Wipro shares fall 6% post Q3 results; brokerages mixed

https://ift.tt/eA8V8J Shares of Wipro declined 6 percent on Wednesday despite beating analyst expectations in the December quarter results. The company posted a 21 percent in the consolidated net profit to Rs 2,968 crore year-on-year (YoY) for the period ending on December 31, 2020. It was Rs 2,456 crore in the year-ago period. Brokerages, however, were mixed on the stock post the earnings. While Credit Suisse maintained a 'neutral' call, Edelweiss had a 'buy' rating and Jefferies an 'underperform' rating. Nomura also has a 'reduce' rating but raised its target price to Rs 410 per share. It expects growth underperformance versus peers to continue and added that valuations for the stock are expensive. However, it noted that broad-based growth and improved outlook across verticals are key positives.

from RSS feed https://ift.tt/2N3lHBz
via IFTTT