Wipro Ltd. share price target

Q4 revenue growth slightly ahead of estimates at 3.1% QoQ USD driven by manufacturing, retail and BFSI

We recommend a BUY with TP of Rs. 675/share.

all companies in NIFTY IT Index, several mid-cap, small cap IT firms and new age internet players. Management commentary across companies indicate that strong demand environment is expected to continue over medium term and revenue growth is no longer contingent on winning large deals. Pricing environment has also improved. Additionally, companies are doing aggressive fresher hiring resulting in pyramid balancing which will provide considerable margin tailwinds in FY23....

technology development services cost fell from 13.88% to 13.86%. Other income fell 5.59% to Rs 476.5 crore. PBIDT fell 0.27% to Rs 4516.9 crore. Provision for interest fell 3.84% to Rs 140.3 crore. PBDT fell 0.27% to Rs 4516.9 crore. Provision for depreciation fell 3.34% to Rs 745.9 crore....

As a result, EBITDA rose 3.0% YoY, despite significant contraction in EBITDA margin (-540bps YoY to 21.2%, owing to higher operating expenses and acquiring Edgile and LeanSwift Solutions). PAT remained...