and change of leadership lead us to a very positive outlook on the stock as it narrows its growth rate vis-a-vis its peer group. Focus on large profitable assignments, ramping up in verticals where it is underweight and comfort on client concentration front are key positives. The management is aggressively pursuing inorganic growth to fill gaps in its offering and improve geographic concentration. We have an over weight rating as we expect PE multiples to expand as growth dynamics improve – 20-07-2021 Price: 568.55 Rating: Over Weight Recommendation: Buy
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