Wipro surges 5%, hits 3-year high; stock soars 15% in 4 days on strong Q3

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Wipro surges 5%, hits 3-year high; stock soars 15% in 4 days on strong Q3 - Business Standard

Quick Summary:

Wipro's current combination of a favourable portfolio mix, new CEO ushering in positive momentum, strong margin performance, and inexpensive valuations (20x FY27PE) make for an attractive risk-reward profile, said analysts at Nuvama Wealth Management.

However, the management guided that Q4 revenue growth could be between -1 per cent and +1 per cent Q-o-Q -- slightly soft -- though along expectations.

The brokerage firm recently upgraded Wipro stock on the above thesis, It maintained its 'Buy' rating with a 12-month target price (TP) of Rs 350 per share.